The 3 R’s of Marketing: Recognition + Repetition = Revenue
This is the first post I promised Arianna Huffington @ariannahuff after we bantered back and forth during a conference in Washington D.C.
Call it a Rule or a Law but it has been working since the time of the Pharaohs:
Recognition + Repetition = Revenue
Recognition – back in the days of Mad Men it was easy, buy a spot on The Ed Sullivan Show and Bonanza and you could reach just about everybody with disposable income. Now there are billions of websites, hundreds of TV channels and everyone is a broadcaster through multiple social media networks. So how do you get the Recognition?
During the @Vocus #Demand13 conference it became more and more clear that the lines between Public Relations, social media networks, journalism, blogs and customer service are blurring. You can get recognition from a great review for your great product from a trusted source on their blog or from a bad review about your poor service that goes viral because you didn’t address it on your customer service hot line in the first place – either way you get recognition. You only want positive messages of your product/service reaching the masses? Well, not everyone can buy a 30 second spot during the Super Bowl or The Oscars to get their product or service in front of the masses in a positive light.
You now have to engage in an Omni-channel “Ontegrated Marketing” approach. Ontegrated Marketing is the integration of all possible online channels with all possible offline channels. Because your potential customers are so fragmented you have to be out there where they are looking or listening when they are looking or listening – and there is no telling when or where that will be. You’ve got to do a little bit of everything all the time. Everyone in your company can be a broadcaster of your message and you can widen your reach and circle of influence.
Repetition – Shotgun to Sniper. Think of every possible channel of communication as a pellet in your shotgun shell. The more pellets and the wider the pattern increase the likelihood of a hit. Once your analytics show reaction and action to your message, begin your repetition. Studies have shown that over 80% of people will have forgotten your message after only two weeks – understandable because we are hit with thousands of messages daily.
This is why companies are trying so hard to engage evangelical customers to continue spreading their message – civilian public relations. With corporate public relations you can’t buy the kind of legitimacy and endorsement that you receive from a positive news story from a respected journalist. Rarely can you drive in a nail with one hit, multiple strikes with the media hammer will nail your message to your customers.
Revenue – ask your Board of Directors or CEO, this is what they want their Marketing Department to generate. NOTE to CEOs – if your Marketing Department does not fail every so often, they are not trying hard enough. You want your Marketing Department to try new things and fail, because, just like Zig Zigler said, “Every no gets you closer to a YES!”