I Needed to Buy a New Watch

It has been a while since I went shopping for a watch. My everyday watch was acting up and a new battery was not the cure. I set the now unreliable timepiece aside and used one of my formal dress watches (a bit overkill on days working from home) until I replaced the old one. 

I was a bit overwhelmed to realize that even without including antique, vintage and collectable watches, there were still tens of thousands of choices. A single style might be available in 5 different sizes! There might be 3 different dial colors. Depending on the “expert” there are 3, 5, 7 or 10 different movements (self winding, battery, etc.) and more choices when it comes to attaching it to my wrist (bracelet, leather strap, etc.)

I knew I had to organize this adventure. I started by establishing a budget. Considering that watches are available from about $20 to $700,000+, I was able to eliminate a few and focus on the more practical ones! I wanted a second hand, date window and bracelet rather than a strap. As far as the movement, I wanted to avoid the battery changing so it was either an automatic (tiny generator that charges a long lasting battery whenever there is movement), self-winding - 100 year old mechanical technology or light powered! How cool is that? A watch powered by light!

About midway in this quest I started to see the similarities between the process I was going through and what I have helped clients/customers go through when they are considering investing in their marketing. While I established the criteria I wanted in a watch (time, date, bracelet), my clients had a message they wanted to deliver in a specific timeframe, to a group of people of a particular age. 

We both had to establish a budget, consider the look and feel of the items in question and how and when we could move forward. I, or one of the associates I work with, provided the guidance for the client and made suggestions to ensure a good result.

My watch purchase was influenced by the gorgeous literature provided by the manufacturer, high-end displays at the jewelry store, luxurious online ads, reviews by ‘experts’ and aggressive pricing. I can only speculate as to what portion of the purchase price was needed just to cover the marketing since it was essentially “broadcast” to thousands of people that never will be a viable customer.

You, on the other hand, guide your client to be as accurate as possible in delivering their message to exactly the people most likely to respond. 

While my watch saga certainly illustrates how marketing influences our buying/investing decisions, we make similar choices every single day. The price of gasoline displayed on huge electronic signs, dozens of “free with purchase” offers, the neverending delivery of online ads if you made the mistake of shopping online! It is all marketing.

If you consider three simple realities: 1- Marketing is everything that influences a sale. 2- Nothing happens until somebody sells something. 3- Advertising informs, Marketing motivates; we are generally helping our clients market their products or services. It is however essential to discuss with your client exactly what they want to accomplish.

When an auto repair business delivers a message that they have certified mechanics, they are advertising. When they say new customers get a 10% discount, that’s marketing. 

You and your client might consider that effective marketing can lead to a sale today. Good advertising might get you there tomorrow (or at some future date). This is the strategy used by many (most) name brand companies. They have an ongoing schedule of both advertising and marketing messages. From soft drinks to automobiles, this approach continues to be effective. 

Discussing with your client their annual budget for advertising and marketing and applying that budget to several promotions throughout the year, just might be much more effective than putting all the eggs in one basket.