Credibility marketing: Advertising at virtually no cost
Businesses and marketers often face a common obstacle: How to advertise a brand, its products and services under budget constraints. With the many costs involved in running a business, advertising budgets are one of the first to shrink when funds are tight. Therein lies another challenge. With less advertising, how can businesses garner enough attention to attract consumers and generate sales? If this problem sounds all too familiar, breathe easy—there is an alternative strategy that incurs little to no cost. It’s called Credibility Marketing and it relies on a business’ experiences to generate brand exposure.
The core element that fuels Credibility Marketing is a concept called third-party endorsements. It’s the idea that support by third-party consumers has higher credibility than messages created by marketers. Remember those Ditech™ ads that said, “People are Smart”? There’s no doubt that consumers are smarter, or at least more well-informed. “Information at your fingertips” is truer than ever with social networks, blogs and wiki (community operated content) websites. With this wealth of information, consumers are now more skeptical and expect a higher level of credibility.
Businesses can generate credibility by using third-party endorsements, such as testimonials. When businesses get good at what they do, people start talking. Offering prospective customers testimonials or blurbs about another client’s positive experience is a big credibility booster. Essentially, it’s telling consumers “We have happy clients. Here is what they’ve been saying.” So if your clients are saying positive things about your business, listen! Or better yet, invite your clients to complete a simple survey that asks about their experience. Including a full name and job title along with the testimonial also adds more credibility.
Another third-party endorsement is a case study. Consumers like product demonstrations. It gives them a chance to see how the product works, what it can be used for and how effective it is. Case studies are demonstrations on paper. Use a more detailed survey to collect information for a case study. Ask the clients why they chose the product, how it satisfied their problem or need, and the results of their purchase. This information can be relayed to other consumers to present your product as a solution to their problem.
If your business is looking for a large audience, media publicity is the way to go. Dabbling in the publicity arena may seem scary because businesses feel as though they have no control over what is being said. That’s not entirely true. Whether a business is holding an event, introducing a new product or receiving an award for superior service, the media can be informed through the use of press releases. Here’s a tip. Journalists receive tons of press releases, so to cut through the clutter, be sure to research their target audience. For example, an editor for a technology magazine is only looking for press releases that are relevant to their tech-savvy audience. Also, be conscious of editorial deadlines and send press releases accordingly.
Using testimonials, case studies and press releases is a cost effective way to advertise a brand, product or service. These third-party endorsements are great credibility boosters that give consumers more confidence in a business. So when your business is working with budget constraints, try these alternative methods to save money and improve your brand’s image.
