Financial Services Industry
Industry: Email Alert RSS FeedCHOOSING A MARKETING PARTNER INSTEAD OF A MARKETEER
Rough Notes, Jan 2005 by Primiano, Scott M, Jaffe, Steve
Seven lessons to help you pick a winner
Once upon a time, not so very long ago, marketing companies had to be legitimate to survive. They had to have designers, illustrators, copywriters, artists, and media placement experts on staff, in an office, pulling together to pitch and close clients. This meant that they incurred overhead and payroll ... so they had to be good. The barriers to entry in the marketing and communications industry were huge-cutthroat competition, large up-front investment, office space, etc. Not a place for the timid or untalented.
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Things have changed. Now, any enterprising young lass or lad with a laptop and a reasonable command of Web site design software can profess to be a "marketeer." No training, no "cost of doing business," no credentials-just a good story and someone to buy it.
A couple of them get together and ... you have a firm. Make them a trio and you have "the three marketeers"-sorry, couldn't resist. Buyer, beware; they're everywhere. And, by and large, they siphon great sums of money out of optimistic clients trying to create and sustain a differentiated position in the marketplace.
One of their favorite targets is you, the insurance agency. They know enough about our industry to know that you have to fight every day to get your clients-and work even harder to keep them. They know how difficult it is for you to differentiate, and they love to help you try. They usually don't ask you to make a "big decision"; most often they approach you with a $3,000 template mailer, a $5,000 template brochure, and/or a $10,000 template Web site. These packages are designed especially for you and 1,000 others just like you-plug in your logo and off you go! The promise is always the same-big results. Unfortunately, the results are always the same-little or none.
The marketeers are like marketing piranhas. They have an attitude that says, "I'm entitled to start at the top; no working my way up or learning curve for me." The obvious problem? They know too little to be truly effective because they missed out on the wisdom that experience brings.
So, it's time to take them to school. Here are the seven lessons that you can teach them and the ones they definitely need to learn before you ever turn over another marketing dollar.
Lesson 1 - Do your homework, do your research, and define your position in the market.
This is the step most often skipped by slippery marketeers and anxious agents. We all have a hidden desire for instant gratification on any investment of time and attention, and we can easily be swayed into believing that if we can create the next great mailer, advertisement, or marketing gimmick, success is just around the corner. So, the dance begins. Marketeer shows agent a pretty picture or crafty letter. Agent is impressed and sees name in lights. Marketeer speaks of the stunning results that can be achieved. Agent is mesmerized, thinking, "If we get half of those results ... production problem solved." Marketeer suggests we move quickly; the opportunity is now. Agent is anxious, does not want to get beaten to the market. Marketeer presents quote. Agent winces, grows skeptical, and thinks, "We've tried this before." Marketeer points back to stunning results. Agent winces again, thinks, "Maybe this time ..." Marketeer reminds agent of need to move quickly; opportunity fading. Agent is overwhelmed by sense of urgency, no time to think, must act, Nike commercial comes to mind, tells marketeer to "just do it."
The outcome is predictable and far too common. The marketeer comes up with a "new" way to say, "We're bigger, better, faster, cheaper ..." The letters go out, the ad is run, and the results are far less than stunning. Final step in this dance: marketeer blames agent for lack of follow-up and/or staff incompetence.
Start by asking yourself and your team what your agency brings to the table. What do you do or what can you do better than any other agency? What is it about your organization that makes it unique and more attractive than your competition, and why would a client want to do business with you instead of them? Who are your clients and what makes them attractive to you? The answers to these questions form the foundation of your marketing strategy and, ultimately, your value proposition. Any marketeer that doesn't engage you at this level is, we promise, looking for a quick buck rather than a partner.
In order to be heard, your marketing message must be distinctive and support your agency's unique operating culture and business practices. Surprise! To be unique and truly differentiated in the market requires that you actually be unique and conduct yourself differently. Knowing that every agency is distinctive is one thing; knowing exactly what makes your agency special and how to market you is a challenge that marketeers cannot rise above.
Lesson 2 - Cold calling doesn't work.
The votes are in-the more than 10 million people who are on the national "do-not-call" list can't be wrong. Nobody likes to get cold calls and, honestly, few people like to make them. They are always intrusive, sometimes disrespectful, and rarely effective. What they can do for you is create a lot of activity-non-contributing activity that is inefficient and ineffective.
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