Fair n Lovely for some …. not necessarily for you too!
Today I wish to address start-ups and small businesses with some ideas on business promotions – many of you may be marveling at huge budgets some multinationals have earmarked even for promotion of mindless products like Fairness Cream and Baldness Cures. – the outlay could even exceed the annual turnover of your small venture.
But it would be stupid and strategically flawed for a beauty product maker in a remote corner of the country to consider TV as the primary medium to promote her range of beauty products, based on the success of a Lakme or a L’Oreal – the smart route for her would be to reach the potential customers using a see, touch and use methodology where the potential buyer experiences or understands the benefits first-hand.
Unlike the international companies who have products that have been in the market for many years hers is an untested product and she an unknown entity, even though her products could in reality be better than the ones the bigger players are offering.
The money earmarked for marketing can be spent in the following manner:
- Give free treatment / samples to a group of influencers – this group can in turn bring you the next set of customers. Develop brand ambassador(s) from this segment based on the success achieved – Seeing is believing.
- Put a small business development team / promoters in place who would visit locations where the target group can be found in suitable numbers and conduct a demo cum sale campaign – use the brand ambassadors to provide Success Stories. Nothing like the assuring words of a happy user from the local community.
- Create a demo video of your treatment or product application and upload it on Youtube; promote the video among your existing / potential clients; have an action item included in the video, such as getting people to call or to visit for a trial.
Remember, the money spent by the big players may not be translating into big returns; and many of these products are running way beyond the maturity stage in their life-cycle – don’t get conned into copying such ideas – that may not be the route best suited for your product.
We can discuss other products too – beauty products was only an example used to illustrate my point.
Use the direct approach and engage the customer in a conversation – you get to show them your product, hear their responses without dilution – such inputs could provide valuable insights that you can then use to fine-tune and improve your product and services.
This twice before you throw good money after bad promo schemes!