The Importance of Educational Marketing
Written by Andrew Bordeaux on Wednesday, May 7, 2008
There are many companies that can thrive following the tried and true methods of traditional marketing initiatives. If you are one of those companies, it makes sense to place yourself in the most familiar arenas, where potential customers expect to see you. That is, if your intention is to compete with Coca-Cola for mindshare, it is probably in your best interest to utilize bold advertisements in print and television media.
But many other companies are learning that traditional approaches are no longer sufficient to convey their message and effectively convert the casual shopper into a paying customer or even better, a brand evangelist. It used to be that you could distinguish your company through lowest prices or a sparkling slogan. Now, however, these old silver bullets will barely leave a dent in the mind of the modern consumer. What can your company do today to stand out above the noise and clutter?
Education-Based marketing is the act of creating marketing materials and executing on strategies that distinguish your company as a knowledgeable authority and resource in your area of expertise. Notice the inclusion of "resource", as it is uncharacteristic to antiquated marketing approaches. It follows the revised premise that to be an active and valuable participant in the information age, one must become an information center.
With multiple, seemingly identical solutions popping up everyday in various industries, those that will shine are those that can lend a hand to their audience, rather than using that same hand to bludgeon their audience with an exhausted sales pitch.
Author David Frey has outlined not only how the average customer has become numb to the sales pitch, but also the underlying goals and burgeoning techniques of Educational Marketing. Your mission, should you choose to accept it, is to flip the script, and focus on the questions of customers rather than the sensational hype associated with a typical sales pitch.
Say you were the owner of an oil change store. A standard approach to market your business would be to place ads that say:
“Get Your Oil Changed Here for Just $14.95!”
The information and help you can provide your customer is the new hype. The emphasis of such techniques revolves around the establishment of trust. By assisting in the open sharing of information, you become an ally to your consumer, rather than the oft-avoided vacuum cleaner salesman.
One main concern that can come with Educational Marketing initiatives is "How do I monetize these new informed shoppers?" Frey goes on to map out the packaging of one's educational message through multimedia options such as video tapes, email courses, and seminars which can extend the dialogue and thus your marketing window of opportunity. Such long-term, or “drip” campaigns can have a tremendous impact on the duration of your trust-based relationship and the lifetime value of your prospective customers.
What is your educational message?
Share this article:
Products & Services
Growthink Around The Web
Best of Growthink
Looking for Opportunities Now? Join Jay's Newsletter! How to Write a Business Plan for Raising Venture Capital Top Seven Capital Raising Mistakes 20 Reasons Why You Need a Business Plan Top 10 Private Placement Memorandum (PPM) Mistakes The Secrets to Their Success? 25 Quotes From Famous Entrepreneurs The 6 Untold Reasons Why Businesses Fail 7 Entrepreneurs Whose Perseverance Will Inspire You Top 7 Myths About Starting a Business Business Exit Strategy: Planning to Sell Your Business How to Make a Business Plan Capital Raising Resource Center Investing in Private Equity via Your IRA