Dan Galante

Seth Godin’s new book This is Marketing sums up the lessons of his previous books.

In the past Marketing was Advertising. Many Brands and businesses used to buy ads to interrupt prospects in the hope that people would buy. However, with so many media channels, the advertising of yesterday has lost its effect.

What this means for Marketers is that they need to build trust, engagement, community and earn permission to contact prospects and customers. With the ever-increasing privacy legislation such as GDPR, Marketers will pay a high price for SPAM.

Also, today there are many micro-markets of products and services as opposed to one mass-market. Frequency has surpassed reach in terms of effectiveness. Marketers need to tell a compelling story that resonates with the people they seek to serve.

Marketers need to improve their knowledge of customers to enhance the customer experience and engagement. Brands need to have conversations with customers as opposed to talking at them.

Ideas that jumped out at me while reading and listening to the book

Seth dissects Marketing, showing the reader that today’s successful marketer is generous and gives value to the customer as opposed to stealing their attention.

Chapter 19, the chapter on funnels is very interesting because it shows how to look at the funnel in a new way.

Seth explains how to shorten the sales cycle by making it easier for prospects to engage and purchase a product.

He demonstrates how to do funnel math to see if and when marketers should advertise using paid ads along with how to know if ads will pay for themselves.

In this chapter, Seth shows how marketers should focus on serving micro-markets as opposed to the mass market.

This idea is illustrated in Jeff Moore’s book Crossing the Chasm. Seth takes this concept, and explains how to move a product from micro-markets to the mass market but surprises the reader by demonstrating that marketers can be successful by catering to a micro-market.

Seth illustrates this in the long tail concept where he shows that hits are exceptions to the rule. Instead he shows that selling a lot of different products to different people is the way that most marketers will find success today and in the future.

What is next in Marketing? Comment and share.

Bonus Content

I have had the pleasure of meeting Seth on two occasions. Here are videos and pictures of the talks.

https://dangalante.me/2018/10/06/8-takeaways-from-advertising-week-2018/

https://dangalante.me/2018/11/20/key-insights-from-the-world-business-forum/

If I was going to launch a bunch of new product features and I was tasked with developing a social media marketing campaign to market these features to existing customers and generate new leads.

What questions might I have when starting to plan the campaign?

I would ask:

Which channels do customers use when making purchasing decisions?

I would work with the Product Team during beta testing to interview customers to gather feedback on the new features; taking the information to develop blogs and other related messaging. I would also ask customers to provide testimonials about the new features and include them in social media campaigns.

Also, I would survey customers about their learning style and which content format they prefer i.e. videos, blogs, etc. Based on the data from the survey, I would decide which channels I would use along with the type of content to develop.

With what I learned, what might my campaign look like?

The campaign would revolve around a series of Social posts based on customer feedback Including Customer Testimonials obtained from the beta testing and videos of customers using the product. I would build anticipation online using videos to announce the new features. I would have a contest online where users would need to submit an email address.

Which social platforms would I use?

I would use a blog, Email, LinkedIn, Slideshare Twitter, Facebook, Instagram, and YouTube platforms to educate customers about new offerings.

Are there any emerging social strategies I would want to try?

I would like to attend industry events where I could interview experts in the space. I would want to create a group to reward loyal customers and develop an evangelist program where customers would tell their friends.

How have you marketed new product features to current and prospective customers?

Feel free to comment and share.

Free or Low-Cost Trials

When creating a new offering, I would offer a free or low-cost trial of your product to the end-users and industry experts. Consumers look for social proof before they buy a product. Now if the product is new, none exists. To lower buyer resistance, you need to make it low risk and feel safe.

In addition to market research and product testing; the free or low-cost trial is a great way to build trust and get feedback. Surveys can be created to ask potential customers about their experience.

If your product helps to solve a customer’s problem they will be more than happy to share it with others; converting to paying users! The product will earn testimonials and endorsements. Testimonials and endorsements will address product reliability creating: loyalty, brand recognition, and Sales for your product.

Loss Leaders

In place of a free or low-cost trial, a loss leader can be an option. A loss leader is when you offer a product at a loss or break-even point to gain business in the future. Supermarkets do this all of the time when a new product is rolled out.

Another place I saw loss leaders was when I was in Field Sales. I was selling Dental equipment at the time. Certain customers were loyal to certain types of equipment. When I ask why they stated that these were the tools that they had used in school. When I called on Dental schools and Hospitals, I found they were locked up with large contacts. My larger competitors sold the equipment at cost practically giving it away. Why would they do this? My competitors were creating life-long customers who were trained on certain tools and refused to switch.

Connection, trust, and advocacy are essential for customer acquisition. It is your job as a brand to turn your customer base into evangelists.

The decision on developing and implementing offering free, low-cost trials and/or loss leaders will be different for each product.

Free, low-cost trials and loss leaders help to Increase Sales and Customer Loyalty.

How have you used free, low-cost trials and loss leaders to create Sales and Customer Loyalty?

Comment and share.