How do we recognize the right opportunities in life, or find ourselves at the right place at the right time? How do we meet the right people to do business with? How do we know who is our perfect partner, the one and only, forever and ever?
Well…if you know the answer to the last question, I am “all ears,” because I still have no clue.
Dr. Phil and I have nothing in common, because he KNOWS it ALL, and I…well, you get the idea. This is exactly why I am not writing about relationships, and prefer to talk about subjects I know rather well—social media and marketing.
Many people think that the principles of marketing (of any kind) consist of four main pillars, or some may refer to them as the 4 P’s—Product, Place, Promotion and Price. And for the longest time I believed that as well…just as I used to believe in the Tooth Fairy, Santa Claus and other imaginary friends. My quest for true marketing success began with the shocking discovery that one of the major “P’s” was missing—PLANNING!!
Every successful marketing campaign should start with PLANNING:
- What will your PRODUCT do on the market?
- What is the best location, or PLACE (distribution) of your product?
- How will you effectively PROMOTE it?
- What PRICE is your market willing to pay for your Product?
For people who are foreign to PLANNING, stop reading this and google “Planning for Dummies,” because only a delusional person believes “We’ll play it by ear” is a good working model for a business. The most impressive and successful marketing campaigns are products of rigorous planning and consistency.
Normally the PRODUCT ideas are not complicated. Almost everyone believes that whatever they’re about to offer is the “best thing since sliced bread.” Google is building self-driving (and soon to be self-flying) cars, Apple will soon be implanting phone chips directly into our brains (and fighting the FBI on their removal process), and God only knows what the Kardashian clan has in store: a fully clothed Kim Kardashian selfie (OMG) may shock the world soon. My only plea to the army of motivational, inspirational speakers and “best-selling” authors—whatever you sell, make sure you know at least ONE person who will actually buy it.
The PLACE/distribution allocation is not the biggest hurdle for businesses, either. If you are a local business and know your zip code, you can start planning your distribution chain by registering your business with Yelp and Google My Businesses apps. I hope that in the year 2016 I don’t have to explain to anyone how to create simple Facebook, Twitter, LinkedIn or Instagram pages for businesses. If you really want to feel social media savvy these days, get on Blab…just make sure you have something to say. And by “something” I mean something useful and valuable to OTHERS.
I am going to skip the PRICE discussion. The “art of marketing” is never about price. Your pricing strategy should be based on knowledge of your market, competitive analysis, and the value you deliver with your product. In my opinion, quality solutions that solve real problems for customers, empower them to be successful and profitable, or inspire them to excel, are worth much more than their “cost-effective” siblings. But it is always a good practice to have several tiers of packages—we, as consumers, love options. Some luxury brands, like Louis Vuitton, have only two tiers of pricing—there are the “one monthly mortgage payment” purses, and the “forget about it” luggage items…but when your brand becomes the Louis Vuitton of your market, price will be the least of your worries.
Now let’s discuss the Holy Grail of all marketers—THE RIGHT AUDIENCE (i.e. people who will actually be buying something, instead of just wasting your time) and how to effectively spam…oops, I meant “promote”…your product to them.
But before that…let me surprise you by saying that the first step of your PROMOTION starts with YOU and the creation of YOUR OWN PERFECT digital world, YOUR OWN BRAND, everything that you represent, whether it is your business, your company or yourself. You need to start BRANDING—or, as the marketers say, creating brand awareness—way before your big product launch. Make sure:
- Your website is up-to-date and easy to navigate.
- Your logo is included on your images and email signatures.
- Your mission statement and your message are clear—A Confused Customer Buys Nothing.
- You use quality images for your posts. I use Canva (a great graphic design tool).
- You are searchable on social media platforms. You won’t believe how many companies and businesses I’ve turned down because I couldn’t find them on Facebook or LinkedIn.
- You engage and inspire your followers with your content. Be the “Red Bull” of your business—make your customers feel like they can fly.
- Your digital representation is exactly what you say in your marketing campaign—business that changes the world or makes it better (even you sell mortgages *yawn* or insurance *double yawn*).
Your yearly marketing budget is around 5% of your sales revenue. Sounds like a big number?
The social media revolution won because the old “Mad Man” promotional advertisement model could not carry on anymore. It takes more planning and preparation than just three martinis at lunch.
My professional advice—hire a marketing analyst or a marketing agency to build that Perfect Digital World. They do it 24 hours a day, 7 days a week. They study other marketing experts. They go to conferences to learn different techniques and tools. They spend countless hours on Twitter, Periscope and Instagram. It is impossible for any business owner to have the time to do it THE RIGHT WAY. Marketing is storytelling. Let them write your story, the way you always wanted it to be told. Watch Andrew Stanton’s TEDTalk on Storytelling
To paraphrase Jim Rohn, my favorite sales coach of all time, I urge you to let go—
Let your lawyer be your lawyer, let your banker be your banker, and by all means, let your marketer be in charge of your marketing efforts.
If you still think that a so-called “cost-effective” paid advertisement on various social media platforms (like Facebook, Twitter and LinkedIn) or mass emailing software alone will sell your product, you are setting yourself up for a big disappointment.
Your Audience Optimization and Promotion tool suggestions are a part of your Marketing team’s job. The timeframe for growing your social media and digital exposure depends on the nature of your business. Statistically, it takes from 9 months to a year.
The moment you know that your own digital presence is the best it can be and your own house is in order is that perfect moment when your vision and your message are clear, your feet are firmly on the ground, and your brand is thriving.
How do you know that you are ready for your big push? You just do, because it feels right…just like that perfect kiss on Park Avenue under the neon lights of the glorious City that Never Sleeps.