Marketing’s Dangerous Echo Chamber

Marketing echo chamber definedMarketing by echo chamber can kill your business.  Its not just small business owners who believe everyone thinks and acts just like them.  Marketing agencies can be swept away too.

Doug Garnett from Atomic Direct :

“far too many (business ad decisions) ad agency decisions are based on personal preference and neighborly anecdote. It also explains the ad biz obsession with digital – resulting in spending that far outpaces it’s effectiveness.”

An echo chamber is a place where you hear only your own voice coming back to you in a delayed fashion.  Generally, its a fun experience.  Maybe you can even remember the first time your heard that kind of an echo as a kid.  Harmless fun.

Death by Echo Chamber Marketing

When it comes to your marketing, the echo chamber will kill your business.  Entrepreneurs have the worst problem with echo chambers.  The business they created with their own hands, their own ideas, and their own sweat is endangered by the very skill set that enabled them to take the risk.

Here are a few symptoms of echo chamber Marketing.

  • Your revenue is stagnant or down
  • You only listen to pitches from people you know
  • You think everyone uses media like you
  • You are going to run the same promotions next year you did this year
  • You think you are the smartest person in the room

There are great local examples of echo chamber marketing in Billings.  Almost any purchase of time on either cable supplier is a definition of echo chamber.  Expecting a cable ad buy to make your business improve is akin to putting your life savings on 36 red and spinning the wheel.  The usage of cable is so low gambling might actually be more effective.

The Billings Gazette with a reach of only sightly more than 15% of all of Yellowstone County residents gets enormously overbought.  Its a great example of businesses and ad agencies stuck in what they think versus marketing realities.

It is echo chamber marketing at its best.

Should you Billings Echo Chamber marketing think this doesn’t apply to you or your business, take a look at this chart from the Media Behavior Institute.  This is a chart of how real people use media compared to how industry pros (ad agency people) use media.  The same chart looking at entrepreneurs instead of agency people would probably have similar scores.

Notice the huge disparity between the general population and people who do advertising for a living.  If you intend to win and grow your business, you must  focus on what real people do.

The echo chamber was fun when you were young.  Take a moment to see if you are still in that chamber.  It will kill your business.

Marketing-Right Place, Right Time

Billings marketing is about right place at the right timeMarketing your business is being in the right place at the right time.  It is why Google is running ads on websites all across their network right now.  The idea?  To push the feeling their ads are the only ones that work.  After all, when you appear in search you are in the right place at the right time.

It is also wrong.

It is undeniable people almost always use just the first page results when they do a search.  42% of searchers click on the first result they get believing in Google’s infallibility of getting them the best answer.

If marketing were that easy,you could be to buy Google Adwords and call it a day.

It is not.

New Marketing World

The internet has opened up a whole new world to businesses and customers.  The new connections you can make with your current customers and connections with people who have never heard of you is enormous.

People want to do business with companies they know and believe in.  That’s why using a good mix of advertising is the best way to improve your business. With so many choices, it is hard to decide what the right mix.

There are over 20 different ways to market your business in the Billings marketplace.  No one can afford to be in all places at all times.  The use of a professional to help you with your strategic plan is not difficult or costly if you make the right choice.

You could Google for one, of course, and take the first name on the list.

Partner in Marketing

Or you could look for a partner with a wide range of marketing skills including buying, planning, writing, and producing high quality performing advertising solutions. The partner would be experienced in TV, web, billboards, print, mobile media and radio among others. Now it would be great if that first Googled name had all those qualities, but if you did not know the first company, what then?

I know which one I would take.  And it probably isn’t using Google’s first result for something that important.  At least not without additional information.  That is why your marketing mix is so important.  You have to be known in ways additional to an online presence. Your potential customers think the same way.

Professional help for your website and your marketing is only a click away.

Billings Advertising Focus-Daily Deals

Billings Advertising Focus on Daily DealsBillings advertising comes in at least 20 different forms. Advertising a daily deal seems like an easy way to advertise in Billings.  The deals typically work like this.  The business agrees to discount their product by at least 50%.  There’s no direct out of pocket expense.  In exchange for the discount, they get advertising and sometimes get a check themselves while running Billings advertising.

What could be wrong with that?

Here’s a real life example.  Company “A” normally sells a nice dinner for $20 per plate, $40 for a couple.  They do a deal and offer it for $20–half off.  The consumer buys the deal.  The sponsor of the program (Groupon or others) advertising keeps $10. Company “A” gets $10 and a client who will definitely be stopping in the restaurant to redeem.  The business gives its dinner away for $5 per plate, a 75% discount to retail.  There are few restaurants who have a mark up that can cover that kind of loss.

Billings Advertising Daily Deals Mania

There are so many daily deal programs running Billings advertising, its hard to keep them all straight.  Living Social and Groupon are a couple of national companies trying to penetrate the local market. When I looked at these two sites today, there were no local advertisers to be found.  There’s 10 Billings Coupons which is a localized version of the 10 coupons group and operates a bit differently.  There’s Hop on It, Seize the Deal, the Half off deal, and numerous others all vying for your money as a business.

Consumers are starting to figure out these deals and avoiding them.  I’ve personally Billings advertising Daily Deals reviewexperienced buying these products only to find the business out of business when I went to use them.  Here’s another example:

Same thing happened to me today…I bought a pre-paid certificate for (removed) in Billings Montana & it went out of business & the business owner (removed) she is on FB) will not respond to me & now I cannot get a refund from her or from Seize the Deal!!! SO ETHICALLY WRONG!!! This IS considered stealing in most people’s eyes!!

 

Consumers Are Getting Smarter

Many businesses who buy these deals are struggling and they see this as a way to get advertising at no cost other than goods and services.  The problem is when the consumer gets burned like the one in the comment above from complaintsboard.com.

And its not just consumers.  One company recently claimed Groupon ran them out of business by holding onto a check that was due the business for 90 days.   It was the businesses share of a Groupon deal they had contracted.

Being in business means having unhappy customers from time to time.  Maybe the traffic driven by these type of deals is worth the deep discounts in product. Consumers have their guard up.

Should you do Billings advertising through these deals

If you are thinking about Daily Deals as a cheap form of advertising or one that is “trackable”, I would think again.  There are better ways to spend your time and money than getting remnant advertising in the media and diluting the value of your product.