To get into this elite club you need to earn a gross of at least $14 billion. Just ask Nike, who this year is rated number 499 with a total revenue of $14,954,000,000 (that’s billion dollars).
Ok, so it might not be in your near future to be on the list, but if you don’t set a goal that is at least attainable, then you are doing business for nothing. So how do you reach those goals? Set some pr marketing strategies that the top executives in your company will all agree on and create a plan. Not just any plan. It should be a marketing plan that includes the marketing strategies, publicity and how you intend to develop your company’s branding.
Hey, if you don’t include branding into your marketing strategy, then your efforts are for what? You need a focus. Oh, you think that increase sales is your marketing goal, right? Ok, that’s part of it. But you cannot sell products alone. No matter how much better or improved your product is than the competition, branding will outsell and outlast all products.
To help illustrate my point, Fortune magazine commented that this years issue people thought the “high tech” companies would be at the top of the list. Well to those people…surprise! It was again the big corps, with Wal-Mart as #1 ($351+ billion), Exxon Mobil #2, BP (Arco gas) #3, General Motors #4, Toyota, then Chevron and the list goes on. No high tech company appears until HP which placed #33. Microsoft was #140 with $44+ billion in revenue. This is “BRANDING”. These names are all well known. Even Nike which placed #499 has a strong branding campaign. It took years to build these. So don’t think a one-time campaign will establish your brand.
To start a branding campaign, a pr marketing strategy needs to be implemented. Along with an aggressive publicity campaign. Whether you are a local Orange County company, or a national or worldwide company, all PR Clients need to continue with their marketing campaigns to become successful.
If you have a limited budget, then get “street smart”. This is what we do for our clients. We develop programs, campaigns that will focus on the PR Clients core business. Many times companies will loose sight of their core business and then failure kicks in. To stop this from happening, you need to identify your position in your industry. Know your competitors strengths and weaknesses. Develop your product or service to meet customers demands and start a marketing strategy that communicates these benefits/features you offer. The way to capture more market share is to take it from your competitor. If they are on the Fortune 500 list, then it is easier, because as a smaller company you should be more flexible and quicker that they are.
If you want to discuss more about this pr marketing strategy, give us a call. We can make “great” things happen for your company.