What is Your Marketing DNA? (Part I of IV)

The most important component of marketing for your business is your marketing DNA. Period.

So what is your marketing DNA? Let’s first recall what DNA is. In non-scientific terms, your DNA is the chemical blueprint or recipe for your genetic structure. Each and every individual has a unique DNA structure different from anyone else.

Your business marketing needs to be unique and different from any other business. If your marketing is not unique and different, your business is a commodity. Commodities are difficult businesses to sustain since you compete essentially on price and price alone.

So how do you make your marketing different and unique from other businesses? The answer lies in your marketing DNA. Your marketing DNA is a combination of three items: differentiation, niche and added value. Achieve maximum marketing results by mastering these three items. Here’s an introduction to these three ideas:

1) D is for Differentiation: First and foremost, your business must offer something different than anyone else. The easiest differentiation is to offer a unique product or service that cannot be found anywhere else. But given how fast technology moves, this is hard to sustain. A more formidable differentiation strategy is to deliver a unique customer experience that cannot be duplicated or replicated by direct or indirect competitors.

2) N is for Niche: As they say, “the riches are in the niches.” No one business can serve everyone. A successful and sustainable business strategy is to serve only one target market or one niche. Many businesses think their product or service can get good for anyone and thus market to the masses. This can lead to expensive advertising dollars that do not generate the response needed. Target one niche and serve the needs of that one niche. Once the business can sustain and serve one niche, the business can grow to others, but growth is tough if a small business serves the masses.

3) A is for Added Value: Adding value is the ultimate. Value is the relationship between perception and price. It is entirely subjective. What one might view as high value another might view as worthless. The ability to add value is truly an art and requires a deep understanding of the needs of a consumer. If a business is truly going to generate income, the business must be able to communicate the value of its product or service.

Your marketing DNA is really the key to creating and sustaining a successful business in any industry. In the next posts, I will dig into each of the three marketing DNA components. Stay tuned for more.