You know you’ve seen this before. In your town a coffee shop goes in and it’s on that corner where there’s a one way or a divider and in order to turn into it you would have to cross over two intersections and make a U-turn but before you do that there’s a Starbucks that’s easier to access so you grab a coffee from there instead.
As a consumer you’re wondering, “why in the world would anyone put a coffee shop there?”
A few months later it closes its doors.
Another business added to the graveyard.
Marketing has changed radically but so much has remained exactly the same. At the end of the day a product that succeeds nails all 4 P’s of marketing. Today’s P is PLACE. In the case of the sad coffee shop that didn’t survive the place failed to meet the needs of the customer. Many businesses don’t bring marketing people in at the right time or for the right things. They stand up their product and bring us in for promotion. But great marketers know that market research and development will decide before you even launch if you will succeed.
What is your PLACE?
If you’re a brick and mortar business that’s pretty clear. It’s the physical location where your business is located. And when it’s physical, it makes it very clear what we’re talking about. But many businesses today are operating online and PLACE is a bit more confusing. Also many businesses are selling services that they themselves provide and so the person is also the place.
Your place is every time a customer or potential customer encounters you. Whether that’s at an in person networking event or experiencing you online in your stories or a video conference. Making sure that you’re in the RIGHT places is still crucial. Making sure you show up easily in those places is still crucial. Making sure you’re on brand anytime a customer encounters you is also crucial.
Here’s the deal. On brand is different for everyone. If I am a business coach who’s mission is to make businesses more professional I need to set the bar for what that looks like. If I am a developer of renewable energy technology who’s core value is sustainability it’s probably on brand for me to be in Birkenstocks and dressed casual. Whatever your brand is, be consistent. But don’t be sloppy.
Here’s my 4 Tips For Evaluating Your Place:
- Am I on brand?
- Am I showing up professionally?
- Is it easy for my customer to find me?
- Is it clear what I do and how to hire me?
Join us on Monday’s for more visits to the product graveyard and how you can use the 4 P’s to get the most out of your product and ensure it lives for many years to come.