Peter Drucker, management guru, said: "Business has two functions – marketing and innovation."
Let's talk about marketing. We'll start by defining a few words:
"Branding" is positioning yourself in the prospect's mind.
"Marketing" is all the activities executed to get and keep customers.
"Advertising" is creating and maintaining awareness as well as retaining customers and promotions for lead generation to create new customers.
The Overmarketed Consumer – Information Overload
Studies show that the average consumer is exposed to up to 10,000 brand messages a day (TV, radio, digital, newspaper, magazine), with 50% of them being advertisements, and switches between computer, tablet, phone, and television screens 21 times an hour with an attention span of just 8 seconds (about the same as a goldfish).
According to Media Dynamics, Inc. (MDI) in 1945, a typical adult devoted only five hours a day to radio, magazines and/or newspapers. Today, with TV and digital media in the mix, that figure has more than doubled, rising to 10.6 hours a day, and 1.84 of those hours are spent being exposed to brand messages and advertisements.
It's no wonder many people suffer from what we call "shiny object," "squirrel," or "butterfly" syndromes, where the littlest thing becomes an attention-robbing distraction.
If we take a conservative estimate and say on average a person is exposed to 5,000+ advertisements and brand messages per day, we can apply MDI's study findings to extrapolate the idea that only a small fraction of the messages break through:
- Average number of "ads only" seen/heard per day: 362
- Average number of "ads only" noted per day: 153
- Average number of "ads only" that we have some awareness of per day: 86
- Average number of "ads only" that made an impression (engagement): 12
Fifteen years ago, it took 4 exposures to affect a purchase, and today it takes 16 exposures.
Engagement is the Holy Grail of marketing and advertising.
If you say the same thing as everyone else, you've said nothing at all
How is a company supposed to gets its marketing message to cut through the clutter and be seen, heard, make an impression, generate engagement and get someone to act?
Your advertising and marketing MUST rise above the fray to get noticed and more importantly be remembered and most importantly get responded to.
How can you make this happen – GUARANTEED?
The answer is quite simple and will cost you no more money than you are already spending, and probably let you spend less money or spend more effectively in the long run.
Robert Stephens, founder of Geek Squad said: "Advertising is the tax you pay for being unremarkable." STOP MARKETING AND BE REMARKABLE! Stand out… don't fit in. Simple and obvious is good.
Does your marketing create buzz in the marketplace?
David Meerman Scott, marketing guru, said: "How people do business has changed. How companies market has not."
Effectiveness of marketing on people in the market to buy a product:
- 1% responded to a cold call from a telemarketer or salesperson
- 2% responded to direct mail
- 15% responded to seeing mainstream media ad reply
- 100% clicked a search engine ad
- 95% bused social media, social proof, email, text, site form to inquire about a product
Most companies target the top 3 media and don't do digital well.
Align your marketing with the way people buy. Share information with people so they can make an informed and intelligent decision that they feel good about. It's not what a customer spends that determines their happiness with the company, product, and buying and ownership experience, but rather how they FEEL about what they spend. Sharing is more than selling.
Your online marketing should be constructed as follows: 85% share and engage (industry opinions, tools, engage conversations and connections); 10% original content (blogs, articles, videos, podcasts); and 5% promotion (chat about yourself, your company, your life and your thoughts). You are what you publish, so publish great content. You're great! Content is your link between you and your buyer's persona.
Companies need to realize that the sales cycle is NOW the buying cycle, and consumer control the timing. They are not wanting to hear the same story a company tells everyone about how great their company is and how their products and services are the right solution for everyone. They want to share their story and have a company representative tell them the story they want to hear that is customized around their lives. Don't sell. Let people buy.
In sales, the person that loves the product ends up owning the product. Fall in love with your customers and the process, not your product. Nobody cares about your product except you. People care about their problems.
People have emotional buying triggers that, when tapped, get them to act. Here are a few triggers for discussion in a future article -- avoidance or removal of pain; desire for gain; fear of loss or danger; comfort and convenience; security and protection; satisfaction or emotion that they made the right buying decision; vanity/pride/status/respect/arrogance/ego; humility; anger; guilt; greed; exclusivity/rare/limited; anxiety; salvation; peace of mind/assurance; innocence; generosity; inclusive/common/boundless; calmness; ruination/deterioration; saving time and money; making more money; looking more attractive; learning new skills; living longer; being more comfortable/healthy/safe/efficient/green.
People don't want the things you sell. They don't want the features and benefits. They want their problems solved. They want something different, better, more, and unique. They want the life impact the product provides and a new life experience they didn't enjoy previously. This is what they buy. They happen to get the things.
Peter Drucker said: "The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself."
Marketing and advertising doesn't just offer the right product to the right consumer at the right time. It gets the prospect emotionally motivated to investigate and ultimately to buy the advertised product or service. That's why engagement has become so important.