Merlin’s MagicBy joanne | 10th March | Marketing Ideas, Marketing Strategy, Marketing Training
Nick Varney, Chief Executive of Merlin Entertainments (the group which owns Legoland, Alton Towers, Madame Tussauds and others) was interviewed on the BBC yesterday morning. He was discussing the company’s figures for this year; having just posted their ninth year of double-digit growth.
Mr Varney put much of that growth down to the way they have diversified their attractions and targeted in on key markets for each one. This is one of the critical elements of strategic marketing – and I was thrilled to hear him highlight the importance of marketing in his business; the second biggest visitor attraction operator in the world.
Whilst your company may be smaller, focusing on key target audiences is no less important, so what tips can you take away from Merlin’s example?
- Know who you’re talking to – you need to understand who your business wants to communicate with. If you target ‘anyone’, you’ll get ‘no-one’
- Really understand your audience – the more you know about them, the better. If you can focus in on your target industry, or target customer and understand their needs and problems, you will be better able to promote your products and services
- Speak their language – When you know your customers, you appreciate their needs and can then talk to them in a language they understand and promote the benefits they value
- Diversify your products – if different products suit different audiences, target different people with different products and messages. One message definitely doesn’t suit all.
Well done Merlin – and thank you for highlighting the importance of marketing.