Marketing is something that companies can spend millions, and millions of dollars on. Take Bank of America, who recently launched the new marketing strategy for Merrill Lynch- one of the many companies impacted profoundly by the financial sector apocalypse this past year and the ensuing market turbulence through the recession. Bank of America, who recently bought Merrill Lynch this past January, is spending $20-million dollars to market the company and rebuild its Wealth Management brand, in what we all hope is the tail of this recession (and the start of a comeback). Being that a whole lot of people flat-out lost much of their wealth over the past year, it’s not hard to understand how even a massive wealth management brand could suffer. But in many cases, your small business may not have the full backing of the Bank of America to reposition its brand in anticipation of a market recovery. So let’s look at another brand, one that’s used roughly the amount that Bank of America execs will spend on lunch with their clients any given Friday to create their buzz.

‘Paranormal Activity‘ A shoestring budget horror film recently released in the U.S. was originally slated to be re-made into a big budget horror film; but test screenings of the low-budge version were so well received that Paramount decided to take the Blair Witch route again. When a film lacks a major star, big production budget or some other marketing draw, it has to get by on its wits. So Paranormal Activity was released in select theatres for midnight screenings only- and in American University/College towns at that. Turns out the psychological imprint of low-budget paranormal horror films on stoned college students produces rabid brand loyalty. The studio has gone even further by creating a supply and demand call to action culture around the movie. If you live in a city where the film is not playing, you can vote and encourage others to vote to have it released there too. A call to action is one of the most crucial components of marketing strategies, but they have become increasingly obvious to ad savvy consumers. So new and innovative calls to action need to be employed by companies- this is one of the first time a call to action marketing strategy has been employed in film in this way. 

So these are two examples of diametrically opposed marketing approaches. One appeals to overwhelmingly (if not purely) rational insterests while the other appeals to those who want to experience a primarily emotional experience- or product. One spends a lot of money to reach their audience through “official marketing channels” while the other goes the exact opposite route, opting for the internet and scary midnight-screening word of mouth buzz. Had either gone the opposite route their marketing plans may have been disasters. Can you imagine Bank of America launching a shoestring budget midnight ad campaign in select theatres with a terrifying premise to shock viewers? I frankly would love it- being someone who appreciates the absurd. But really, this would miss the mark. Conversely, a low budget film like Paranormal Activity runs the risk of losing credibility if it adopted a big budget marketing strategy.

So these are good examples of how marketing is in itself a continuum. You benefit from understanding where you stand in that continuum and that location is where you begin to form your dialogue with the potential and existent consumer. It becomes the position from which you engage in discourse with competitors, and cooperation with mutually beneficial allies; it is rarely fixed. Depending on your industry, your product or your service, you can move vertically or horizontally in that continuum. So as a small, medium or large company- whether you’re a Vancouver business marketing yourself in BC  (yes that link gives you marketing clues despite what you may think on first glance) or a company with global reach, it’s important to see yourself objectively in regards to this kind of continuum- and from there decide what kind of marketing strategy best suits your brand, your product, your customer and your position.