The Marketing Myth That Is Killing Businesses

29 replies
Jason Kanigan posted this link on Facebook. So I wanted to give him credit for this find. It's very much worth reading, if you sell online services to offline businesses.

The Marketing Myth That Is Killing This Generation Of Businesses | Inc.com

A few of the subtitles;

Faulty Assumption #1: If you create content, people will consume it.

Faulty Assumption #2: If you build a tribe, they will buy from you when you release a product.

Faulty Assumption #3: Startups should put energy into turning browsers into buyers.

Faulty Assumption #4: People won't buy unless you've invested a great deal of time into the relationship.


And there is more. This will be uncomfortable for many here. But the good news...it doesn't involve cold calling on the phone.

Thank you, Jason, for the heads up.
#businesses #killing #marketing #myth
  • Profile picture of the author marciayudkin
    Claude,

    I agree that much of what this guy says is valid, especially:

    * The problem-first approach is much more powerful than the content-first approach.

    * Advertising to people who have an urgent problem they strongly wish to solve now is more effective and lucrative than relationship building.

    This advice is more applicable to folks who are in the beginning phases of building a business. If you already have a business, I am not sure it makes sense to switch to his approach, though. Some products and services do not address an urgent need, but rather a slow itch, and for the latter situation the approach described in this article would be wrong.

    Marcia Yudkin
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  • Profile picture of the author John Durham
    I quite enjoyed the article and agree with it. People have been selling directly to strangers for years... Focusing on a good page of ad copy until it converts is where its at if you really want to go straight for the sale, and it does work. Still.

    I think relationship building is great too, because many people will buy from you down the road if they dont now, when you build that. It's just crazy not to at least develop and nurture an email list.

    Still, a single great piece of copy and some targeted traffic is quick and painless, and can be very effective.
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  • Profile picture of the author Joe Stewart
    Russ Ruffino is a freaking prodigy. I've followed this guy ever since he first quit his job as a bartender a few years ago. He used to put out some pretty good products (WSOs and Clickbank?) back in the day until he moved beyond that and into coaching.

    He put out free notes to a Warrior even a few years ago that were exceptional. Detailed notes on every speaker, best takeaways, etc - FREE!

    This is a great share!
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  • Profile picture of the author O0o0O
    Problem first strategy is far more effective. That's how we do it in the offline world as well. In the first 1 minute, we find their true problem. Then we spend the rest of the time offering them a solution customized to them. Works like a charm.
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  • Profile picture of the author Joe Stewart
    Well, it used to be posted on his website, but it looks like he took it down. I believe there were two days. Here was the link to day one.

    http://russruffino.com/warrior-event-2011-day-one

    Still, it seems like a copied the stuff that I felt was relevant to me. I'll keep digging, but it may take a day or two.
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  • Profile picture of the author Jason Kanigan
    Thanks, Claude.

    I also talk about beginning with the pain points of your target market.

    But many people have bought into the "build it and they will come" idea.

    There is an advantage to having a lot of *focused* content out there, which I benefit from every month, as people looking for help out of those situations will find it and want to explore further.

    If you make a bunch of disconnected content--this month I'm a VSL guy, next month I'm a programmer--then it's no surprise your content gets ignored.

    I have some smart friends who get a lot of engagement, far more than I do...but when it comes time for their audience to buy, "Oh no, I wouldn't pay for that..."

    So engagement and sharing are not critical measures for success.

    Action taken from content views that lead to sales, such as signups for strategy calls, are far more telling. Where do you step into your prospective customer's thought process? That's a much better question than "What content should I create?"
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  • Profile picture of the author jimmcdonald909
    yeah that's the "thing" for my business that's exactly how it works.

    This advice is more applicable to folks who are in the beginning phases of building a business. If you already have a business, I am not sure it makes sense to switch to his approach, though. Some products and services do not address an urgent need, but rather a slow itch, and for the latter situation the approach described in this article would be wrong.
    I am not saying the other approach is wrong but you have to adapt to your business.
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  • Profile picture of the author quadagon
    Originally Posted by Claude Whitacre View Post

    Faulty Assumption #2: If you build a tribe, they will buy from you when you release a product.
    For me tribe building is a fundamental part of the business. That said I think the vast majority misunderstand tribe building.

    I'm not a 'money is in the list' person as I think it over simplifies a crucial element of building you business and encourages the worship of useless metrics. I talk with businesses owners and read on here people who are obsessed with the size of their list or the number of followers on a social media site.

    To me its a cancer. Businesses think they are doing well when they are just building their foundations on sand.

    I look to build two tribes for most of the campaigns we run:

    Buyers.

    Qualified leads outside buying window.

    If you are not either of these then you are not apart of our tribe. If you are not either of these why would I waste my time welcoming you into my tribe.

    Again it's another belief of mine, marketing should repel as well as attract.

    This is a system that has evolved over time due to a need. I believe that successful marketing is based on four M's:

    The right MESSAGE

    To the right MARKET

    Through the right MEDIUM

    At the right MOMENT

    For some of the campaigns customers have a specific renewal date so calling them for 11 months of the year is pointless.

    At the start of the sales process we go in with the pain point proposition but if we have the wrong moment then its not a pain.

    It's at this point that I think you need to move into tribe building.

    I think like many things there are no absolutes and you need to be aware of your industry and market. I can think of multiple markets where I wouldn't want to build a tribe.
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  • Profile picture of the author Oziboomer
    To add to the resources that will help and for people who like to study thought leaders in marketing here is some content that may get your mind thinking....

    Resources - Ballistix
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  • Profile picture of the author bizgrower
    Always good reads on entrepreneur.com and inc.com.
    Usually I quickly tire of buzz words, but I still like the term thought leader.

    I was looking at Perry Marshall's website because he used to use the analogy of
    selling a drill versus how a drill solves the problem of needing a hole. (I could
    describe better, but I've only had one cup of coffee and not enough sleep. LOL)

    His site is quite different now, but he does provide a very good example of getting
    to the problem(s).

    He has a pop up with "start here" button that says:

    "Unsure Where to Start?
    Take my ONE MINUTE QUIZ
    and it will lead you right to the
    best solution to your biggest problem!"

    Click the button and it takes you here:
    https://www.perrymarshall.com/60-second/
    Autoplay video first words:
    "Hi, This is Perry Marshall and I want to help you solve the
    biggest problems you are facing right now (with emphasis on right now)..."

    -------

    Also, Todd Brown is selling an info product on how he builds sales funnels
    and in the copy he says he has a process to build the exact sales funnel you
    need for your business. I think worth a read of the copy to say the least.

    Not an affiliate link:
    https://mfaliveevent.com/preorder-training-bundle

    Dan
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    • Profile picture of the author Joe Stewart
      Originally Posted by bizgrower View Post


      I was looking at Perry Marshall's website because he used to use the analogy of
      selling a drill versus how a drill solves the problem of needing a hole. (I could
      describe better, but I've only had one cup of coffee and not enough sleep. LOL)

      Dan
      I believe it read:

      "When people go looking for a drill, they don't need a drill, they need a hole".

      In other words, you've gotta "drill down" to find out what their real pain point is. (Sorry, I couldn't resist the poor attempt at humor. Lol)
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      • Profile picture of the author quadagon
        Originally Posted by Joe Stewart View Post

        I believe it read:

        "When people go looking for a drill, they don't need a drill, they need a hole".
        I've heard variations of this quote over the years and every time I can't help but think it's not true.

        No one buys a drill because they need a hole. They get it because they need a shelf putting up or the flatscreen placing on the wall.

        We actually use this in our training as to why features and benefits aren't enough. I go with F.B.I. (Features. Benefits. Impact)

        Feature: A diamond tipped drill head

        Benefit: Perfectly circular holes speed up work time

        Impact: the in-laws are in jealous of your new curved TV taking pride of place in the living room.
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      • Profile picture of the author ewenmack
        Originally Posted by Joe Stewart View Post

        "When people go looking for a drill, they don't need a drill, they need a hole".
        The drill is for a guy...

        so...

        His wife is nagging him to put up a mirror

        He wants to go fishing with his buddies
        and sink a few tinnies

        The drill is his quick exit

        Wife happy, he's happy,
        he live's happily ever after.

        Best,
        Doctor E. Vile
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        • Profile picture of the author Joe Stewart
          Originally Posted by ewenmack View Post

          The drill is for a guy...

          so...

          His wife is nagging him to put up a mirror

          He wants to go fishing with his buddies
          and sink a few tinnies

          The drill is his quick exit

          Wife happy, he's happy,
          he live's happily ever after.

          Best,
          Doctor E. Vile

          You should have been a marriage counselor, Ewen. My wife will be home any minute now and I find myself wanting to go buy a drill. Funny how that works. Lol
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  • Profile picture of the author AmericanMuscleTA
    Great find, Jason, and thanks to Claude for sharing.

    Just like the copywriting formula: PROBLEM - AGITATE - SOLVE
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  • Profile picture of the author bizgrower
    ^^^^^
    SOrry. Could not resist:
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  • Profile picture of the author sdentrepreneur
    Here are my thoughts on several of these Assumptions

    Faulty Assumption #1: If you create content, people will consume it.
    Only if its Quality Content and you position that content in front of your target market.

    Faulty Assumption #2: If you build a tribe, they will buy from you when you release a product.
    If you build a targeted tribe and offer a solution to your tribes problems....they will buy.....

    Faulty Assumption #3: Startups should put energy into turning browsers into buyers.
    I have worked with many start ups...Startups need to focus on finding their target audience and offer a solution to them....which will turn them into buyers

    Faulty Assumption #4: People won't buy unless you've invested a great deal of time into the relationship.
    Tough one....I have had people buy my course who first came into my sales funnel 2 years ago and then again, had people buy on the first touch. Relationship building is key....but I suggest to build your pipeline and keep a steady relationship with your leads. There are too many other people distracting them to sell them their product or service.

    I will get off my soapbox now....LOL...
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  • Profile picture of the author joe golfer
    He's a good copywriter, and this is probably a good pre-sell for his webinar.

    But...

    If people are really doing content marketing the way he describes, no wonder it doesn't work. Good content marketing speaks directly to consumer/buyer questions and problems.
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  • Profile picture of the author kimanierick
    The first problem is investing in the wrong business. Just because someone made it does no mean that you will also make it in the same field. You should have enough reasons to start a business after Identifying a problem or a gap then invest in trying to solve the problems. Most business people will identify a solution then start trying to find a problem, this is not right. Ensure that you do good business promotion and surround yourself with the right staff and definitely the results will be astonishing. Thank you for that informative post.
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    • Profile picture of the author tryinhere
      Originally Posted by kimanierick View Post

      Most business people will identify a solution then start trying to find a problem, this is not right.
      How do you identify a solution, if there is no problem to start with? exactly what are you fixing?
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      • Profile picture of the author quadagon
        Originally Posted by tryinhere View Post

        How do you identify a solution, if there is no problem to start with? exactly what are you fixing?
        Be the sword and the shield

        http://www.smithsonianmag.com/smart-news/marketing-campaign-invented-halitosis-180954082/
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        I've got 99 problems but a niche ain't one
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        • Profile picture of the author bizgrower
          Originally Posted by quadagon View Post

          Then sometimes you get lucky and create a market - like adding a programmable clock to the old coffee maker.

          -------

          A friend of mine helps people get inventions to market. There are a lot of would be inventors with
          what they think is the greatest idea in the world, only to find that very, very few people want it.

          Dan
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          • Profile picture of the author Claude Whitacre
            Originally Posted by sdentrepreneur View Post

            Faulty Assumption #2: If you build a tribe, they will buy from you when you release a product.
            If you build a targeted tribe and offer a solution to your tribes problems....they will buy.....
            Here is where many get confused.

            What is a tribe? What is a herd?

            When you say these words, one of these things pops into your head;
            Everyone in my business.
            Everyone that buys what I sell.
            Everyone on my list, that gets an e-mail from me.
            Everyone that has asked for free information.
            Everyone that has bought from me before.
            My continuity buyers.

            See? These 'tribes" have vastly different values.

            To me, my "Herd" was always the subscribers to my paid newsletter, at $39.95 a month.
            My first sale was to sell the subscription. And then those people got my other offers.

            Out of those people came my clients, my phone consulting buyers, my service buyers.

            When I was speaking to a new group. I made sure that my newsletter was sold. If I was selling a high end product, my newsletter was always attached. (as a paid subscription).

            You could subscribe to my newsletter, without buying my main product, but you couldn't buy my main product, without my newsletter. That was my herd.

            When someone thinks that their "herd" is anyone who they send e-mail to.....then it may not be that profitable, unless that herd also includes your buyers.

            Buyers buy.

            Anyway, off my soapbox for now.
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  • Profile picture of the author SiteSmarty
    People buy from whomever can deliver the perceived result to their problem or want, when they want it. Doesn't matter if they're in a tribe, herd or a lone wolf. If you're at the right place, at the right time, use the right language, possess the perceived result ready to put it in the buyers hand, they buy.

    Success is in your system. You need a system that can deliver the perceived result.
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