Loving Marketing Podcasts

I commute to work everyday which takes me a total of 2 hours (1 hr each way) on the road a day. What to do with the time? I used to listen to music and talk radio until I realized I have to start doing something productive with this time. The podcast resurgence started happening about the same time (3-4 years ago) which was perfect. I discovered so many marketing podcasts at that time which was AWESOME.

I made sure I listen to them religiously everyday I was in my car. Here is a quick snapshot from my phone of just of some of them:

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What has this helped me do?

  • Stay on top of the current marketing trends

  • Think outside the box

  • Find influencers in the marketing world

  • Polish my digital marketing skills

  • Make me wiser

I am even thinking of starting my own soon since I work at one of the most prestigious analyst firms in the world and can talk to some great marketing analysts. Might be time for me to start adding value to this craft as well.

So what are your favorites?

Manpreet Jassal

@mjassal

(Thank you Seth Godin!)

 

 

 

 

 

 

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Death of the Real Estate Agent?

The title of this post might be a little provocative but I really think that this is going to happen soon. I was watching CNBC one day and some executive from Zillow was on talking about you can pretty much get the value of your house from their website. I totally agree. How can you market you own house? Here are a couple of tips that will help you sell your own house any day of the week. Put your house up on Zillow and Craiglist and then do this:

  1. Set up a phone number on Google Voice that’s just a voicemail where people can leave their info for YOU to call them back. If you don’t do this you will be getting calls all times during the day on your cellphone or house.
  2. Most important step: Do not show your house to anyone that asks. Before they come to your house you ask them to email, fax or bring with them their pre-approval letter from their bank. This will weed out so many people just casually looking so they do not waste your time. Understand, NOT pre-qualification letter. You need a pre-approval letter. What’s the difference? View here: http://www.investopedia.com/articles/basics/07/prequalified-approved.asp
  3. It matters what state your are in so make sure to get a lawyer that has been doing real estate for a long time.
  4. Make sure you price your house to sell. Do not be greedy or you will be disappointed.

Just doing these things you can sell your house yourself. There are many other things you can do as well, but I just wanted to share the top important things you need to get started. Now maybe a real estate agent can help you buy a house, I just talked about a selling your house in the next post I will talk about how to buy a house from a real estate agent or the owner. I hope this helps you save time and money.

If you have any questions, tweet me @mjassal

(Former real estate agent)

The 4 A’s, C’s, E’s and P’s of #DigitalMarketing

Anyone that first formally started learning about marketing is familiar with the 4 P’s. Edmund Jerome McCarthy introduced the Marketing Mix which we now know as the 4 P’s. Professor Philip Kotler (who I love) popularized the 4 P’s even more in his 1967 book called The Principles of Marketing, which is now in its 16th edition. Here are the the famous 4 P’s:

Productitem that satisfies what a consumer demands

Price amount a customer pays for the product

Placedistribution of the product

Promotionmethods of communication that a marketer may use to provide information to different parties about the product

But now marketing is going through a paradigm shift and some are calling for these to be reinvented and change part of the mainstream thought process mix. Jagdish Sheth, Professor of Marketing in the Goizueta Business School at Emory University, wrote in 2011 a book titled “The 4 A’s of Marketing: Creating Value for Customer, Company and Society.” Robert F. Lauterborn, Professor of Advertising in the School of Journalism and Mass Communication at University of North Carolina wrote in 1990 about the 4 C’s of Marketing. Brian Fetherstonhaugh, Chairman and CEO, OgilvyOne Worldwide wrote in 2009 about the 4 E’s of Marketing.

Here is my breakdown of the A’s, C’s, E’s and P’s:

Acceptability—>Consumer—>Experience—>Product

Affordability—>Costs—>Everyplace—>Place

Accessibility—>Convenience—>Exchange—>Price

Awareness—>Communication—>Evangelism—>Promotion

The 4 A’s: Acceptability, Affordability, Accessibility and Awareness. According to Professor Sheth, “the 4A framework derives from a customer-value perspective based on the four distinct roles that customers play in the market: seekers, selectors, payers and users.”

The 4 C’s: Consumer, Costs, Convenience, and Communication. According to Professor Lauterborn, you have to start studying Consumer wants and needs, understanding their Cost to satisfy that want or need, thinking about Convenience to buy and communication that creates a dialogue.

The 4 E’s: Experience, Everyplace, Exchange, and Evangelism. According to Fetherstonhaugh, you have to stop thinking just about your product and start thinking about the full Experience, intercept consumers on their turf and on their terms, and that could be anyplace or Everyplace, offer your consumers something valuable in Exchange for their attention, their engagement and their permission, all to inspire your customers in becoming Evangelists for your brand.

All of these mixes have one thing in common: Creating “Value” by looking at marketing through the lens of the Customer.

I am sure there are more 4 letter marketing mixes out there but I really liked these because they are customer-centric. The 4 P’s for me stand as the foundation of any effective marketing campaign. Realizing we do have to speak the in the language of the customer I think the 4 A’s C’s and E’s are a great way for the modern marketer to get started in a world where demand for inbound/content marketing is increasing to provide a valuable customer experience.

Originally posted on LinkedIn on March 16, 2015.  

Manpreet Jassal

@mjassal

The Best Marketing Advice I’ve Ever Heard

I am a huge fan of the Content Marketing Institute (CMI) and I believe that Joe Pulizzi and Robert Rose have been doing a phenomenal job of bringing insightful thought leadership around content marketing to marketers around the world.

I was reading a blog post on their site last week and they were interviewing Robert Rose and it gave me one of the wisest, most sound marketing advice I have ever heard. Just to let you know Robert Rose is the Chief Strategy Officer at CMI and he was talking about his new book coming out called Experiences: The 7th Era of Marketing.

They asked him what was the most valuable advice you have given personally or professionally? He told them that his grandfather was a wealth of information and advice and years ago he shared this wisdom with him:

What experience have you created for somebody lately?

After I read that I thought to myself wow I can’t believe how amazing this is! I paused and thought about it for a minute. You can use this advice for so many areas in your life not just marketing. But since I had my marketing hat on (or turban) this is probably the best marketing advice I have ever heard.

Every day that goes by marketing now is becoming more of a customer approach, experience and service than just advertising. The way people want to be approached, engaged, acquired, and retained all relates to the experience your brand provides for them. Take any brand in the world, when customers think about them they relive the experience in the mind. Our job is to create the best possible experience we can through all the channels available to us in this digital business era. Going through that experience you learn a lot about yourself and your business.

My Instant Change: The steps I now take in formulating my marketing strategies should have a great and meaningful answer to the question “What experience have you created for somebody lately?”

Thank you Robert Rose’s grandfather!

Manpreet Jassal

@mjassal

Why every #DigitalMarketer needs to be on #Twitter

“Advertising people who ignore research are as dangerous as generals who ignore decodes of enemy signals” – David Ogilvy

Now, I know what you’re thinking “Hey, I’m a great marketer because I increased sales last quarter and my engagement was up. Why do I need to care about Twitter?”

I get it and I totally understand where that question is coming from but that is not the reason you need to be on twitter. Most marketers who are on it just use it to push and distribute content. How many are engaging? Networking? And most importantly listening? This is basically a new way to do market research.

Twitter has become a distribution platform more than an engagement platform. Marketers need to start using it more to help build a relationship with their clients and prospects. Listen to any social media expert out there and they will tell you the same thing.

But let’s go back to that original person’s point saying “hey, I’m a marketer and I’m doing really well and I’m not even on Twitter.” My question to you would be then how are you listening to your clients or prospects? Researching on twitter is a great way to get real time information on your market. Now I am not saying start tweeting, retweeting and talking to every single person. I am asking you to start listening to the people that could be your clients and prospects and to see what they’re talking about and start engaging with them. If you are making 5x year over year in revenue right now, wouldn’t 7x be better? I think Twitter can help.

Did you know if you own a local coffee house or craft beer house you can actually see if people are talking about any of them in a 5 mile radius of your business? Using different hashtags you can listen to conversations about #Coffee or #CraftBeer in your local area. Maybe jump in the conversation just to help them or agree with that they are saying. Don’t sell your product right away, just talk to them to build a connection. Overall goal is to build a relationship with your community.

I use Twitter to listen to people all the time, engage with marketers to see what they’re thinking and learn from them. So the next time I push out content I can relate to the community even more. Twitter is just going to get bigger and bigger and especially with the new video platform that came out which is going to take eyeballs away from YouTube.

If you don’t have a Twitter account or if you do have one but are not active I encourage you to get active on it. Just start listening to your audience and see what they’re talking about it hopefully you can help build a connection and a relationship with them that overall would benefit you and even more benefit them. 

Manpreet Jassal

@mjassal

1 Law and 2 Quotes I think about Every Single Day

I feel like I have been a marketer my whole life. Everything I do today doesn’t even feel like a job anymore because its part of who I am. That being said, there is 1 marketing law and 2 quotes that I think about every single day. I don’t try to think about them at all but they have become part of my DNA.

So Al Ries and Jack Trout wrote a book called “The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk!” The law that hit me hard right away was:

The Law of PerceptionMarketing is not a battle of products, it’s a battle of perception.

The basic concept being all that exists in the world of marketing are perceptions in the minds of the customer or prospect. The perception is the reality. Everything else is an illusion. It doesn’t matter if product A is better than product B, if consumers think product B is better, facts don’t matter. This is why Apple has taken over in phone sales this year even though Andriod had more features and benefits years ago. Its very hard to change perceptions.

The 1st is from David Ogilvy who I (and most people) think is the Father of Marketing. He has written many books which are still a part of many marketers top ten lists. Ogilvy has so many quote attributed to him but my favorite is:

If it isn’t creative, it doesn’t sell.

Every time I look at a creative the first thing I think about is, “will this help me sell more of X, Y, Z?” Yes, the creative needs to look amazing but if it doesn’t get the message by engaging you in a further conversation, then it really doesn’t matter.

The 2nd quote is from Peter Drucker. What can I say about him, he is known as the “Founder of Modern Management.” When I first heard this in a keynote by Jack Trout several years ago, I went and read about Drucker. I love the way he said this, not even one word is out of place here:

“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

Trying to be unbiased here as a marketer but Drucker got it right. If you think about the biggest companies in the world right now they are doing these two things: Innovating and Marketing (i.e. Google, Amazon, Apple, etc) Even Professor Philip Kotler said that the basic function of marketing is to “create jobs.” I encourage you to read all of the books by these great men and hopefully it will shape your marketing DNA as well.

My conviction is that companies that really follow these things consistently year over year will have a bright future ahead of them.

Manpreet Jassal

@mjassal

why Marketing matters all the Time! (Apple vs @SamsungMobile)

I wanted to get back to my roots and write about marketing today. So everyone knows by now that Apple came out with a new phone called “iphone 6” and a payment system called “Apple Pay”. Fanboys love it and all Android users say its lame. One of my friends on facebook posted this image:

iphone vs samsung

So this is where marketing comes to play and why it matters all the time.  Yes, the Android might have all the features in 2012 what the iphone 6 now has in 2014. So I am here to tell you all of that stuff doesn’t matter. It’s all about marketing.  Marketing is NOT a product features game (like the list in the image). If it was so many companies would be out of business right now.

MARKETING is all about conveying the FEELING of your product. That’s why beer commercials don’t tell you whats in the beer, they just show everyone having a great time with the hottest girls. Apple makes sure they point out all of their features but they also make sure that you know this is going to change your life forever. (It might not, but it just might)

Also, Apple has BRAND equity and a lifestyle attached to it. Samsung makes phones, tv’s, refrigerators, watches, laptops, speakers, cameras, washers, dryers, etc. A brand that has these many line extensions will not succeed in the cell phone war for the long term. They might do well but they will never surpass Apple in brand equity. I am not saying anything new here, this is just marketing 101. This is why amazon’s phone did not work.

Think about branding and culture, Tim Cook, Steve Jobs, Woz, “geniuses” are synonymous with Apple. Who does Samsung have?

Manpreet Jassal

@MJASSAL

Jordan Belfort’s best quote

I am watching Jordan Belfort’s (the real Wolf of Wall Street) straight line persuasion dvd’s just to be better at sales and marketing. I love reading and watching videos like this or anything that brings more value in my life. I came across this quote while watching his videos and I truly love it because it’s so TRUE and I had to share:

The only thing standing between you and your goal is the bullshit story you keep telling yourself as to why you can’t achieve it. – Jordan B

Image

 

Manpreet Jassal

@mjassal