Latest / Earn Your Leisure / Mastering Marketing Strategies

Transcript

Mastering Marketing Strategies · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J.
• 0:20
  Speaker 2: Trump's leadership.
• 0:21
  Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
• 0:25
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 0:29
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
• 0:33
  Speaker 1: aliens have been arrested. If you are here illegally, your
• 0:37
  Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,
• 0:41
  Speaker 1: and deported.
• 0:42
  Speaker 2: You will never return.
• 0:44
  Speaker 1: But if you register using our CBP home app and
• 0:47
  Speaker 1: leave now, you could be allowed to return legally.
• 0:50
  Speaker 2: Do what's right. Leave now.
• 0:53
  Speaker 1: Under President Trump, America's laws, border and families will be protected.
• 0:57
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 4: What does the CMO actually do. There's a Chief Marketing Office.
• 1:03
  Speaker 5: Chief Marketing Office, So what's the role of So that's
• 1:06
  Speaker 5: a great question because so many people are cmos and right,
• 1:10
  Speaker 5: so a CMO is actually the head leadership of the
• 1:16
  Speaker 5: strategic rollout of the actual brand. So internally and externally,
• 1:24
  Speaker 5: the CMO works with communications, for instance, to understand what
• 1:29
  Speaker 5: is our mission and purpose of the company, and how
• 1:32
  Speaker 5: are we executing that mission and purpose internally and externally.
• 1:37
  Speaker 5: So how are we educating and informing our employees, our investors,
• 1:43
  Speaker 5: our stakeholders, are all of those communications in line with
• 1:47
  Speaker 5: what we say we stand for and what we say
• 1:48
  Speaker 5: we believe in. And then to that end, we are
• 1:51
  Speaker 5: responsible for generating x amount of revenue with consumer base,
• 1:55
  Speaker 5: So how are we messaging to our target consumer in
• 1:58
  Speaker 5: a way that speaks to our mission and our purpose
• 2:02
  Speaker 5: and keeping all of keeping track of all of that
• 2:04
  Speaker 5: constantly and making sure that's a well oiled machine for
• 2:07
  Speaker 5: as little money as possible.
• 2:09
  Speaker 6: That was gonna be my next thing. It was that
• 2:11
  Speaker 6: there's a budget that you're given and so talk about
• 2:15
  Speaker 6: that part like you're doing the most with sometimes less
• 2:19
  Speaker 6: the least.
• 2:20
  Speaker 5: Yes, yeah, you're making magic happen. So there's there's three
• 2:24
  Speaker 5: types of impressions. There are owned impressions, which is earn
• 2:29
  Speaker 5: your leisure. You guys own your impressions, right there are
• 2:33
  Speaker 5: earned impressions, which is publicity pr or, as Puff would
• 2:39
  Speaker 5: always say, guilt by association. And then there's paid impressions,
• 2:42
  Speaker 5: and that's where you're spending money for media dollars. Right,
• 2:45
  Speaker 5: So there's three ways of generating.
• 2:49
  Speaker 2: Owned.
• 2:51
  Speaker 5: Owned impressions are your own impressions, So however many followers
• 2:54
  Speaker 5: you have on social media, however many followers you have
• 2:56
  Speaker 5: on YouTube coming to earn your leisure to view, you know,
• 3:00
  Speaker 5: view your content.
• 3:01
  Speaker 7: Those are your impressions you own that organic reach, organic reach.
• 3:05
  Speaker 4: And then what's the second one?
• 3:06
  Speaker 2: Earned?
• 3:07
  Speaker 7: What's earned media impressions.
• 3:10
  Speaker 5: Are press are somebody writes an article, somebody writes an article,
• 3:14
  Speaker 5: podcast going, you go on someone else's podcast, so I
• 3:17
  Speaker 5: repost your content, or I invite you to participate in
• 3:22
  Speaker 5: an event or part of co branded partnership, and then
• 3:25
  Speaker 5: you generate impressions based on that, so you go on
• 3:27
  Speaker 5: Good Morning America tomorrow. Those are all earned media impressions.
• 3:31
  Speaker 5: And then one and the third ones are paid and
• 3:33
  Speaker 5: that's all advertising. So that's sponsorship, that's media advertising, billboards, commercials,
• 3:39
  Speaker 5: that's yes, above the line advertising. So print, out of home,
• 3:44
  Speaker 5: radio and digital are the four out of home excuse me,
• 3:48
  Speaker 5: above the line pay media, and then there's below the
• 3:51
  Speaker 5: line paid media, so you could pay influencers, you could
• 3:55
  Speaker 5: pay for pot product placement, you could pay for branded
• 3:59
  Speaker 5: entertainment strategy. It's all sorts of below tolign things you
• 4:01
  Speaker 5: could do to pay for awareness and connectivity.
• 4:05
  Speaker 6: And you've seen that shift, right because as from when
• 4:09
  Speaker 6: you started, print was a thing. Yes, not so much
• 4:12
  Speaker 6: a thing anymore, right, More money needs to go into digital.
• 4:15
  Speaker 6: How have you navigated that?
• 4:17
  Speaker 5: You know, it's been it's been great because one of
• 4:19
  Speaker 5: the things that we did early on at Blue Flame
• 4:22
  Speaker 5: and why we were so successful but it wasn't uphill
• 4:25
  Speaker 5: battle back then, is we were a below the line agency,
• 4:29
  Speaker 5: so we hyper focused on influencer connectivity. We hyper focused
• 4:34
  Speaker 5: on social media and digital media, which at the time
• 4:38
  Speaker 5: people were buying Super Bowl commercials and then that was it.
• 4:42
  Speaker 5: We're going to spend two million dollars on a Super
• 4:44
  Speaker 5: Bowl commercial, Yeah, we did it. Whereas us, we wanted
• 4:47
  Speaker 5: to actually take over Twitter and have you know, the
• 4:51
  Speaker 5: best handles for our brands and connect at a very
• 4:54
  Speaker 5: organic level, and people just weren't using those strategies back then.
• 4:58
  Speaker 5: So we had tremendous success in disrupting disrupting in the
• 5:03
  Speaker 5: category and in culture, and being an expert at that
• 5:06
  Speaker 5: obviously fifteen years later is really interesting to see.
• 5:09
  Speaker 4: So okay, let's talk about these different types of strategies. So,
• 5:14
  Speaker 4: because I have like a unofficial doctorate degree in marketing,
• 5:19
  Speaker 4: that's right, So I have theories on this, but I
• 5:23
  Speaker 4: think that the organic way is probably like ten times
• 5:28
  Speaker 4: more effective than paid marketing.
• 5:30
  Speaker 7: Right, absolutely more expensive. I mean it's less expensive.
• 5:33
  Speaker 4: It's expensive, and it's more effective as far as I
• 5:37
  Speaker 4: was always taught, like you have to run, Like I
• 5:40
  Speaker 4: don't know exact numbers, but let's say like five paid
• 5:43
  Speaker 4: ads to convert one person with organic, it might just
• 5:47
  Speaker 4: be two times somebody actually sees you and then they'll
• 5:50
  Speaker 4: just start to follow you all those like that's what
• 5:52
  Speaker 4: we've done. We've never paid for any marketing. It's all
• 5:54
  Speaker 4: been through word of mouth. Yes, it moves a lot
• 5:56
  Speaker 4: faster and it's a lot more trustworthy than just seeing
• 6:00
  Speaker 4: constant ads. So, if you were advising a client, how.
• 6:06
  Speaker 3: Would you.
• 6:08
  Speaker 4: Advocate for them to grow their business effectively in today's world?
• 6:12
  Speaker 4: With dividing those three different things that you just said, Like,
• 6:16
  Speaker 4: what's the strategy for a small business or just any
• 6:19
  Speaker 4: size business that's looking to grow their marketing campaign.
• 6:23
  Speaker 6: You know.
• 6:24
  Speaker 5: So that's a really good question, and it's hard to
• 6:26
  Speaker 5: kind of sum it up in a nutshell because I
• 6:28
  Speaker 5: think it does depend on nuance because you're right, it
• 6:32
  Speaker 5: is better, meaning the stickiness around your connection with your
• 6:36
  Speaker 5: consumer is better organically. But if your goal is to
• 6:40
  Speaker 5: create awareness, right, because there's awareness and then there's affinity.
• 6:44
  Speaker 5: So awareness is people being familiar with your brand.
• 6:50
  Speaker 6: Ernest what's up? You ever walk into a small business
• 6:52
  Speaker 6: and everything just works, like the checkout is fast, or
• 6:56
  Speaker 6: seats of digital tipping is a breeze and you're out
• 6:59
  Speaker 6: the door before the line even builds odds are they're
• 7:03
  Speaker 6: using Square. We love supporting businesses that run on Square
• 7:06
  Speaker 6: because it just feels seamless. Whether it's a local coffee shop,
• 7:10
  Speaker 6: a vendor at a pop up market, or even one of.
• 7:12
  Speaker 3: Our merch partners.
• 7:14
  Speaker 6: Square makes it easy for them to take payments, manage inventory,
• 7:17
  Speaker 6: and run their business with confidence, all from one simple system.
• 7:22
  Speaker 6: If you're a business owner or even just thinking about
• 7:24
  Speaker 6: launching something soon, Square is hands down one of the
• 7:28
  Speaker 6: best tools out there to help you start, run and grow.
• 7:31
  Speaker 6: It's not just about payments. It's about giving you time
• 7:34
  Speaker 6: back so you can focus on what matters most ready.
• 7:37
  Speaker 6: To see how Square can transform your business, visit Square
• 7:41
  Speaker 6: dot com backslash go backslash eyl to learn more that
• 7:46
  Speaker 6: Square dot Com backslash, go backslash eyl. Don't wait, don't hesitate.
• 7:51
  Speaker 6: Let's Square handle the back end so you can keep
• 7:54
  Speaker 6: pushing your vision forward. This episode has brought to you
• 8:00
  Speaker 6: by P and C Bank. A lot of people think
• 8:02
  Speaker 6: podcasts about work are boring, and sure, they definitely can be,
• 8:06
  Speaker 6: but understanding a professionals routine shows us how they achieve
• 8:10
  Speaker 6: their success little by little, day after day. It's like
• 8:14
  Speaker 6: banking with P and C Bank. It might seem boring
• 8:17
  Speaker 6: to save, plan and make calculated decisions with your bank,
• 8:20
  Speaker 6: but keeping your money boring is what helps you live
• 8:23
  Speaker 6: a more happily fulfilled life. P and C Bank Brilliantly
• 8:27
  Speaker 6: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty
• 8:31
  Speaker 6: five is a service mark of the PNC Financial Service Group, Inc.
• 8:35
  Speaker 6: P and C Bank National Association Member FDIC.
• 8:40
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 8:44
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 8:48
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 8:52
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 8:56
  Speaker 1: some of the heinous migrant criminals caught because of President
• 9:00
  Speaker 1: Donald J.
• 9:00
  Speaker 2: Trump's leadership.
• 9:02
  Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.
• 9:06
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 9:09
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
• 9:13
  Speaker 1: aliens have been arrested. If you are here illegally, your
• 9:17
  Speaker 1: next you will be fine nearly one thousand dollars a day,
• 9:21
  Speaker 1: imprisoned and deported, you will never return. But if you
• 9:25
  Speaker 1: register using our CBP home app and leave now, you
• 9:29
  Speaker 1: could be allowed to return legally.
• 9:31
  Speaker 2: Do what's right. Leave now.
• 9:33
  Speaker 1: Under President Trump America's laws, border and families will.
• 9:37
  Speaker 3: Be protected sponsored by the United States Department of Homeland Security.
• 9:40
  Speaker 5: If I say Earn your Leisure in Bangladesh, do they
• 9:44
  Speaker 5: know where Earn your Leisure is?
• 9:46
  Speaker 7: Right?
• 9:46
  Speaker 5: That's awareness, right, like they know who puff Daddy is
• 9:48
  Speaker 5: in Bangladesh, right. But affinity means they watch the Earn
• 9:54
  Speaker 5: Your Leisure podcast, They come to the you know, to
• 9:56
  Speaker 5: the conferences, they know you by name and today that connectivity.
• 10:01
  Speaker 5: So sometimes organic works best because you're trying to ultimately
• 10:04
  Speaker 5: get to affinity. But if you are trying to quickly
• 10:07
  Speaker 5: build awareness around your brand.
• 10:09
  Speaker 7: Paid media can be effective.
• 10:11
  Speaker 5: Case in point, people that have e commerce companies nowadays
• 10:17
  Speaker 5: buy social media ads for conversion. Right they want to
• 10:21
  Speaker 5: sell their product, they run ig ads. The more ads
• 10:24
  Speaker 5: they run, the more eyeballs they see, the more people convert.
• 10:27
  Speaker 5: And they can do that very quickly because they have
• 10:28
  Speaker 5: a transactional commodity. They're selling makeup right or water, whereas
• 10:34
  Speaker 5: you guys are building an intellectual property. So it's more
• 10:38
  Speaker 5: important for you to build organic connection because people need
• 10:42
  Speaker 5: to think to understand why you're valuable. They don't need
• 10:46
  Speaker 5: to do they need to think. So it's a different
• 10:49
  Speaker 5: there's a different modality there. So it really does depend
• 10:51
  Speaker 5: on what your brand is trying to achieve. But the
• 10:55
  Speaker 5: quick answer is you spend the biggest amount of your
• 11:00
  Speaker 5: time on earned media.
• 11:05
  Speaker 7: Earned media because people trust.
• 11:11
  Speaker 5: Recommendation, so there's a trusted brand and earn your leisure
• 11:16
  Speaker 5: and if Ian says go by Apple, which is what
• 11:20
  Speaker 5: he always seems to say, you see, I watch your podcasts,
• 11:26
  Speaker 5: market Mondays Ian says, go by Apple. People are gonna
• 11:29
  Speaker 5: trust you, guys, and potentially at least go research Apple. Right,
• 11:33
  Speaker 5: So there's an earned that's an earned media impression for
• 11:37
  Speaker 5: Apple every single time.
• 11:39
  Speaker 7: Ian says that you see the value.
• 11:41
  Speaker 5: So if you go to earned first, you're gonna not
• 11:45
  Speaker 5: only get the association with whatever brand value that thing has,
• 11:50
  Speaker 5: You're gonna be introduced to expanded audiences. It's going to
• 11:53
  Speaker 5: create all these other tentacles for your brand that will
• 11:56
  Speaker 5: automatically get you owned media impressions. Those are gonna come
• 12:00
  Speaker 5: because you convert people that way, and then you continue
• 12:03
  Speaker 5: to connect with your own media community and once you
• 12:05
  Speaker 5: start building up money, you make investment and paid and
• 12:08
  Speaker 5: it becomes this nice ecosystem that works for your brand.
• 12:13
  Speaker 4: So in marketing, they say cults become culture, meaning it's
• 12:20
  Speaker 4: more efficient to just focus on a small group of
• 12:23
  Speaker 4: people and have them be evangelist for you as opposed
• 12:29
  Speaker 4: to just trying to spread yourself too things because eventually
• 12:32
  Speaker 4: those small group of people will grow osmosis and will
• 12:36
  Speaker 4: become culture. Right, It's like the Twelve Disciples, right, Like,
• 12:40
  Speaker 4: eventually this becomes two billion Christians around the world. What's
• 12:45
  Speaker 4: your thoughts on that, because that's something that a lot
• 12:47
  Speaker 4: of people don't really do effectively either, Like they come
• 12:50
  Speaker 4: out the gate and.
• 12:51
  Speaker 7: Just try to just be all things to old people as.
• 12:54
  Speaker 4: Opposed to really honing in and building a very small,
• 12:58
  Speaker 4: tight knit community and then.
• 12:59
  Speaker 7: Kind of just like that one percent.
• 13:01
  Speaker 5: I am always about vertical versus horizontal strategy. So it's
• 13:06
  Speaker 5: like zero in on who your core audience is and
• 13:10
  Speaker 5: hyper hyper penetrate that audience, So get them in every
• 13:15
  Speaker 5: place that they are passionate. So if your audience works
• 13:20
  Speaker 5: nine to five, you probably should be targeting them from
• 13:24
  Speaker 5: six to ten, you know what I mean. But if
• 13:26
  Speaker 5: your audience is, if your audience as creative, if you
• 13:31
  Speaker 5: have to figure out where those key touch points are
• 13:33
  Speaker 5: for them and hyper focus on those areas because you
• 13:36
  Speaker 5: want to get them when their mindset is in the
• 13:39
  Speaker 5: thing that they are passionate about. So it's not necessarily
• 13:43
  Speaker 5: just getting them, it's connecting with them in emotional moments
• 13:46
  Speaker 5: that makes sense for them so that they remember you.
• 13:50
  Speaker 6: When you talked about paid media and you said you
• 13:53
  Speaker 6: go under the line. And I'm wondering, now, if you're
• 13:56
  Speaker 6: doing that vertical method, how do you sell lack the
• 14:00
  Speaker 6: influencers the media, because a lot of times we'll hear
• 14:04
  Speaker 6: black media, right, But when we think of that, we'll
• 14:06
  Speaker 6: stick and we'll stay in that familiarity. But we won't
• 14:09
  Speaker 6: get that notoriety from other brands. So how did you
• 14:12
  Speaker 6: or how do you navigate through that?
• 14:16
  Speaker 5: It's again, it's nuanced because you have to prioritize what's
• 14:19
  Speaker 5: most important to you first, right, Like, so if the
• 14:23
  Speaker 5: segment of the population is I want eighteen to thirty
• 14:26
  Speaker 5: four year olds first, right, there's a certain age group
• 14:30
  Speaker 5: that you want to target.
• 14:32
  Speaker 7: And then you might say.
• 14:33
  Speaker 5: Well, out of the eighteen and thirty four, I think
• 14:36
  Speaker 5: that our brand skews more male, right, which is a
• 14:39
  Speaker 5: little unique now with gender fluidity. But you know, there's
• 14:43
  Speaker 5: do you do you target male conversations versus women conversations?
• 14:47
  Speaker 5: All of those things? And then once you figure that out,
• 14:49
  Speaker 5: you start to say, is there a factor around race?
• 14:52
  Speaker 5: Is there a factor around geo targeting?
• 14:54
  Speaker 3: Like?
• 14:54
  Speaker 5: Do I target Brooklyn? Like you said, Brooklyn's your number
• 14:57
  Speaker 5: one audience versus weho Los Angeles? Right, So you start
• 15:03
  Speaker 5: to zero in on where your bullseye is and you
• 15:06
  Speaker 5: spend the most of your time in that space. But
• 15:10
  Speaker 5: you also look at the whole of that segment as well.
• 15:14
  Speaker 7: Does that make sense?
• 15:15
  Speaker 5: So you're not trying to get twenty five to fifty
• 15:17
  Speaker 5: four year roles, You're trying to get as many eighteen
• 15:19
  Speaker 5: to thirty four year roles as possible, and then within
• 15:22
  Speaker 5: that you're carving out sub segments to figure out how
• 15:26
  Speaker 5: to connect with them.
• 15:27
  Speaker 7: And you do that based on a number of things.
• 15:29
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 15:33
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 15:37
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 15:41
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 15:45
  Speaker 1: some of the heinous migrant criminals caught because of President
• 15:49
  Speaker 1: Donald J.
• 15:50
  Speaker 2: Trump's leadership. I'm Christinoman, the.
• 15:52
  Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted
• 15:57
  Speaker 1: illegal border crossings are at the lowest levels recorded, and
• 16:01
  Speaker 1: over one hundred thousand illegal aliens.
• 16:03
  Speaker 2: Have been arrested.
• 16:04
  Speaker 1: If you are here illegally, your next you will be
• 16:08
  Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.
• 16:12
  Speaker 2: You will never return.
• 16:13
  Speaker 1: But if you register using our CBP home app, and
• 16:16
  Speaker 1: leave now. You could be allowed to return legally.
• 16:20
  Speaker 2: Do what's right. Leave now.
• 16:22
  Speaker 1: Under President Trump America's laws, border and families will be protected.
• 16:27
  Speaker 3: Sponsored by the United States Department of Homeland Security,