How to be a Middle Market David
Think “Share” not “Buy”
Rosenstrauch points out that people spend the majority of their screen time on their phones and other devices these days, not watching their TVs. Let Budweiser and McDonald’s spend millions on a 30-second Super Bowl ad. Middle Market companies should, instead, leverage social sharing. Tweet positive comments from customers. Use Instagram to share pictures of customers enjoying your products. Make a short, inexpensive video—you don’t need a studio—and ask your employees and customers to make it go viral!
Having a celebrity spokesperson is a popular approach to marketing, but it’s also an expensive approach, with typical fees upward of $100,000. But that’s for TV. As Rosenstrauch explains, “A lot of times, you can get a celebrity to do social media for a fraction of the price. For as little as $10,000 to $20,000, they’ll send out some Tweets or post something on their Facebook page.”
Rosenstrauch also suggests broadening the definition of “Celebrity” to include people like popular bloggers and YouTubers. “Consumers often see that type of celebrity as more authentic,” Rosenstrauch explains, “because they know the TV/movie stars and athletes are getting paid. You can get a lot of engagement for a fraction of the cost by getting the right blogger to review your product.”
Look for Hidden Resources
Rosenstrauch also stresses that most retailers have marketing departments dedicated to moving products off the shelves—but that many Middle Market companies either don’t know those resources are there or don’t realize that they can leverage them. “You need to get the retailer excited about your product,” Rosenstrauch explains. “If you get the retailer excited, they’ll help you get the shopper excited. You can do this by getting your customers excited through using social media.”
The social revolution has democratized marketing, putting Middle Market firms on equal footing with huge corporations and their multimillion-dollar budgets. “It doesn’t matter how big you are as long as you have a big idea,” Rosenstrauch concludes. What’s your big social media idea to battle the Goliath in your industry?