There are many benefits to marketing your business: whether you're a mom and pop store or a multinational one. From improving the customer experience to boosting sales, an effective marketing strategy has proved essential for businesses of all types.
All of this work to market your product or service can cost a lot of money. However, it's worth it because marketing is one of the most effective ways to sell your business.
Marketing can be tough, but thankfully there are all sorts of marketing strategies up for the job. Reverse Marketing is one such strategy that's becoming increasingly popular among businesses. Tom Fishburne said "the best marketing does not feel like marketing at all" and that might have been because he was referring to Reverse Marketing.
What is Reverse Marketing?
Reverse marketing is when the customer actively seeks out a firm for their product instead of the firm seeking out the customer. In theory, it's similar to reverse psychology in that you can get someone to say or do something by telling them the opposite of what you want.
Unlike traditional marketing methods that rely on advertising and proactive selling, reverse marketing lets end consumers find a product or service themselves. Traditional marketing, also called coercive marketing, relies on businesses to find their specific target market and then convince them to buy their product or service.
In reverse marketing, businesses give information about their products and services to consumers for free. This provides the potential customers with advice and helps them weigh their options. For example, Reverse Marketing is primarily focused on building customer loyalty and creating brand value--both of these are important features of this kind of marketing.
Examples of Reverse Marketing
The Patagonia Jacket's "Don't Buy This" campaign
Reverse marketing can be very successful when implemented carefully. A recent example is the Patagonia Jacket's "Don't Buy This" campaign, which sparked a 29% increase in sales.
Patagonia was committed to environmental and economic sustainability, and it showed in their marketing campaign. In a specific campaign, they launched "Don't Buy This" ads on Black Friday when their target audience would be most engaged. The ad encouraged customers to think about what they were purchasing before making every purchase and spurred conversation about mindless consumption of things we don't need.
Though Patagonia wasn't telling buyers to not buy their products, this campaign showed Patagonia as a company who is environmentally aware and sustainable which resonated with Patagonia's customer base and increased sales.
Dove Campaign for Real Beauty
A popular example of reverse marketing is the Dove Campaign for Real Beauty. In this campaign, Dove's competitors were emphasizing the flaws of their consumers and how their products could cover up or improve those flaws. Dove, on the other hand, focused on the natural beauty of its consumers and celebrated common women's beauty- rather than promoting its product. Using real women in their campaign, Dove was able to generate sales of more than $1 billion because of this one campaign.
The Swati Foundation is a perfect example of a small business opting for Reverse Marketing. The foundation seeks to support people who suffer from neglected diseases like Bone Disorder, Kidney Inflammation, Alzheimer and Urological Disorders. This is the perfect way to show what Reverse Marketing can do for your business!
A pharmaceutical company, the message is that it's committed to delivering true health and wellness to its end consumers.
Aviva India, an insurance company, is an example of Reverse Marketing that's been successful. This company tells its consumers that they are leading a happy life and then asks them to make it even better by learning and trying new things. These advertisements are motivating enough to convince people to choose Aviva over other competitors.
Why does Reverse Marketing work?
As adults, it's important to listen to our own instincts. This is hard, because there are so many distractions in the world. Many people try to compel you to do something with their words or actions. If this compulsive behavior continues unchecked, your subconscious mind will start to resist what others say and do. Soon enough, it may be doing the opposite just because it has internalized that idea.
Commercials that scare consumers into buying certain products are called “threat strategy” commercials. For instance, an advertisement might tell a consumer that their car engine will develop a snag if they do not use a particular additive. This scares the consumer and forces them to buy the additive from that one company instead of from competitors. However, reverse marketing means moving away from this “threat strategy” and striking a chord with consumers by offering what’s best for them.
How to create an effective Reverse marketing campaign?
Reverse Marketing is not as easy as it looks and requires a lot of work. There are many things to keep in mind while thinking and creating a campaign:
- Step back to evaluate your business's current image and the target groups you want to appeal to. Identify what is important for the appropriate demographic and why they should care about your company.
- Once you understand how our requirements can best serve your needs, tell them what your product or service is about.
- Persuade your consumer to close the sale but don't stop there. Let them know you want to help their business too; offer them something of value for giving you their email address or phone number.
When you're a new business, you want the best chance of success. For that to happen, you'll want to stay away from Reverse Marketing. statistics have shown that only established brands have been able to leverage it and do so successfully.