The ABCDE's of marketing
Chip Klose knows more than a thing or two on marketing. He also knows that if a process is too complex, people will lean towards totally abandoning it. Hence, he came up with his ‘ABCDE of Marketing’, which the renowned marketing strategist and restaurant coach described in detail, at the recently held Bar & Restaurant Expo. Klose also took the opportunity to explain his overall approach to his marketing strategy.
He first, made it clear that there definitely is a right way to market - meaning, adapting the proper approach. One that embraces a results-oriented move and which begs the question; “what result do you want from your marketing?” and thereafter, measuring the results as a follow-up.
Secondly, he stressed on the importance of differentiating marketing from marketing tools. Marketing tools include SEO, social media, digital presence, table toppers and so on. Marketing in contrast is on how people answer a number of key questions:
It is when people come to accept that marketing is maximizing the use marketing tools, would they then roll out far more effective campaigns.
A: Audience
According to Klose, most people create a product – say in this instance; a restaurant, bar, hotel, etc. - and then seek out an audience. That approach makes it difficult to implement an effective marketing strategy. Why, one might ask? Because it becomes extremely difficult to understand a concept’s category and without that understanding, it’s challenging to segment the population to identify targets (audiences).
Klose advocates looking at a market and asking the following question: Who has a problem? Given that owners and operators in the hospitality space are entrepreneurs, Klose suggests looking at what a given market is missing in terms of a restaurant, bar or hotel. Then, discover a audience’s pain point. This will not only help narrow down a concept, it will reveal if a solution already exists. Thereafter, conduct the feasibility study.
B: Brand
Assuming a restaurant or bar concept is the solution to an audience’s problem (established after a feasibility study), the next step is communication. The restaurant idea isn’t “just” a restaurant, the bar not “just” a bar, the hotel concept not “just” a concept. No, the concept coming to their market is a solution to the audience’s problem. When crafting a marketing plan, the messaging should thus articulate what problem the concept solves, and how.
C: Competition
How one views other businesses in the industry is essential. Are they competitors you need to stay ahead of? Which of them serve to corroborate an operator’s solution to an audience’s problem? Who are those who are not competitors at all?
Saying “Competition validates your idea and gives you a category,” Klose heads towards the validation camp. Is another concept attempting to solve the same problem? If so, could it be that an operator is bringing their own solution to the same market has latched onto something?
Identifying a concept’s category provides an operator with the opportunity to stay top of mind, to dominate that category. However, entering a market saturated with the same solution is quite another. That’s where a feasibility study is necessary. It can either expose whether the market is already saturated or if there is room for new entrants.
D: Differentiation
So, an operator has their solution to an audience’s problem. They’re confident in the completion of their due diligence. They have a brand identity and it communicates how it solves a problem. The competition is identified and the operator is moving forward with their solution confidently. What’s next?
Whether an operator subscribes to the idea that they have no competitors, want to crush the competition, or use competitors as a yardstick, they need to differentiate themselves. Klose says answering the questions below can help:-
That last question should be circled, underlined, italicized, and bolded. In fact, Klose asks his clients to write down 20 stories only they can tell. The outcome would give them plenty of marketing material and determine how to differentiate their concept from others.
E: Everything
Yes, “E” is for “everything.” As in, everything that makes a brand, a brand.
The brand’s logos and colors, the steps of service, food, drinks, even the pricing… These and more are the elements - the everything…that give a brand an identity. Understanding and applying Chip Klose’s ABCDEs will help operators maximize the use of marketing tools for their marketing strategies. There are a lot of solutions to problems out there, and even more noise. An effective marketing strategy cuts through that noise to put an operator’s specific solution directly in front of their target audience.
Source: External
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