Since my mother remembers the days before television, and when telephone lines were shared across multiple households, I figured she could provide a good representation of “old school” thinking about marketing. I asked her a very specific question as follows: “If you were going to market a business, where would you focus your efforts?” She did not even ask me what kind of business before she replied “On the Internet.” I asked her, “Why do you think that some businesses still don’t think that way?” She said “I think they do, don’t they?” I told her that overall market spending spend says yes, but that I still find some companies marketing as “usual” … as if it is 2007. I wanted her opinion of why this could be the case. She said something that I have thought many times, and her reply was “It is foreign to them, and they probably just don’t understand how it can work for them.”
Thanks Mom!
The Monsters Disappear When You Turn on the Lights
Now do you agree with my Baby Boomer age mother? Nod yes. Most people agree that the Internet is the way to go for marketing. It is the most measurable venue for marketing of all, but I sometimes wonder if people realize that fact. The Internet provides enough data that marketing efforts can be accounted for down to every “click” and every dollar. You simply must look at enough data to create statistical significance. Anybody who does not grasp the value of measurements in marketing probably just does not understand it, and may be just a little bit scared. It seems that Internet marketing comes with a fear that many people have a hard time overcoming. The fear can be proven irrational using facts, but some people are just too stubborn to pay attention long enough to learn. They hear it, and they think it, but until they take the time to know the facts, they don’t fully believe it. I think of it like a kid with a bad dream when you turn on the lights, all the monsters disappear.
Many people want to achieve huge success before they actually make a reasonable and well calculated effort toward online marketing. They can read case studies of how others have done it, even in their industry, but as soon as the lights go out, they see monsters again.
Marketing Like a Goldfish in a Shark Tank
Fear and disbelief are big reasons that most companies using the Internet for marketing are doing it terribly unsuccessfully. They want to dip their toe in the water and test it out with a goldfish sized budget. What nobody tells them is that there are sharks in that water. If you don’t swim like a shark, you are likely to be “bitten” and fail miserably. The sad result for many business people is that once they are bitten, they will blame the water or the sharks, but they seldom ever blame the real culprit … themselves!
The alternative to having a shark budget is to shrink the tank using a more focused and creative marketing approach. It requires significant marketing talent to create success, even with a shark budget, but talent is even more important with a goldfish budget. In every case, it still requires more than a toe in the water to avoid the shark bite of an unsuccessful marketing attempt.
Bolstering the fears associated with Internet marketing is the fact that most Internet marketers (SEO, SEM, SMM, Guru, Expert, Maven, Evangelist, et. Al.) really stink at their job. It should also be noted that even the good ones will suffer if they have a client who bucks them at every turn, already knows it all, or asks them to jump through flaming hoops with a goldfish budget in a shark tank. Of course, successful marketers will usually not put themselves in this position. We understand the numbers, and we know that the chance of failure due to under-marketing is statistically significant.
We have surely all seen the overwhelming data, or at least heard a huge frenzy about newspapers, television, radio, and telephone book advertising sales each dropping like lead balloons. There is a reason for this, and the reason is that the Internet is far more effective. Still, I find it shocking to witness companies that have not shifted their efforts and their budget where it can make an impact.
I went on talking with my mother and we discussed business marketing budgets. I was curious why a company spending “x” dollars on ineffective marketing will often try to take a small fraction of that same amount of money to market on the Internet. I asked whether, as they shift their efforts, if it made sense for them to plan to spend less money and effort in the place it could really work. I asked her “If you were going to budget efforts between television, newspapers, phone books, and Internet, which one would get the biggest portion?” Without regard for industry, she said “the Internet, because you can reach anybody there”, and she was right. Of course, she did not have the fear that I was going to sell her something. She could be honest with me about what most people already know, but are afraid to address.