Underdog Marketers know the marginal net
worth of a customer. If they determine that
a new customer represents $1,000 a year
in profit and that they can attract that new
customer through a marketing program that
only costs $100, they jump at the chance
to take advantage of this ten-fold return on
their investment. They also know that if they
teach their staff to become marketers instead
of order takers, they can add a buck to the
check of every new customer without having
to spend a dime in advertising.
Underdog Marketers know that all marketing efforts must lead with the benefits, then
substantiate with the features. Consumers
buy what they need when they’re reminded
of what they need. For example, some key
benefits of a Burger King Whopper are: It’s
cheap, it’s close to where you are, and you
can almost always get it without waiting. A
strong feature of the Whopper that substantiates its benefits and reminds consumers of
what they need from that product is that,
just as Burger King’s slogan proclaims, you
can have it your way.
Underdog Marketers tell the whole story
and educate their prospects about all the
reasons they should be buying from them.
They know that informed customers make
educated purchases. When a customer
knows everything he needs to know about
the Underdog’s product, he’ll buy with
confidence, knowing that he’s made the
right choice. Underdog Marketers know
that goods aren’t sold—products and service are bought!
“Take the long view of building a customer base. Serving 125 customers at $6 each is better than getting 75 customers to spend $10 each.”
Underdog Marketers don’t rely on the grand
slam or the Hail Mary pass. They know that
more ball games are won on timely singles
and doubles than grand slams. They practice continuous innovation in every aspect
of their business and do so in small, carefully planned plays—or increments—to
ensure maximum effectiveness.
Underdog Marketers know that promotions should tickle the funny bone, gain
consumer interest and convince customers that they want to spend time in a relationship with their brand. They know that
promotion is the art side of marketing.
The logical side is pricing strategy, product, menu, operations and customer service. The art side of marketing says, “Who
would’ve thunk it?” when a promotion
strikes a chord with the target audience.
Underdog Marketers know that promotion
and advertising are fashion-driven and ask
consumers to “badge” with their brand.
The term “badge” comes from the beer
industry, where consumers identify themselves by the brand of beer they drink, by
the badge on the label. Underdogs want the
customer to “badge” to their brand. A great
promotion is a relationship, a way to say,
“Spend a few minutes with me and have a
Building a steady customer base through repeat visits is easier—and
more profitable—than constantly targeting new customers.