6 minute read
Marketing
Beware of the new marketing disease called Instant Gratification Syndrome
‘I NEED TO MEASURE ROI’ IS A SYMPTOM
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RYAN DOHRN
Instant Gratification Syndrome, or IGS, is a debilitating disease characterized by emotional servitude to the Now. In fact, IGS and ROI seem to be universal terms for “results.” But, what does the term “results” really mean? That is a question that, when answered, could be worth a million dollars.
Can I be brutally honest for a moment? The reason that many marketers and business owners do not like traditional media is because they don’t receive a report to show they did the right thing. I work with many smart marketers who understand that marketing is a strategic process and not just an IGS feel-good show. Consumers buy when they are ready to buy, not when a company wants them to buy.
Wait. Ryan, do you hate digital marketing? No, I love it. I just know that serious marketers use multi-channel or omni-channel marketing because it works. The Association of Magazine Media tells us that as much as a 14 percent lift in ad effectiveness comes with you combine media in marketing.
All-digital is not the answer and here is why. I predict that Generation Z, those born between 1996-2010, according to Forbes, will click less than our grandparents. Why? Because they know that a click starts the tracking of them and they hate being tracked! Here are five points to consider. ■
RYAN DOHRN is an Emmy Award winner, Fortune 500 advisor and globally recognized sales consultant and unlike other trainers, Ryan actually sells EVERY day! Since 1994, he has trained and coached over 20,000 sales reps to date and speaks over 60 times per year. In total Ryan has been a part of over $500 million in ad sales to date. Ryan loves teaching sales reps his simple and effective way to achieve sales success. He has clients in Australia, Spain, UK, Holland and the USA. Ryan is the CEO and founder of Brain Swell Media LLC, a corporate training and revenue strategy firm. He is also the Publisher and Owner of the corporate sales training web portal SalesTrainingWorld.com .
■ Marketing is a strategic process that truly cannot be managed
like a day trader on the stock market looking for quick cash.
The simple fact is that potential customers are not ready to buy right now. Sad, but true. According to Steve Richard of sales consulting firm Vorsight, at any given time, only 3 percent of a market is actively buying, 56 percent is not ready to buy, 40 percent is poised to begin and 1 percent is indifferent. This means that 56 percent of your potential customer base is set to give you NO on immediate ROI of your marketing efforts. Another 40 percent of your potential customer base is set to give you minimal ROI on your marketing efforts and only 3 percent of your potential customer base is set to give you immediate ROI on your marketing efforts. ■ Consumers love content. New findings from B2B research, ratings and review company Clutch reveals that 82 percent of people admit to having purchased a product or service from a company as a result of consuming content. They like content that is relevant and important to them. TV shows. Blogs. Magazines. Videos. The 56 percent of buyers that are NOT set to give you any immediate ROI are very critical to a company’s revenue success. That 56 percent will move to buyers at some point. The other 40 percent is pretty darn close to being a buyer, too. Yet, neither group is going to immediately engage with your company, and so you will not see ROI on that marketing effort. It’s not that the marketing is not working. The marketing just has not worked yet. When you marry your marketing message to quality content, you are engraining your brand into the potential buyer’s mind using frequency in a format that is not intrusive and does not require a click or ROI type of action. ■ Google gets credit for everything. John Wanamaker, the founder of what would become Macy’s, is famous for his marketing quote, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Fast forward 100 years and, in my opinion, we are still facing a similar dilemma because Google gets credit for almost all the marketing that occurs. We run a quality ad campaign with print ads, e-newsletter marketing, retargeting and social. Then we start looking at reports. Wait, there is not a report from the magazine or newspaper or radio station. OMG! So, that advertising must not be working. Not true! But wait. Your customers say that everyone they “ask” says they found you on Google. That is because when customers see a print ad or hear a radio ad they immediately search on their phone for more information. ■ You are not a direct response company unless you offer
Ginsu knives.
Many companies expect immediate ROI on products that are not priced at $19.99. But wait, there’s more. Direct response marketing is all about making things happen now. If your company is not selling a product or service that can be sold fast and by showcasing massive perceived value, you should not be expecting immediate ROI, as if you were running a late-night TV ad for a set of Ginsu knives. ■ Traditional media is not dead. Stop allowing the lie to spread. The marketing mix has evolved so if you find yourself believing that no one reads the paper, a magazine or watches TV, it may be because you do not engage with that exact media. Your “survey of one” is deadly and, if left unchecked, spreads like wildfire. I recommend to remember your marketing should not be about what you or I like or dislike. It should be about engaging with your customers in whatever media they consume and enjoy.
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