5 keys to help you grow your business
The consumer is changing as the digital world evolves. To grow your business, you need to keep an eye on how the consumer relates to a brand or product.
Today’s article looks at the latest trends in marketing and how to attract new customers. What better way to achieve this than to learn from someone successful in this field?
I had the pleasure of chatting with Horacio Genolet, CEO of Ogilvy Latin America, Global Brand Manager of Coca Cola and member of Ogilvy’s global Enterprise Leadership Team. Thanks to his experience, Horacio knows how advertising agencies impact clients’ business strategies.
In 1993, in his native Argentina, Horacio joined Ogilvy & Mather for the first time. He later left the agency to work as Marketing and Advertising Manager at Telecom Group. He then worked for 3 years at Carat Media Agency as responsible for the Development of New Business at regional level. In 2004 he returned to Ogilvy, where he still works today.
The worldwide president of Ogilvy appointed him general manager of Grupo Ogilvy Mexico, where he worked with more than 300 people. He is the director of Ogilvy Latin America for Coca-Cola and Pfizer.
- One of his achievements is attracting clients such as Aeroméxico, Coca-Cola Company, Liverpool, Nestlé.
- In 2011 he launched American Express’ acclaimed global campaign, “My Life, My Card”.
- The publication “Líderes Mexicanos” recognized Horacio as one of Mexico’s 300 most influential leaders for 5 consecutive years.
- He was Chairman of the Board of AMAP (Mexican Association of Advertising Agencies) and chaired the Board of the EFFIE Awards, organized by AMAP.
Horacio worked in almost all marketing disciplines, from creative, media, data, design and social media content. Making companies to almost unimaginable achievements is not an easy task. How did he do it?
Get to know your potential customers
To sell your product you must have models that allow you to understand people and connect them with your brand. The data available today help you gather accurate information from your potential customer.
- What are they doing?
- What do they like?
- How do they seek information?
People receive about 1,000 brand messages from text messages, WhatsApp messages, online ads and street advertising. Your company’s task is to grab the attention of your potential customers in a saturated landscape.
Imagine a 22-year-old golfer from Minnesota and a 55-year-old golfer from Miami looking for a new golf club. They are different people looking for the same product.
With the data collected, you can create a near-perfect model that will make you deliver the same marketing effort for both.
Focus on what the consumer wants
Understand the specific need your customer has. Stop trying to fit him into what you have!
You may want to create a website to create your online sales channel. However, as Horacio points out, this may generate 3% of your sales, but if you develop a different and innovative product, your sales may increase by 50%.
Find the right Go to Market strategy for your company.
Horacio had the challenge of pre-selling 800 cars for the new Mazda 3 launch in Mexico. The problem was that those cars were not available for another 3 months. Horacio analyzed the information the company gathered from its customers:
- How are they searching?
- How do they ask competing companies?
The solution, create a virtual experience because people could neither touch the car nor drive it. The result: they managed to sell 1,200 cars with a down payment of $20,000.
In this case, you can see that they understood how to present that car to potential consumers.
Build your brand
A strong brand with credibility and values is like a spotlight that makes your business shine brighter and invites your customer to say: “I want that brand”
“One example is the mortgage I took out a few years ago. I always recommend my mortgage company because they gave me a platform that showed me the process, step by step. It also gave me immense peace of mind with the paperwork. No other company gave me peace of mind.
I perceived a ‘brand experience’, and it was what I received from that particular company and why I would recommend it”
So, you can see that the brand is your company’s most important asset. It is your differentiator and what makes a connection with customers. Do some self-analysis. Why do you always return to the same e-commerce?
Consumers value brands, regardless of low costs. Mass product companies know this and continue to invest in their brand.
- Identify the value you offer. When you become aware of the value your company offers, you will begin to build an integrated way for the brand.
- Add a differentiator. Picture two stores that offer furniture at the same price, with the difference that store A supports vaccination processes and store B does not. Which one do you choose? Store A has that differentiator that will make the customer choose it.
- Dedicate time to it. The brand has to be built. So invest and dedicate time to it.
- Aim to build a strong brand. Make your brand the first one that comes to the consumer’s mind when choosing a product.
- Evolve your services. Consumers are demanding. The moment a new brand offers better service or connects with your customers they will leave, no matter how many years you’ve been building your brand.
Work in a more integrated way
Due to the complexity of marketing today, you must work in an integrated way with different partners; They can be technology, data, process issues, or creative collaborators.
In Horacio’s case, he has partners focused on content creation, which his company does not have.
COVID led to working in a more integrated and collaborative way. You remember that many of your client meetings used to take two or three hours. Now the productivity of those meetings is 10 times higher, taking about 45 minutes.
With teamwork, you can develop success stories. In one product example, with the help of logistics specialists, Horacio achieved an increase of almost 30% in sales.
Creativity cannot be automated
Creativity is your differentiator. It is the added value you can bring to your company. You cannot buy it from an agency. It is unique, and it is part of you.
Some believe that data is useless. However, it helps to strengthen creativity by developing ideas and solutions. Likewise, platforms, technology and consumer understanding help creativity.
Grow your business tips.
Growing a business takes time, similar to a plant, it needs attention and dedication in order to thrive. With the right tools, advice and support you can make customers prefer your brand.
- Know your potential customers.
- Focus on what the consumer wants.
- Build your brand.
- Work in an integrated way.
- Creativity cannot be automated.
Another piece of advice you should take into account is: do what you preach.
“A lot of the discourse that our company says we don’t practice. I think there is a very big challenge with that” (Horacio Genolet).
And you, what is it that hinders the growth of your company?