"This is Marketing" author's fresh ideas for marketing
“Marketing is one of our greatest callings. It’s the work of positive change.” – Seth Godin
Trust is key in 2019
More people are connected, and fewer are trusted. So says Seth Godin in his new book, This is Marketing.
The popular blogger, bestselling author, and entrepreneur says that however endangered trust may be, marketers find themselves on one of three paths:
He says that if you’re ignored, you can’t accomplish much, because in addition to not earning trust, you haven’t earned attention either.
If you’re sneaking around pretending to be one thing and doing another, you may be able to steal some temporary attention but it won’t last.
But, being trusted is the one that pays for the investment required. A trusted marketer can make a promise and keep it, which earns trust. He says that a trusted marketer can tell a story, uninterrupted, because with trust, comes attention.
Action is key in 2019
He also says that the best way to earn trust is through action.
“We remember what you did, long after we forget what you said,” he writes.
When we asked for a refund for a defective product, what did you do?
When you lost our data, what did you do?
When you had to close the plant and our jobs were on the line, what did you do?
Godin says marketers spend a lot of time talking, and on working on what we’re going to say, but they need to spend far more time doing.
And, doing when nobody is watching, one person at a time, day by day.
To fix the marketing funnel, where customers pour out of the bottom, you need to ensure you plug any leaks on the way through:
Make sure the right people are attracted to it in the first place;
Make sure the promise that brought them in aligns with where you hope they will go;
You can remove steps so that fewer decisions are required;
You can support those you’re engaging with, reinforcing their dreams and calming their fears;
You can use tension to create forward motion;
You can hand those who’ve successfully engaged in the funnel with a megaphone, a tool they use to tell others in their network.
Lifetime value of customer is key in 2019
If you are careful and alert, Seth Godin says, you can begin to understand what putting attention into the top of the funnel costs you, and you can work to improve not only the quality of your leads, but the efficiency of the process.
Consider focusing on what steps to shift or eliminate;
Explore what happens if people engage in your ideas or your community before you ask them to send you money;
Build new things for your customer instead of trying to find new customers.
The most important thing is to figure out the lifetime value of a customer. If a supermarket customer is a regular shopper and shops weekly at the same place for five years, it could mean $50,000 or more in sales. They probably will tell their friends and neighbours to shop there too.
It means the supermarket would be eager to sponsor events in town to attract new customers;
It means it would quickly apologise and give a refund to a customer who’s upset about a $4 melon not being ripe;
It also means the first 1000 customers are practically priceless.
Seth Godin says brands grow because users evangelize them to their friends. They grow because they are living entities, offering ever more value to the communities they serve. They grow because they find tribes that coalesce around the cultural change they’re able to produce.
People like us do things like this.
To be seen in 2019, marketers must do as their first job: “define us”. The more specific, the more connected, the tighter the “us” the better.
Members of The Growth Faculty can participate in our exclusive livestream webinar with This is Marketing author Seth Godin on Friday, March 22,2019, at 8.30 a.m. Send your questions via The Growth Faculty Facebook, Twitter or Instagram, or email them to firstname.lastname@example.org.
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