At Michigan Creative we have been busy rebranding, building a new website, coming up with a new message, and deciding what we could sell as a product to further expand our company. This discussion was driven by Brian Town, the CEO, because he has always said that to survive as a marketing company that we would need to branch out and sell a product. There have been many ideas tossed around, but none have really stuck and they all have gotten so complicated so quickly!
We got to thinking, however: What is the true definition of a product? According to dictionary.com, it is defined as “a thing produced by labor”. This is a very accurate definition but needs to be expanded. I believe that the definition for the word ‘products’ should be “something consumers purchase to provide value to them that is produced by labor”. In my opinion, products are not purchased if a consumer does not see value in it.
When using this definition, it was easy to come to the realization this week that marketing companies like us really do sell a product –actually quite a few products. Our product is the service we provide before and after the sale, the videos and websites we create, the relationship we build with clients, and so much more. Marketing companies really do provide services as well as tangible products that consumers find value in.
This conversation took us to our next point: How do marketing companies keep their products fresh? This part is relatively easy:
- Keep up with the trends. Everyday there are new websites and apps, new programs, new design software, and new cameras to play with. Subscribe to industry newsletters, watch social media, and read magazines and newsletters to keep up with the new and upcoming trends.
- Accommodate the customer to provide them with the products they need. It’s important to evaluate your client’s needs and provide what they are looking for. If you don’t offer a particular service, partner up with another local businesses so you can!
- Just provide great service. Customers like to be treated well and receive the product they asked for. If they aren’t happy, take the time to make it better. If they are happy and thank you for your service, make sure to say you are welcome and ask what you can do to be even better. Happy customers tend to be repeat customers!
I hope this blog posts helps all the companies out there that feel like they don’t have a product to sell. No matter what your industry, you do sell products even if you are simply a service provider.
Until next time,
“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” ~Sam Walton