The Golden Circle of marketing. Are you familiar with it yet? You should be! Because this is of great importance if you are going to engage in marketing your company: whether you are a start-up or have been around longer.
The Golden Circle concept revolves around three factors: What, How and Why. Through the application of these three factors to your company, you will learn how you can start to differentiate yourself from your direct competition and perhaps gain insight into new opportunities.
Do you want to know what these three factors mean and what your company can do with them? Then be sure to read on and apply it to your marketing plan! Do you realise how important these factors are, but find it difficult to work with them yourself? Full-service web design agency Monkey Vision is happy to help you! We can make your website in London, but also go a step further and help you figure out your corporate identity! Interested in help with this or a new website? Feel free to contact us.
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The Golden Circle of marketing model
The Golden Circle model was coined by Simon Sinek. Not only is he the creator, he even wrote a book about it. Why? To teach people the importance of finding the Why behind their company.
You can think of this model as three different layers of an onion: the outer layer, the middle layer and the inner layer. The outer layer is the ¨What¨and layer below it is the ¨How¨. The core of the onion is the ¨Why¨: the most important point of this model and where many companies go wrong by not applying it correctly.
We are going to tell you more about the three points from The Golden Circle of marketing: the What, How and Why. So in the United Kingdom, this can be translated into: What, How and Why.
Marketing point 1: What?
Every company knows what they do. Of course, this can really be anything! You can think about selling cars to making websites. So it's all about the products or services your company offers.
This part of the Golden Circle model is one of the easiest to fill in, as it is often not difficult to describe what a company does. However, it is important to keep it specific and write it down briefly but powerfully.
So this is the foundation of any company, but this model is mainly about having a clear goal in sight, which allows you to better present yourself in the market. So this is mainly about depth.
If you answer this question from the Golden Circle model, you also know one of the starting points for your new website: your service. Tell us your What and we will create a website to match.
Marketing point 2: How?
So when you arrive at the middle layer of the Golden Circle model, you arrive at the How. Here it's all about how you sell your product or service. This is already a slightly more complicated piece of the model that you need to think about. It's about the things that make your company unique and how you differentiate yourself from the competition in the same field.
For example, let's go back to the example from earlier: creating websites. Of course, there are already many companies doing this and specialising in this field, but it is important that they also offer something that makes them different from the rest. So with this middle layer of the Golden Circle model, you already specify the concept of your company a lot more. As a result, you get to know the market well and can also proudly tell your customers why they should choose you and not the competition.
Having trouble formulating your How? Monkey Vision is happy to think along with you when you let us create your website in London.
Marketing point 3: Why?
The Why is at the heart of the Golden Circle model and this is the most important point. Many companies go wrong here, because this is very difficult to determine if you haven't considered this before.
So when you look at the Why, it's about: why your company does what it does best. So here it is important not to think about revenue and financial matters. Instead, you think about why you do what you do, so you actually look for your company's raison d'être. If you can formulate this, the purpose of your company becomes clear. It is the reason for the company's existence and this is what makes you special.
If you know this, you can communicate better with clients and also learn the value of what you are doing. You learn to inspire other people and so it's really about your internal motivation: the reason why you commit to this company every day.
Many companies like to do business with companies that know well why they are doing something. It's something you believe in very strongly as a company. The Why, for example, may have to do with environmental beliefs or being able to contribute something to society. If you can articulate this well and believe in it, customers are more likely to want to do business with you.
This is how you can differentiate your company. This is important, yet very difficult for many companies. Many get stuck on this: they know what they do and how they do it, but they don't know the purpose and motivation behind it.
In short: find your drives with the Golden Circle!
When you have your own golden circle in place as a company, this is going to help you a lot. This article has discussed the golden circle consisting of What, How and Why. Below is a brief explanation of exactly what it entails:
- What: Many companies know what they are doing because this is the easiest thing to describe. So this is the product being sold or the service being offered.
- How: How you execute this and finding out what makes you special ensures that you learn to differentiate yourself in the market. This therefore puts you one step ahead of the competition that is in the market.
- Why: This is the purpose and reason for your company's existence. If you learn to tell this well and clearly, you can use it in many ways. This will take your company to the next level!
But we know: this is quite tricky. At Monkey Vision , we don't just make websites, we also think with companies about just this kind of thing! Need help getting your Golden Circle complete? Let us help you and feel free to get in touch! If you are going to put yourself out there anyway, check out Simon Sinek's book on the Golden Circle here.
