Some businesses may resort to marketing techniques that are not only costly but also ineffective in establishing their brand. While investing in promotion is good, marketing your services does not always have to be expensive and bizarre. It only needs to be in-system.
In today’s episode of The Best Business Podcast, Daryl welcomes Craig Jacobson. Craig is an award-winning corporate marketer who helped steer businesses like Johnson and Johnson America to reach successful sales. They explore effective marketing systems and how to make a model that fits yours.
If you are a struggling business owner curious about growing your business through marketing, this episode is for you.
Here are three reasons why you should listen to this episode:
- Know why enriching your data can lead to more accurate business measures
- Understand how the two-step sales process in marketing works
- Discover the common challenges, new insights, and the future of business marketing
- Connect with Craig: LinkedIn, Website
- Are you looking for the best business model to upscale your business? Craig and his team can help. Simply go to https://www.openspacesmarketing.com/ and fill out the necessary form below.
- If you appreciate business marketing, data enrichment, and good stories, book a call with Craig at https://www.meetup.com/small-business-steroids/.
- Build a successful business with BestBusinessCoach.ca.
[01:33] Deciding Which Path To Take
- Before his fruitful career, Craig had to weigh between academic, legal, and business pathways.
- He had a dual concentration in international finance due to his fascination with mobilizing money as if in a three-dimensional chess game.
- Traditional marketing runs by four primary pieces; package, product, placement, and promotion.
- He learned that understanding psychology and being able to change people’s perception of the world is the first step in efficient marketing.
[4:45] A Thirty-year Career In Marketing
- Craig worked part-time jobs as a lifeguard and a night crew in a grocery store before steadying in business marketing.
- His first worked analyzing businesses with a company in Chicago that wanted him to figure out new markets fit for extending their store branch.
- Looking for gaps in business metrics, Craig had to forecast revenues of existing stores and survey the population and their income levels.
Craig: “We built an algorithm to figure out which product sales that I could count on the shelf would help me best predict the revenue.”
- He also worked with a Germany-based retailer that reinforced the importance of choosing the best locations when deciding on new outlets.
[14:37] Understanding Your Customers Matters
- A heat map is a plot of customer locations about store branches.
Craig: “If you can understand your competitor better than they understand themselves, you can seize some opportunities that they haven’t seized some.”
- Tools in business analytics are upgrading, but the most important shift today is in the mindset of marketers. Oddities are now the norm.
- Craig thinks businesses looking for more traffic should aspire to know their customers better than they know themselves.
- He believes that marketing techniques have now become less expensive but more effective.
- Citing his long experiences in marketing, Craig claims that most people go to the same ten places. Figuring out these ten locations allows understand your potential customers.
[18:46] Enriching Data To Your Advantage
- Daryl described how Proctor and Gamble is a massive company with many subbrands to maximize their lifetime customer value.
- Big companies focus on creating first-party proprietary data. Small businesses and startup companies can buy data from third-party sources.
Craig: “You have to understand that the data can make you smarter and highly effective at being able to tell a relevant story to somebody at some time.”
Daryl: “Businesses solve problems. Problems are markets, not demographics.”
- Data can also come from business owners. In generating qualitative data, it is important to identify the profile of your customers.
- It is important to double-check with data sources to ensure that it is the client’s actual customers.
- Daryl recalls using the ‘lookalike’ technique in narrowing down the best customers of the clients he worked with before.
[28:09] Challenges And How To Overcome Them
- Craig believes marketing should be at the core of struggling businesses to overcome their dilemma.
- Spending or investing in third-party lookalike mechanisms is beneficial in enriching customer lists.
- For Craig, it is difficult to find a message that appeals to each layer and different types of target audiences.
[34:31] Digging Deeper Into Two-step Sales Processes
- In assessing social proof symbols, it is vital to know how going ‘less is more’ might affect interaction and purchase rates.
- Daryl reminds the importance of systematically identifying profiles, breaking down messages, and analyzing what’s getting attention.
Daryl: “AIDA: attention, interest, desire, action. How much is getting attention and interest? And then where is that interest taking them.”
[37:10] Costly Mistakes That Clients Make
- The sin of inaccurate assumption is one of the biggest mistakes companies make. Validated beliefs may be true once but may also change over time.
- Daryl believes that struggling businesses do not always have to work harder to fix an issue. Solving problems may only require recognizing the mistake and then projecting different techniques.
- It is difficult to do the same things in three different ways, but changing frames can help you be more relatable.
[41:55] Envisioning The Future Of Marketing
- Craig believes that the channels to connect with potential customers, such as retrospective geofencing, will evolve in the future.
- The involvement of data enrichment technologies, machine language, and artificial intelligence can harness more efficient systems for companies.
Craig Jacobson is a marketing strategist and corporate marketer. He has helped increase various companies’ and corporations’ revenues and sales opportunities. He was able to strategize over 200 effective marketing systems in pursuit of enriching businesses.
As an award-winning figure, Craig has vast experience in marketing and sales-related functions. That includes operations, financial analysis, regulatory, legal, and risk management issues, among many others.
If you want to know more about how to make efficient and money-making marketing systems you may talk to Craig through his website. You may also tune in to their Friday morning talks at https://www.meetup.com/small-business-steroids/
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