A couple of weeks ago, I spent some time with a client in Richmond, VA. My meetings did not begin until late morning, so I had the opportunity to go for a run before my day started. The hotel where I stayed was on a frontage road, just off one of the major interstates in Richmond.
This frontage road contains a number of billboards that are visible from the main road. One of these billboards caught my eye and I couldn’t help but snap a picture. (If you’re not able to read the text on this picture, click on the image to enlarge it. If you’re an email subscriber, you may need to click through to the WorkPuzzle site to see the image.)
As I read this billboard, I couldn’t help but think that this poor guy has been driven to distraction by his low cost competitors. I think the “15 minutes could save you 15% or more in car insurance…” must be what he hears when goes to sleep at night! To combat this messaging, he does the marketing equivalent of standing in a crowded room and yelling “Discount! Discount! Discount…!” And while he is yelling, the rest of us are wondering what creative thing the little gecko is going to do next.
Before we get too critical, we have to give Geico and some of the other low-cost insurance companies credit for running effective marketing campaigns - They are good competitors. But, to try to compete in such a reactionary way does not seem very effective. Most people perceive State Farm as a full service insurance company that is able to offer their customers a higher level of service. This is not a bad position to have in the marketplace—pay a little more and receive an outstanding level of service. From a branding perspective, it would be more effective to reinforce their core strengths than to blatantly publish a “me too” message in response to their low-cost competitors.
We’re all great armchair quarterbacks when it comes to evaluating someone else’s problems, but does this type of thing happen in the real estate industry? When it comes to recruiting, it happens every day. Many of the most prominent real estate companies in the country are competing for agents against companies who have low cost or alternate business models. When the competitors start to have even limited success, it is amazing how quickly even successful companies will succumb to the temptation of watering down their recruiting message (and sometimes even their business model) to compete.
How do you keep from making this mistake in your company? Here are some guidelines that will help:
- Make Sure Your Branding/Message is Believable. What is the value proposition that you offer the candidates who interface with your organization? You should be able to articulate this in several sentences. Now ask yourself: Would you be engaged by this proposition if you were a candidate? Would you encourage one of your kids to accept this proposition for their career? If not, you need to adjust your message until it passes this test. If you do change your message, do so based on what candidates think, not what competitors are pushing you towards.
- Stick to Your Core Message. Why does everyone know the Geico marketing proposition? Because it has been repeated so many times that it is ingrained in all of our minds. You don’t have to run an enormous, multi-year marketing campaign to take advantage of this principle. For example, we have one client who has boiled down their recruiting message to the following: “We’ll take you by the hand and show you how to do it.” They repeat this message many times during the recruiting process, especially when they face objections.
- Be Willing to Say No to Some Candidates. When you know who you are and what you stand for, you are going to find some people at odds with your message. When this happens, don’t be afraid to say, “You may not be a good fit for our organization,” and then suggest they go see one of your competitors. By doing this, you’ll not only avoid making some bad hires, but you’ll also cause the most talented candidates to respect your position. Some of those candidates will be intrigued by your clarity and reengage. Others will remember who they can trust to tell them the truth when their low-cost alternative lets them down.
Maintaining a consistent message and staying true to your recruitment brand takes courage--especially in today's economic climate. But, it's an investment that will produce a return and help you maintain your dignity. Without this focus, you could be the next person figuratively shouting "Discount!" in a crowded room.
Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.
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