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The following post is courtesy of Diane Harrison who is principal and owner of Panegyric Marketing, a strategic marketing communications firm founded in 2002 specializing in alternative assets.
This post-pandemic summer has given me impetus to look back on some of my publishing from 10 years ago to see if what I thought then has stood the test of time or, like so much else about our world, been totally disrupted by our new reality. A number of these decade-old ideas have held up surprisingly well through time, so here are several concepts to help shape your marketing strategy that ring true today.
DEFINE IT. Before you can be recognized as a compelling investment opportunity, you need to offer something new or better than what already exists and to the right audience seeking such opportunity. Defining your value proposition is what gives a competitive advantage in your targeted market segment. Identify your difference and clarify this vision internally before you even think of selling yourself to this client base. The result needs to be short and direct – the proverbial ‘elevator pitch’ that everyone in your company can understand and recognize as true.
DESCRIBE IT. Once you’ve claimed your competitive edge, you need to show alignment between plan and execution with the proverbial ‘talk the talk and walk the walk.’ Regardless of whether you’re a known presence or at the beginning stages of what you believe to be a successful business, you need to outline the process for continuing on your proven course. Have you built the infrastructure to ensure continued success? Can you describe that process to an outsider? Have you separated yourself from your competitors? Can you articulate that difference and why your business offers an advantage?
COMMUNICATE IT. Once you understand your competitive edge and can prove it’s repeatable and scalable, you are ready to create your marketing story. Many companies either skip the first two steps or believe that, because they know what’s better or attractive about their company, so does their client base. Not true.
The market is a crowded and confusing place, and even the most attuned client needs to be addressed clearly to hear your story. Your communication needs to be direct, concise, and articulate while allowing for some personal flavor. It is crucial that you are able to give voice to your business and express yourself to your chosen market. Promote your advantages but be mindful of your weaknesses. Know that whatever tone you choose, the storyline needs to convey an honest and accurate accounting of your business. False claims not only don’t hold up under scrutiny, but undermine your actual strengths by casting doubt on your business integrity. Better to position your strengths in the forefront and tactfully acknowledge any areas still being improved upon.
SELL IT. Once you’ve decided on the content of your story and who you’re telling it to, the next consideration is how to get the message across. The method and the medium will vary based on how you plan to approach your audience. But because you have crafted the core message with its basic elements, this positioning will only need to be tailored to fit the chosen communication outlet.
For example, if you are planning to embark on a capital-raising effort which will require a number of one-on-one pitches to investors, fiduciaries, advisors, and committees, you will need a pitch presentation that wraps this messaging with financial data and performance in a brief yet compelling story. Or, if you are asked to be a presenter at an industry conference or at a symposium as an expert speaker, you will need to incorporate your company description and positioning with the specific topic material in the speech.
To further showcase a company’s value don’t ignore the impact of a planned and dedicated commitment to building a thought leadership program. This effort could include being interviewed for or publishing articles in targeted industry publications, as well as authoring a series of white papers highlighting issues and solutions that impact your chosen market segment. These papers, while informing and educating the reader, can also serve as powerful marketing tools. Whatever the format, your message needs to state the benefits to your client base by communicating the results, expertise, stability and opportunity that your business offers them. If you invest the time upfront in capturing this information about yourself and articulating it in compelling and engaging ways that also reflect your unique style, you will see results that pay you powerful marketing dividends.
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