Now that we’ve all recovered from the final episodes of “Game of Thrones” and said goodbye to our favorite characters (ahem, dragons), it’s now possible for us to step back, take a larger view, and begin to understand some valuable lessons from the series. Completely apart from the sex and violence airing week to week, there were several strategic tactics that can be applied to the world of marketing. Take a look at these “house words” to help you channel your inner Jon Snow (or Daenerys Targaryen) and take the business world by storm. 

1. Listen to Whispers

Knowledge is power, and that doesn’t just mean industry knowledge (although you should always strive to be an expert in your field). Make it your business to know your customers and competitors inside and out. Use social listening tools to monitor online chatter. Attend networking events and cultivate “little birds.” If the demand for your product or service is shifting, you want to know as early as possible. Try to stay a step ahead of the competition. 

2. Your Niche is Your Kingdom

Your niche is your kingdom, and you must own it. Picture your marketing plan like a battle plan. In battle, you want to pick a position on the field that will give you the best advantage. Too often, companies start to market to too diverse a crowd, instead of zeroing in on an underserved niche they can own. Start narrow and expand from there.

Depending on your industry, your client base might be defined by a particular interest or a location. Consider that carefully when situating your business HQ. Each setting in Westeros has distinct pros and cons, from the Iron Islands and Winterfell to King’s Landing and the Vale. Select a city with a vibe and feel that matches your product and corporate identity, but also one that is less saturated and less expensive. Strategic planning can help save money on rent and baseline expenses, freeing up money for marketing and growth. Also, finding a city with an affordable cost of living, like Kansas City or Tampa, for instance, can make your company more desirable to future employees.

3. Be a Good Host

As a general rule, hospitality is important in Game of Thrones. We don’t need to revisit the Red Wedding — it’s too soon, too soon! — but it’s still important to take care of your guests and live by The Golden Rule: Treat everyone, customers and competitors alike, the way you want to be treated. This will help you not only develop a relationship with others in your industry, but also build a good reputation in your field. In business, a solid reputation is worth its weight in gold.

4. Pay Your Debts

Running and operating a company requires a good deal of money, but like a Lannister, you should always pay your debts. Small companies often incur complicated tax implications that can be difficult to keep track of. Using an online tax calculator can help you keep your accounting current, so you don’t end up with a surprise at the end of the year. Using online tools also can help you organize documentation needed at tax time each year.

5. Keep Alliances Strong

The strategic rules of business and marketing are no different from strategic rules of the show: Nobody can win the Iron Throne alone. You must be able to work together with other companies in order to create your own successful business. Working with others can not only help you mitigate your own weaknesses, but also can help highlight your strengths. And working within other industries can help make your company well-rounded and more complete. 

6. Fly Your Sigil Proudly

Your sigil proudly announces exactly what your company and its product or service are all about. You should wave that flag proudly! Representing your business in person at industry events or conferences is a fantastic way to spread the word about what your business has to offer. These networking events provide an excellent space to meet new clients and grow your customer base — and to keep an eye on your competition, too. Making a good impression at a trade show takes some time and planning, but the preparation is well worth it in the end. 

7. Winter is Coming

Never forget: Winter is coming. Even if your business is running well now, you need to always have a backup plan. For marketing, it’s important to keep customers, campaign ideas, business opportunities, and new products continually in the pipeline. Have contingency funds in reserve. Evaluate your data security often and consider moving information to the cloud. Sometimes, adjusting to a downturn in business can mean adapting your marketing strategy to adhere to the outside market conditions. Keep your ear close to the ground and be ready to switch to plan B when the first snowflakes start to fall. 

8. Keep Your Friends Close (… and Your Enemies Closer)

Just like the rulers and warriors in Game of Thrones, you must understand and know your competition. it’s important to do a full evaluation of all the competing companies in your industry. This means learning what they do — and do not do — well. It means understanding how you can improve your own company based on your findings. Remember, too, that this process must be ongoing, and requires more than a one-time evaluation. Just as your own business is constantly changing and evolving, so are your competitors. Regularly evaluate your competition and the surrounding market to stay on top of current trends.

9. Bounce Back Quickly

Did Cersei let being paraded naked through the streets stop her? Did Jon Snow let DEATH stop him? Not at all. it’s important to remember that we’re all going to take our lashings in business. Sometimes we make a wrong decision or don’t react quickly enough to a changing market. Be prepared to quickly realize you’ve made a mistake, and find a way to turn the ship around. It does not help to dwell on your missteps in a fast-paced business setting. Successful businesspeople learn from their mistakes and come out stronger and more knowledgeable in the end. 

10. Stay Unexpected 

Dragons, wildfire, massive spear-launching catapults, and obsidian daggers were just some of the deadly secret weapons that helped characters gain the advantage in “Game of Thrones.” You can wield the same element of surprise in business by always keeping your approach fresh and your marketing plan creative. This means continually evolving and staying one step ahead of your competition. If you’re able to channel new ways to reach your customer base, you can gain a distinct advantage in business. Also, in today’s marketing world, creativity can take the form of providing a better customer experience and involving the customer in the process. 

In business, you can learn a lot from the machinations in Westeros, whether it’s knowing your competition, doing your due diligence, or making strategic plans for products or marketing. Just try to deal on the level, and keep your head.

 

 

By Laura Gayle, Business Woman Guide