07/02/13

Reboot Your Business Mitch Joel-Style

On the surface, modern marketing seems pretty simple. Everything is going digital and the only way to compete with your competitors is with the latest technology, one being the explosion of social media. Although everyone is doing it, you just have to be better than the next guy. However, if you are not staying up to date with technology, you’ll be trapped in what Mitch Joel calls “Purgatory.”

Ctrl Alt Delete - Mitch JoelPurgatory is an awkward place when you can see that the most effective marketing methods are changing but you aren’t. Mitch Joel explains that this can be still be an opportunity because once you know things are changing, you and your company can change as well. The “what to do” seems simple, but the “how to do” is the tricky part.

At the recent Cadre #RebootEvent, Mitch Joel spoke about two types of information involved with marketing: Linear and Circular. Linear information is when you give the potential customer information directly and as a result they want to pursue more. Circular information is something you can’t create or initiate because the consumer can only create it willingly. Let them come to you.

When you are capturing the information about your consumers, from surveys, customer feedback, or whatever you need to be careful of what means, how to use it, and what to do with it so you can customize your brand accordingly. Information is power and you should always use it to your advantage. You collect your own private knowledge, which as a resource is valuable and rare.

Going back to technology, social media isn’t the only one becoming a game changer in today’s markets. The Mobile apps market is a new space helping your business expand.

25% of brands have a mobile strategy, there are over 1,400,000 available for download, and the projected Mobile Ad revenue forecast for 2014 is estimated around $3.5 billion.

That’s a lot of apps and there’s a lot of money in that market.

25% of the apps are downloaded and used once, 50% of the apps are downloaded and never used, and the rest are really amazing and used all the time.

Two of the apps Mitch Joel talked about:
- Sit or Squat: which gives you the closest clean bathrooms
- The Dishtip: which allows you to know where the best dishes are, not just the best restaurants.

These apps aren’t just fun apps, they’re usable and created by companies who think outside the box. Sit or Squat was created by Charmin as a way for their customers to know they care about their bottoms. Not your typical “marketing” ploy, just something usable that keeps their name in front of their customers. Brilliant!

As time goes on, it’s only natural that marketing will change again. But if we get lost in the past it will be increasingly harder to catch up. Let’s look at some of the hardware that is changing marketing. Notice how I didn’t have to explain what I meant by “hardware.” You knew I meant smartphones, tablets, computers, and other must-have products. That’s pretty powerful.

Anyone who has one of these devices knows that they can’t function in today’s world without them. People depend on them for everything. Email, social media, GPS, calendars, all of this in a single device you can take with you anywhere. Some people even use their phone to tell them when they need to go to sleep! This creates a huge market that mobile app developers are taking advantage of to sell their product and provide advertisement for either their own company or the companies that sponsor them. While the explosion of the number of mobile apps available is rapidly growing, it is still early in the game and your company still has time to catch up.

With all this change in the today’s market happening right now, you now have the opportunity to grow your business like never before. Thanks to great people like Mitch Joel who stay on the edge of marketing and provide great information for keeping your business on the edge. Check out his book: CTRL ALT DELETE