Promo Product Lessons from March Madness™

The NCAA college basketball tournament is a microcosm of marketing. How rigorously you prepare, strategize and execute determines your performance and bottom-line results.  Both basketball and marketing require planning, competing, attacking, defending and adjusting. 


So, as we head into the Final Four, we thought we’d take some time to share a few promo product lessons we can all learn from March Madness, that time of year when 68 college basketball match-up for a chance to compete for the NCAA Men’s Division I National Championship title. Here are our lessons that marketers can learn about promotional products from the “Big Dance”:


A good product markets itself.  You don’t have to market March Madness - millions will tune in and arenas will sell out. Why?  March Madness is a great product – it markets itself!  So do promotional products!  Promotional products are tangible items that continuously promote your brand.

Have a game plan. Determine your marketing objectives before tip off .  Just like coaches prepare scouting reports of their opponents, marketing pros need to do their homework to develop an overall strategy for success.  Having a promotional product marketing plan in place can help you outline next steps throughout the year. Preparation is key. Ask yourself:   Who are you playing/Who is your target audience?  How will you relate to your fans/How will you reach your target audience?  


It’s emotional.  Both basketball and promotional products hit an emotional note. Anytime you have grown people yelling at their television sets, you know an emotional connection has been made. Promo products also create an emotional connection by engaging the five senses.


Execute the fundamentals.  In basketball and marketing, not only do you need to have a strategy, you also must execute the fundamentals. Is your branding consistent? Are your promotional products useful, creative and unique?  Make adjustments, if needed. Your marketing plan can (and should) be revisited and adapted throughout the year. As Duke coach, Mike Krzyewski once said, “I try to see each new season as a new challenge because I have a new team to work with, new opponents to encounter, and often new ideas and theories to try.”

Adjustments can also be made throughout the game. If a certain play or lineup isn’t working, the coach has the ability to change things on the fly. The same is true for promotional product campaign tactics and strategy. While having a roadmap is essential to keeping your eye on the prize, it’s important to recognize that the strategy can be adjusted should new circumstances arise. Be ready to pull out the surprise play.  Match up smartly with your opponent.  Be clever, bold and create buzz!
 

The underdog can win.  Everyone loves a Cinderella story!   Small guys are facing the giants and seeing just how good they really are.   Broadening your horizons will allow your team/business to be exposed to a larger world. In both college basketball and the business world, teams/companies aren’t operating on equal footing. Some have bigger budgets, more talent, and better-known brands. But, the tournament never plays out according to who “should” win. How about Florida Gulf Coast University this year?! Even small businesses can stand out among the traditional giants!

Engage your fans.  Just as cheering basketball fans inspire on a team, building and cultivating fans with promotional products help fuel growth for your business. 

Cash in on momentum. Basketball, like business, can come down to momentum. When things are going well, don’t over-think it — make the most of the momentum and trust in your team.  If needed, call a time-out and regroup to talk over a new game/marketing plan.

Stay hungry. Whether you’re a basketball player or a marketer, you have to continually stay motivated and passionate about what you do, communicate openly with your teams, and take risks to advance and succeed.

Remember your statistician. Most great teams know the value of keeping stats beyond just the scoreboard.  Make sure you identify and track important numbers related to your promotional products marketing efforts to see where you’re scoring and where you might be fouling out.

Just like March Madness, with preparation, adjustments and motivation, your marketing team can create its own Cinderella story.  Game on!