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The Profit Center

The Physics Of Marketing

Posted by Phil Wiseman on Feb 19, 2019 2:21:06 PM

the physics of marketing_analytics that profit

Newton's first law states that an object at rest will remain at rest unless acted on by an external force. This is commonly referred to as the Law of Inertia.

Force=mass x acceleration

 

The Physics of Marketing_Analytics that Profit

 

 

the physics of marketing_analytics that profitAnother fundamental rule of physics is that opposite poles of a magnet attract each other. You have probably seen the science experiment where the same poles of a magnet push each other away and when you reverse one magnet they are attracted to each other.

 

However, when it comes to marketing some people want to ignore the Laws of Physics thinking they don't apply to marketing. We totally get it. Maybe you didn't like science class or maybe you think only psychology applies to marketing. 

What do we mean by this?

🔎 Seeing something your competitor is doing and assume it is working.

🔎 Believing if you do more of something it will work.

 

You see something your competitor is doing and assume it is working.

This is a common problem for many businesses. You like the look and feel of something you see posted by a competitor and the implication is it will work for you. Being popular makes it more popular. You produce similar content and it shows up in search engine results. You now have popular high ranking content. How does this happen? The use of proper SEO allows for better ranking in search engines  it appears higher in search results. A dogpile effect then occurs. A popular post topic becomes more popular because more people produce content on that topic.

schedule a time to talk_analytics that profit

The real question is did you get more customers?

 Maybe it is time to be the opposing force.

In a vast sea of sameness, how do you stand out? You don't!

You repel potential customers.

Instead of selling the same product or service in the same way, tell the story of why.

Why do you do what you do?

What lead you to your service offerings?

How are you different?

Tell your story!

 

 ideal customer identification analytics that profit

 

Believing if you do more of something it will work.

There actually is some science behind this idea. In statistics, the law of large numbers shows that if you do enough of something the outcome will converge on the theoretical outcome. If you toss a coin enough times you will get an even number of Heads to Tails. From this you can infer that by doing more of something will get you more results. If you have unlimited resources this approach can eventually work for you. The problem is most businesses do not have unlimited resources.

In fact, most companies we work with have a finite amount of resources and are looking for a definite Return On Investment from those resources. A more effective approach is to focus content around Buyer Personas to connect with your ideal customer. A study featured by HubSpot showed a 202% increase in conversions with personalized Call To Actions. Work on creating content that resonates with your ideal customer and when you have refined that content to generate high converting traffic, then focus on increasing traffic to that content.

It is very easy to get caught up in all the marketing hype you see on the internet. Everyone has the magic that will fix all your problems. Don't get caught up in the euphoria. Before trying 20 different things, step back and decide what is most important to your business. Select one clear objective that is easy for everyone to understand.

√ Clearly define what success looks like.

√ Define a specific metric that measures that success.

√ Set a defined time to measure.

√ Analyze the data to see if you have succeeded.

If you have met your goal, then work on improving another area. If you did not meet your goal, determine what needs to be changed. Doing more of the same will not change your results.

SMART Marketing Goals Template

Topics: Effective Marketing, small business marketing, Herd Of Nerds