After Baumgartner returned safely from the
stratosphere, the indelible impression that the energy drink literally “gives
you wings” remained. It was content, plain and simple -- a YouTube video with
37,000 comments that is now inextricably linked with Red Bull’s brand.
Even considering the astronomical costs of
ferrying a daredevil superstar into space, Red Bull’s stunt was an investment
in its future. By eschewing conventional-marketing wisdom and building a viral
boon through an established, affordable channel, the company with the slim,
silver cans demonstrated thoroughly that the marketing rulebook has changed.
The old methods don’t work anymore. Awareness
and presence are no longer enough for modern brands. Customers want engagement,
and traditional-marketing mediums simply don't foster these results. The mere
fact that marketers are debating whether you are actually more likely to
survive a plane crash than click on a banner ad is as telling as any statistic
out there.
Even with a conclusive answer, the point is
virtually moot: as of last year, 22.7 percent of Internet users were blocking
ads, and that number is growing at 43 percent per year.
Other traditional mediums are down as well.
Television viewership is down a full 50 percent since 2002. As for print media,
you already know the story.
Consumers are turning away from media models
that no longer fit their needs and they’re taking marketers with them. On the
surface, this exodus means less eyes on advertising, and less potential
conversions overall.
But the picture isn’t quite that simple. What
these numbers represent on a much deeper level is that consumers want their
digital experience to be relevant. With social media, YouTube and Netflix
serving up exactly what the user wants, it’s no wonder that personalization is
no longer a luxury, but an expectation. Businesses that fail to understand this
change are charged with the unenviable task of shoehorning old media into a
market that demands change and adaptation.
The modern customer requires an
investment. So how do you reach this new, agile,
discerning consumer? The short answer is “on their terms.”
Consumers today are plugged into multiple
channels and served with personalized content at every turn. Netflix automates
your movie recommendations, Amazon suggests products based on your viewing
history, and Facebook delivers personalized news feeds that correspond to your
tastes, preferences and behavior.
This expectation of personalization has
become ubiquitous and no business can afford to ignore this trend. The problem
is, most businesses don’t have the kind of engineers and data volumes needed to
implement such powerful, automated resources.
For small and medium businesses, long-haul
marketing strategies, including content marketing and social media, develop an
understanding of the target audience that permits this level of
personalization.
Blogging is, at its core, a conversation
between blogger and audience, enabling discussion between the two and subsequent
iteration of ideas and formats. YouTube allows businesses to put a face on
their enterprise and connect with users in a way that makes them feel that
their voices are heard.
In each instance, these marketing channels
take time to develop, but the payout is worth the investment. A well-curated
YouTube channel, blog or Facebook page turns into a hub of conversation,
ideas and positive brand association, but none of it occurs without
methodically, organically building a following.
Return on investment matters. Motivated
and engaged customers are high-conversion customers. While
conventional-marketing methods may foster awareness of a product or brand,
these impressions do little to allay the fears of consumers. This is what makes
content marketing tick: businesses seize the opportunity to engage their
customers and become that genuine authority that buyers need to answer their
questions, thus facilitating conversion.
The numbers speak for themselves. From an ROI
standpoint, content marketing costs 62 percent less than traditional
marketing and generates three times as many leads. Furthermore, these
numbers aren’t limited to a single case: 82 percent of marketers who blog
reported positive ROI on their efforts. Once these nurtured leads are in the
conversion funnel, they spend 47 percent more than non-nurtured leads,
according to The Annuitas Group.
Marketing titan Seth Godin was once quoted as
saying, “Content marketing is the only marketing left.”
When you consider the cold-hard numbers, it’s
possible that he was on to something.
The new methods take time. Just
as the name implies, anything “organic” takes time to grow. Content marketing,
social-media marketing and other forms of engaging media will likely reach
only the smallest of audiences while new businesses are laying their
groundwork. However, over time, the seeds they sow turn into repeat purchases,
brand recognition and a solid marketing foothold.
Blogs take six to 12 months to develop.
YouTube audiences require diligent and painstaking production and engagement.
Yet both cater to massive audiences that can and will use the same platforms
for brand evangelism. Even Red Bull’s now-prolific channel had to start
somewhere.
Modern consumers are changing how they make
their purchases, and businesses must adapt with them. Scattered attention spans
between platforms and mediums mean that conventional-marketing methods designed
only to raise awareness fail to meet the needs of discerning buyers.
Savvy businesses take note: customer
relationships are the new currency, and no one strikes gold without rolling up
their sleeves.
Written By:
Eric Siu
Credit:
Entrepreneur.com
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