How Marketing should be done

5 replies
This was my latest post on www.howtomake100bucksaday.com. The other night, I, along with millions of others sat and watched the ESPN special "The Decision". I've watched sports my entire life and I have never seen anything like this in ANY sport. One player from a small market team dominates the airwaves? In the off season? Absolutely amazing!

But while you were watching this, and I know some of you were, did you learn how to run your business extremely effectively? Because that's the lesson that was being taught. Let's go back in time...about a week ago. LeBron James announced to the world that he was going to announce his decision about where he was going to play next season the Monday after the 4th of July. Now, stop right there! That was lesson #1. Create a buzz over a product that people feel they need to have. The result of this was throngs of people buying everything from T-shirts to Billboard space begging "King James" to come to their city, on top of whatever the teams from said cities spent courting The King. Now let me ask you. Do you think that maybe, just maybe LeBron, or some of his entourage may have started a side business selling some of the items that we saw fans wearing, or maybe the vuvuzela's people were blowing. If they didn't they missed out on a great opportunity(granted, James doesn't need the money but someone around him that isn't making $20 million + a year, may have been able to capitalize a bit, I would.)

After the initial announcement, LeBron announced that he was extending the time until Thursday and announcing his decision on ESPN. Now, maybe LeBron and his camp didn't get in on the fortune to be made from his marketing, but ESPN definitely did. This created a huge media and fan frenzy that led to his story being told, which every basketball fan needed to hear again. This further increases the hype. On top of all of that you had former players, current players, sportscasters and network anchors singing his praise for a full week! Talk about testimonials!

All of this increased the buying frenzy. 7000 people in Chicago bought season tickets in anticipation of the announcement just on the hopes of LeBron wearing their colors. Let me stop again. Can you even fathom having 7000 people buying your product before they even know what your product is? THAT is some talented marketing. The hype ran all the way up until 9:22 p.m. July 8, 2010, when Lebron announced on the most watched program in the nation that night, that he was going to the Miami Heat. If there was anymore buying to do at that point, it was being done in Miami. Unless some savvy marketer was ready somewhere with T-shirts bashing LeBron (you only would've taken a loss in one city).

So, to review the marketing lesson that was taught:

1. Announce that there is a great product coming to market
2. let everyone know why they need this product.
3. get testimonials from the authorities in your market.
4. remind people again why the need this product, and maybe even push back it's availability.
5. take all the pre launch orders you can get.
6. prepare another product for people that will be opposed to your product.
7. launch your product to an awaiting audience that has been whipped into a frenzy with anticipation.
8. Make a LOT of money and sleep well for a few nights.

Here is the one advantage that you can have over LeBron. You can create another product or service and repeat the process, he has to wait 6 years.

If your looking for a marketing plan, there it is. Read it, apply it and go make your money.
#marketing
  • Profile picture of the author Online Bliss
    So, review the marketing lesson that was taught:
    I have watched product launches that worked similar to that.
    Usually only a couple per year.
    however a significant percentage of the audience isn't always "whipped into a frenzy".
    One knows from the beginning it's gonna be expensive.

    By the way, you Floridians must be very happy!
    Signature
    You've got it Made
    with the Guy in the Shades!
    {{ DiscussionBoard.errors[2329120].message }}
    • Profile picture of the author Western Grizzlin'
      Lebron's reputation took a beating though. "The Decision" was universally maligned everywhere but South Florida.

      His brand is his main product. I think "The Decision" hurt that brand. I'm talking specifically about the TV show, not his actual decision.
      {{ DiscussionBoard.errors[2329198].message }}
      • Profile picture of the author ACGroup1
        Indeed, and that's where we have an advantage over LeBron. His product is him, so if 31 cities don't like him, he can't very well market himself there (positively anyway) anymore. Whereas we can market 1 bad product or idea, although if you know it's bad from the start you shouldn't market it at all, and we can make up for it later. But the big benefit here is the opportunity to profit from back end products while working up to the launch.
        Signature

        Warrior Deals on Fireplaces, Patio Heaters, or Gas Grills and more at HousewarmingHQ.com Contact me for Coupon codes

        {{ DiscussionBoard.errors[2330389].message }}
    • Profile picture of the author ACGroup1
      Yes we are very happy.
      Signature

      Warrior Deals on Fireplaces, Patio Heaters, or Gas Grills and more at HousewarmingHQ.com Contact me for Coupon codes

      {{ DiscussionBoard.errors[2330390].message }}
  • Profile picture of the author youngflower
    It is really right.
    {{ DiscussionBoard.errors[2330392].message }}

Trending Topics