One of my daughter’s favorite movies is the Greatest Showman, which depicts the genius of PT Barnum. Barnum, best known for his role as a founding member of Ringling Brothers and Barnum & Bailey Circus, understood building a brand in a way few did back in the 1800s, and was ahead of his time in the way he went about getting people excited about what he had to offer. Because of a myriad of factors, including animal rights backlash and shifting consumer tastes, the circus has closed down.
Though many of us will not have the opportunity to experience Ringling Brothers and Barnum & Bailey Circus, as Chief Mile Owners, there are several learnings we can take away from PT Barnum’s genius.
- Understand the Power of Word of Mouth: Consumer sentiment will be a huge factor in deciding where to spend those hard-earned dollars. It is absolutely vital that your local brand builds a positive relationship with your fans at every touchpoint. There is enough evidence that shows that consumer reviews can sway an initial visit or purchasing decision. Make sure that you stay on top of reviews of your local brand.
- Combine Earned and Paid Media: Whether you have received positive coverage in the local newspaper or you were included in a social post for a local school or church, leverage that exposure with a strategic investment in paid media. Boosting a social media post in some cases may be all that you need to combine paid with earned media.
- Always Champion Your Story – Power has shifted from the companies to the consumers and consumer is always looking to become what they really want to be (smarter, creative, caring, etc.). Always look to tell your brand story with every customer encounter.
- Put Aces in Right Places: When whether it is answering phones, greeting clients/customers or actually performing the service, one of the main responsibilities of the Chief Mile Owner is to put the right talent in place to take care of the customer. Understand your talent and put them where they you can get them excited about growing your sales….or at the very least not help you lose sales.,
- In the early years, PT Barnum had to work with a lot of trial and error. But he kept on believing and tweaked his approach. When times get tough, which is more than likely to happen in your local business, keep on believing. But believing is not enough. Ask the right questions, take note of the tactics that are not working and make strategic pivots when necessary.