How Purpose can help you see the bigger, strategic picture
Okay, we recognise that’s a pretty bold statement!
But it’s one based on our 15–year history of helping businesses to build their brands and boost their bottom lines – and it’s a view supported by some of the brightest minds in the marketing sector.
In our experience, there’s a disproportionate focus on the short-term in many boardrooms, with efforts concentrated on trying to pursue potential clients in the lower section of the marketing funnel.
And, of course, there is a place for such activity. We do plenty of it on behalf of those we work with.
However, what many businesses fail to grasp is that only a tiny percentage of their prospective customers are actually in the market to buy at any one time.
In fact, research in the B2B sector by the Ehrenberg-Bass Institute puts the number at just five per cent. This means that 95 per cent simply aren’t interested in buying at that moment … however good your marketing is.
At first take, that may seem a little hard to fathom. But think about it. How often does your own business make purchases?
That same Ehrenberg-Bass research found that, for instance, companies bought new computers every four years and changed their principal bank every five years. The numbers probably wouldn’t be much different for a new telephone system, IT support contract, payroll software, office furniture and so on.
And it’s a similar story with many B2C products and services. How often does a household buy a new washing machine or switch broadband supplier?
So, how then can it make sense for businesses to concentrate their efforts on simply trying to convert potential clients when many of their targets have little interest in reaching for their credit cards at that point?
Yet we still see this approach time after time from companies who just want to jump in and “do stuff”, throwing money at various marketing tactics in the hope that they will yield a quick return.
And there are plenty of agencies out there who will take their money – and, more often than not, fail to deliver anything meaningful in terms of results.
That’s where Purpose Media is different.
Our strategic approach considers a company’s marketing needs holistically and ties them to its overall business goals.
Of course, we look at what can be achieved in the short-term and how we can persuade the five per cent of customers who are in-market immediately to buy from our clients.
But we also devise campaigns to target the 95 per cent … building our clients’ brands, ensuring that their digital assets are powerful and can be discovered easily, and, crucially, that it is their products and services that come to mind when a potential buyer moves to in-market.
It’s a simple truth that the brand most easily remembered is often the brand that gets bought. And we certainly believe that people are more comfortable buying from those they are already familiar with.
We help clients to ‘prime’ their markets.
We analyse their competition and industry trends, build a detailed knowledge of their audiences and then link their brands to relevant buying situations by understanding the pain points of those who might be in need of their products … now and in the future.
We make sure they have great messaging which stands out and explains exactly how what they do meets their potential customers’ needs.
And we map a KPI-driven approach to capitalise on short-term opportunity and longer-term business growth and to demonstrate return on marketing spend.
If you can’t see any further than the five per cent of your customers who might want to buy right now, we’re probably not the agency for you. But, if you can see the bigger, more strategic picture, let’s chat.