20 docs tagged with "marketing"

Why some stories managed to spread quickly, live long and prosper? In Made to Stick, Heath brothers summarize six elements to create sticky ideas -- Simple, Unexpected, Concrete, Credible, Emotional, and Story, SUCCES for short.

Copywriting plays an increasingly important role in today's marketing world. In the book "Persuasive Copywriting," Andy Maslen introduces several key strategies to enhance your copywriting skills.

People hate new changes in a product they are already familiar with. To avoid change aversion, you can let users understand in advance and afterward, allow them to switch, ask them to give feedback, and finally remember to follow-through.

Advertising is a business that monetizes attention. The forms of advertising have evolved with time including informational notices on newspapers, radio and televisions, emails and the Internet. However, the ultimate goal behind never changes — to draw attention and sell.

The forms of advertising have evolved over time: from notices in newspapers to radio and television, and then to emails and the internet. However, its fundamental purpose remains unchanged: to attract attention and successfully sell products.

Copywriting is the simplest and most direct way of impressing your customers. Persuasive copywriting = three means of persuasion + copywriting. Three means of persuasion are emotion, logic, and credibility.

How does your product gain popularity? Answers from the model, the chasm, and the math.

To achieve a higher ROI in advertising, Lyft launched a marketing automation platform, which consists of three main components: lifetime value forecaster, budget allocator, and bidders.

How can advertising campaigns achieve higher returns with less money and fewer people? Lyft's answer is automation, which includes an LTV prediction module, a budget allocation module, and a delivery module. When people are freed from tedious delivery tasks and can focus on understanding users, channels, and the messages they need to convey to their audience, they can achieve better campaign results.

Data Domain is a data backup service provider that went public in its sixth year after founding and was acquired by EMC two years later, becoming EMC's second fastest-growing business after VMWare. The CEO of Data Domain shares the story and logic behind this in the book "Tape Sucks," which may be the best SaaS book I've read in recent years.

What are CAC, LTV, and PBP in marketing? CAC (Customer Acquisition Cost), LTV (Customer Lifetime Value), PBP (Payback Period). The LTV:CAC ratio helps you determine how much you should spend to acquire a customer for sustainable growth.

Customer Acquisition Cost is the cost to convert a customer to buy a product/service. Lifetime Value is the estimated net profit we can make from a customer. Payback Period refers to the period of time required to recoup the funds expended in an investment.

The marketing landscapes of the West and China are vastly different. If Western marketers want to adapt, they need to learn to: build good relationships with major companies like BAT; prioritize mobile; value KOL marketing; focus on content marketing; manage multiple channels in the West while navigating large companies' multi-platforms in China; and balance "thoughtful planning" with "plans not keeping up with changes."

If two people buy the same product for the same reason but have no way they could reference each other, they are not part of the same market.

Is the innovation disruptive?

High-tech companies often introduce disruptive innovations. The user growth of these products follows an S-curve. Developing a high-tech market means smoothly transitioning this cycle from left to right, breaking through one user group at a time. Leveraging the momentum of the left-side user group makes it easier to market products to the right-side user group. Observing the technology adoption lifecycle reveals two chasms and one gap.

The definition of a high-tech market: existing and potential users; who have a demand for a certain type of product or service; and these individuals reference each other when deciding on the products to purchase. Mutual referencing is the key to market success.

To better sell products, you need to know your customers better. A generic buyer profile doesn’t help in knowing his buying decision. The most effective way to build buyer personas is to interview buyers who have weighed their options but finally made the decision you expect.

KYC is not easy; employees outside the marketing department may never have the opportunity to understand buyers' needs. Buyer persona = buyer profile (who will buy) + buyer insights (when/how/why they buy)

If the goal is to take over the mainstream market, why should we focus on the niche market in the beginning? First, You have to satisfy your customers so that they can be reference-able to others. Second, pragmatists favor market leaders. So be a big fish in a small pond.