Today, the web is flooded with content. Recognizing and expanding sustainable competitive advantage could easily be considered one of the most challenging activities for a new business venture. The process can often be extremely challenging for the regular small business owner, as the journey can often be both time-consuming as well as difficult. Developing competitive advantage can be especially demanding for new emerging businesses operating in industries where several other busine ....Read More
The most precious commodity in the world is the time and attention of your target audience. It’s more valuable than gold and harder to strike than oil. Why is it so dang hard to get?
We live in a post-broadcast world. Every person can customize their television experience, their music, their news, their sandwiches, their shopping and more. It’s truly not a one-size-fits-all environment. Your audience is now conditioned to get what they want, when they want it and avoid any friction along the way.
The tradeoff for all that customization is that business owners now have a long list of highly targeted advertising options to reach their audience. From your desktop, you could order up an aggressive Facebook marketing campaign to reach left-handed accountants in Dallas that enjoy the Kardashians and Starbucks.
As customizing the customer experience has led to terrific target marketing, it has also driven up the cost of a very valuable item: the attention of your customer. In virtually no setting does your customer need to wait through something they don’t want to get something they do. That means, you can target the right person as much as you like but you’re still hoping they have an interest in what you’re going to say. And if they don’t have an interest, they are not going to listen to your ad, watch your video or hear your sales pitch.
So, how to do you capture these precious moments of attention and truly deliver the answer to the question “what’s in it for me” from the customer?
Here’s an example that might illustrate the opportunity: Let’s say you’re a travel agent and you’re targeting Women 35-54 in a certain part of town. And, let’s say the shared experience you select is back to school. When you pick your shared experience, you need to think about it from your audience’s point of view. As a husband of a lovely mother of two kids, the back to school day is a liberation of some responsibilities and a break from the long summer. She’s hungry for a little “me-time.” With that perspective in mind, you simply infuse your product into a promotion or event to get their time and attention. Using your social media reach, your database and a few partners, you could create a “Back to School Relaxation Retreat” starting at 8:30 AM on the first-day school is in session. You invite women to come to a brunch restaurant for a delicious breakfast, a mimosa and some “me-time.”
Notice what we didn’t say: travel. No problem. They are invited by a travel agent; they know you are hosting and coordinating the event and you can ask in several ways what they’re interested in as far as travel. You could ask what their dream destination is on the registration form. You can do a 3-minute talk after everyone places their order about second honeymoons or all-inclusive, relaxing destinations. You can also give out brochures and small bottles of sunscreen with your name on it. In other words, you’re creating an event that is all about your audience hosted by you. Not an event all about you that you hope to find an audience.
Think about that for a moment. How many times have you heard your colleagues host a “cruise night” event and beg people to come? Hosting an event about your audience empowers you to be the organizer and host and then earn the opportunity to share your messaging.
This key distinction underscores the power our target audience has today.
It’s about them. It’s about THEM. IT’S ABOUT THEM
Events, promotions, campaigns, content, sales and more can all be created around the cultural events our audience shares and the cultural events your product provides.
They’re fun, they’re easy to do and they work.
If you’d like to explore how experiential marketing can work for your business, let’s get together for a free coaching call. I couldn’t be more excited to bring my 20+ years of marketing and management experience in the radio industry to eWomenNetwork so I can play a small role in helping you engage your customers and reach your 1MW1M$ goal.
Remember, in 2020 make sure to #UseYourCalls with me or any of the amazing Premier Success Coaches. This team is dynamite, and we are primed to give to you and your business success.
Stand out and Sell,