The old way of marketing is dead.
We have all heard this before. It's the one liner ever marketer seems to use when they want you to purchase their new service or product. Unfortunately, when everyone tells you 'the old way of marketing is dead and you got to do their way', it kind of gets confusing. Life is made to be simple, so let us make it simple.
The following three points are the key things you need to know when developing your marketing strategy. It is not the secret sauce to making your business the millions you may be seeking however, it is the sauce that will give you the best chance of making it happen.
1. It's no longer about continuous self-promotion... but adding real value:
In an age where people have the attention span of a goldfish as Microsoft found in their study. You will be surprised to find that majority of the money you spent on your marketing has been a total waste unless your marketing strategy includes tactics that provide real value to your customers. This means that rather than continually trying to sell your products and services, its all about enhancing your customers' experiences by doing things that matter to them. It is a simple concept that has helped some of the world's fastest growing companies like Zappos turbocharge their growth. Examples include providing free resources, tools or even a simple thank you message to make their experience with you just that extra bit special.
2. Stop shouting about you... build a two-way communication relationship:
People buy from people they like. I have also never heard of anyone saying they liked someone cause they just talked about themselves. As humans, we love to be listened to and feel special. It's the trigger that allows us to feel connected. The irony is at a logical level, we may all know this. The bad news is as emotional creatures, our decisions are often based towards our emotions in contrast to our logical thinking. The implications this has for many business owners is that many businesses will opt in for the easy way of doing things than focusing on getting the best ROI for their resources. In short this means that business will often choose to spend five times more on average to market themselves rather than attract new clients through building two-way communication relationships with their community. Example include using social media to build a relationship with your target market rather than continually trying to sell your products and services.
3. Characteristics of a marketer have changed from creatives into data-driven scientific creatives:
Yes you read that right. Marketing is no longer just about what looks good. Marketing has now transformed into a data-driven process focused on achieving results. The implications of this as a business is that you now able to make more informed and accurate decisions in your marketing to get the maximum ROI for your money. Examples include data mining, data visualization, CRM, marketing automation and growth hacking.
In short many business and marketers are soon realising the power of a creating a marketing strategy based on building a two-way communication relationship and adding value to its customers via data-driven marketing technologies. These are exciting times for both marketers and customers as they work together to enhance their customers lives.