I thought I would let you into my mind so that you can understand my views on marketing.
I strategize the way I develop my company.
What follows may be shocking because I don’t really look at marketing in the same traditional way as online reading.
Now, before I go deeper, let me give you some background information.
My company is NP Digital. This is a digital marketing agency, and we can help companies of all sizes grow and develop.
That’s where I concentrate on marketing… is where NP Digital develops.
Digital marketing will only take you far
Even if I am a marketer, I don’t believe that marketing alone can build a huge company or brand.
Just thinking like this, Number of people searching for the term “shoes” In the United States alone, there are approximately 1,220,000 per month.
But Nike sells more shoes every year than the United States, and it is not the only shoe company around.
People don’t always “search” for what they want.
When I buy shoes, I usually go directly to Nike because I am familiar with Nike’s brand and products. I think I have never searched for shoes on Google.
The same is true for ads. Yes, I have shown shoes ads on Facebook and Google, but they have never allowed me to buy shoes.
Now, this does not mean that marketing or SEO is ineffective. All of these can help you build a brand, which is the cause of most purchases.
You may not know this is an interesting statistic… 59% of people like to buy products from brands they are familiar with.
This is why there are more shoe sales in the world than searches. Estimated to buy 14.5 to 19 billion pairs of shoes each year, But online search doesn’t even account for 1/20 of that number.
When you look at the Nike brand, They generate more searches Instead of someone who only types in the word “shoes” every month.
It’s about 5:1… Everyone enters “shoes” in Google and 5 in “Nike”.
This is the power of building a brand.
Time solved all problems
Because you are here, you may be familiar with marketing or even an expert in marketing.
But let me ask you this question… Have you heard of the following brands?
- Wunderman Thompson
These are advertising agencies with thousands of employees. But even if we are familiar with marketing, most of us have never heard of them.
This does not mean that they do not have small brands, but that they have large brands in a specific audience.
The audience is their ideal customer.” If you are a large company that can spend $25,000,000 or more on marketing each year, then you may be familiar with these companies.
Therefore, the key is not just to build a big brand like Nike, but to build a big brand with the target audience.
Now, if your product or service is for everyone, like Nike, then of course you want to build something everyone knows.
You will also find that your brand will naturally grow over time.
Even though you may not have heard of the above-mentioned advertising agencies, their brands have grown into large enterprises because they have been in business for enough years.
Just like Nike.
Let’s break down the real meaning of time
I think it will be fun to share the power of some time with you.
As mentioned above, I focus on developing the company NP Digital. It is now in the fourth year of business.
This is not a long time in the grand scheme, but it is okay.
But when we started our business from the first year, it was cool, all our business was generated through SEO, content marketing and social media marketing.
These are the channels we use to generate sales.
Today, we still use these channels, but now 27% of our sales are generated through word of mouth, recommendation and brand awareness.
This percentage is not the maximum percentage, but imagine what will happen after you have been in business for 20 or even 10 years. This is a huge compound effect, Suppose you provide quality products or services.
Therefore, if you really want to increase your income, you just have to wait patiently and continue to do a good job, and of course do a good job in marketing, because this will start organic growth.
So, what is your plan Neil?
I have spent a lot of time on marketing, but I am working harder in a way you might not have guessed.
- More social media – Now, I am producing content for social media every day (there is no revolutionary content here, but it can make the brand play a bigger role).
- Maintain SEO – Even though I am very good at SEO, you can only rank for so many keywords. I have been doing this for a long time, mainly in maintenance mode.
- podcast – Have been doing this for years. The average monthly download is over one million. Since it has not been widely adopted, podcasts have not yet been actually put into use.
- Speak at the meeting -By the end of this year, I will be back to the podium. You can’t reach as many people through content marketing, but in a meeting, people spend hundreds or even thousands of dollars on a ticket, so they are the right audience.
But what else?
These marketing strategies are just standard strategies that we all know and use. I am now starting to pursue channels that we take for granted…
- TV advertisement – Within 30 days, I will place TV commercials on stock channels such as Bloomberg and CNBC. Many people who watch these channels are my ideal audience. This is unconventional. My competitors are not up to the task due to poor return on investment, but I believe that TV is one of the best channels for building large brands. In addition, it is not much more expensive than Facebook.
- Awards -we have already We have won many awards for our work. We will continue to apply for more. It has not yet promoted any business, but in the long run, I do think it is very useful for brand building.
- PR -We hired a public relations firm last month.They have me recently CNBC interview. It only attracted 7 visitors, but this is just the beginning. The ultimate goal is to get consistent interviews on TV.
- Research company -There is an old proverb in the business world: “You will not be fired for buying IBM.”In the marketing world, enter Forrest with Gartner Can produce a similar effect. It takes a long time to get in and costs a lot of money, but in the long run, you can get potential customers from large companies. When they turned to Forrester and Gartner to find out which marketing agency to hire.
As we grow, I will add more. At present, a lot of work has been done by adding only 4 new channels to the above-mentioned combination.
And compared to the digital channels I initially used, I bet that the newly added content will not bring a high conversion rate or even a return on investment.
But it’s okay. Our goal is to build a large business, and sometimes even if there is no return on investment, you must invest, because in the long run, you know that building a brand with an ideal audience will make a difference.
Most marketers I know focus on ROI. For every dollar they spend, they want to earn 2 or even 3.
I have a different view of things. I focus on building brand and reputation. Even if it cannot directly generate a return on investment, I believe it can help you become a leader in the industry.
Moreover, if you can become a leader, the final number will be calculated, but this is of course a gamble.
This is the same reason I entered Back to 2005 When others are unwilling. I believe that if you receive education and help others, you will eventually gain something. But in the first 8 years, I was in trouble and couldn’t show the rewards.
I have encountered the same situation when making videos on YouTube, Instagram, LinkedIn, Facebook and Twitter. But in the long run, I believe it will pay off.
The real question now is, are you willing to play long-term games and invest in places where others are unwilling?
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