Hureka Top 10
It’s Learn from Legends Week at Hureka Technologies
Digital Marketing Strategy
According to Jay Abraham, there are only three ways to grow any business. Most people, including me, think that increasing business is a complex giant burden of thousands of possible tactics that one can try but Jay Abraham takes the complex and makes it simple. Focusing on only three business-building categories throughout our business lives doesn’t seem so bad right?
Marketing strategy is first about finding your difference, then finding the best way to get your differentiating idea into the minds of your prospects and customers. The explosion of choice for the consumer is the direct result of the explosion of competition. Finding your difference is an absolute must for survival. Positioning pioneer Jack Trout wrote many books, completed positioning assignments with hundreds of brands and delivered many lectures. Based on his vast experience, he whittled his thinking down to seven key marketing strategies, which he called the “Abouts.”
Data - The Success Factor
Let’s face it: there is a strong correlation between content, conversion, social and customer value. The most obvious thing is that social media have shown the content gap that companies have neglected for so long. An important effect of social media is that people now create content themselves. Consumers create content for two reasons: 1) The company failed to adequately answer the questions they have. 2) Consumers are excited (positively or negatively) about the company’s offering.
Nobody knows the future. I don’t know how we will look back on this. But I do know this. It’s not likely this will be the last time of crisis in America. So as a function of framing, most business owners that I’m in contact with nationally and internationally are all thinking the same thoughts, having the same fears. And they have the same irrational hopes. They’re asking “What can we do? What can we do to give people confidence? That it’s okay to come into the store…” And they’re panicked about making payroll. And they’re deeply distressed about their ability to hang on until the economy begins to bring some money into the company. And every one of these people wants to keep people on the payroll and keep them paid. But there is a financial limit to how long they can do that with no income.
Digital Marketing Execution
Although “Ogilvy on Advertisement” was written in 1983, (yeah, I know, sounds almost prehistoric and so without the internet!) Don’t think even for a second that all that he introduced to the world of advertising is no longer being used today. His lessons are timeless in marketing, including the new challenges of the era of Social Media.
Not long ago, Seth Godin threw shade on Data Analytics in Marketing by stating “Perhaps you could just make something awesome instead“. Seth is one of the most respected Marketing Minds in America, and this is how he put it then: “Mass marketers love the promise of big data, because it whispers the opportunity of once again making average stuff for average people, of sifting through all the weird to end up with that juicy audience that’s just waiting to buy what they’ve made. Big data is targeting taken to the highest level of granularity. It grabs your behavior across web sites, across loyalty cards, who knows, across your phone records… the promise of all this grabbing is that marketers will be able to find precisely the right person to reach at the right moment with the right offer.
Would you like to make $5,000,000 per year? Because Claude Hopkins did. And whether you know a lot about Claude Hopkins or not, you probably use many of the strategies he pioneered. He was born in 1866 and is one of the fathers of modern advertising. He had a strong philosophy about advertising which was that the ultimate goal is to sell the product, measure results, and justify campaigns by performance. Claude Hopkins worked for many agencies like Lord & Thomas and Swift & Company. According to David Ogilvy, Claude was hired by Albert Lasker to work for Lord & Thomas in 1907 for a starting salary of $185,000. That’s approximately $5,000,000 with inflation! Imagine making five million per year writing advertisements. That could be you.
There are two kinds of brands, existing brands and new brands. Almost every company in the world tries to cope with change by modifying what their existing brands stand for. Does that work? No, it does not. Sony was once one of the world’s best-loved brands. Some years ago, a number of surveys rated Sony as the No.1 consumer brand in both America and Asia. But not today. In the past 10 years, Sony had $759.3 billion in revenues, yet lost $5.5 billion. Compare Sony with Apple. Ten years ago, Sony had revenues of $89.1 billion, more than three times the $24.0 billion revenues of Apple. Today, Apple has almost three times the revenues of Sony. $229.2 billion versus $76.9 billion for Sony. On the stock market, Apple is the world’s most valuable company, worth $940 billion, more than 14 times as much as Sony, worth $63 billion. What’s the difference? The iPhone, a new brand.
Think of a brand as reputation. We each own one, like it or not. So yes, you should you think about your reputation. You represent a version of FedEx and H&R Block; you offer services to others, such as to your employers. Your prospects–clients or employers–choose you based on your reputation. If its for performing well, your prospects will assume that you will perform well again. Not long ago, “word got around.” With text, email, blogs, and other vehicles, word now travels much faster and farther. Millions in Indonesia could know about you tomorrow, for example, given the right YouTube video. The word that now gets around fast includes words about you. So your brand lives, in part, on the internet. If you’ve earned several thousand Twitter followers, for example, that suggests something. If there’s nothing out there about you, that suggests something, too.
I touched on why it’s a bad idea to try third-party lead-aggregation services like HomeAdvisor and CraftJack. In a nutshell, here’s why most contractors can’t stand these kinds of companies - Too Much Competition. The HomeAdvisors and CraftJacks of the world sell the same leads to 3 to 20 other contractors. The unsuspecting homeowner who uses these sites will get incessant calls and dozens of emails… and they’ll regret the moment they ever clicked “Submit” on that online lead form. You’ve got better things to do with your life than try out-elbow 17 other companies for a single lead (one that is likely to be highly irritated by the time you talk to them).
|Let's Talk About Your Business|