One of the key lessons we love to share with new clients is the principle of brand positioning. To keep your marketing spend working as efficiently as possible, brand positioning efforts must always come before promotional efforts. Please let us explain further.
From a theoretical point of view, there are 4 P's of marketing:
Novice marketers will think of marketing only as promotion or advertising and spend all of their resources on this P.
We have analysed many organisations' marketing budgets over the years. And we can say safely that this is the most expensive approach!
The P's need to be approached in order. This will keep your promotional (or advertising) budget working efficiently.
We were explaining this concept to a client recently and he offered us an even more succinct statement:
'Clean up your house before you invite the guests'.
Yes! We love this! Thank you.
Some real life examples of this principle working include: