Marketing 101 - Adam Erhart Flashcards
https://www.youtube.com/watch?v=b8oP6oeJ5WM
? first, logic later!
People make buying decisions based on Emotions first, then logics.
Emotions first, logic later!
People make buying decisions based on Emotions first, then logics.
The Direct Response Hierarchy:
Success of a marketing campaign boils down to:
40% LIST (list of targeted customers)
40% OFFER ( irresistible offer, e.g. good price)
20% COPY/ CREATIVITY (e.g. the design of the banners)
The Direct Response Hierarchy:
Success of a marketing campaign boils down to:
40% LIST (list of targeted customers)
40% OFFER ( irresistible offer, e.g. good price)
20% COPY/ CREATIVITY (e.g. the design of the banners)
Prioritise ? over TACTICS:
e.g. focus on the marketing strategy first rather than the unimportant details like fonts, color of the website.
Prioritise STRATEGY over TACTICS:
e.g. focus on the marketing strategy first rather than the unimportant details like fonts, color of the website.
“80/20 rule” also applies for marketing:
80% of the results comes from 20% of the efforts.
You don’t need to be everywhere and do everything. You just need to be in a few places that deliver most of the results.
“80/20 rule” also applies for marketing:
80% of the results comes from 20% of the efforts.
You don’t need to be everywhere and do everything. You just need to be in a few places that deliver most of the results.
? is a good thing!
When competitors exist, that means there’s a ?.
Competition is a good thing!
When competitors exist, that means there’s a demand.
? is better than better!!
You need to be different to stand out in a crowded marketplace.
If your unique selling point is that you provide better service/ higher quality/ faster delivery, then these are not good differentiates bec all of ur competitors are saying the same thing. & when customers can’t tell the difference, they are forced to make buying decisions based on ? alone. & competing on price is a ?-? situation!
Different is better than better!!
You need to be different to stand out in a crowded marketplace.
If your unique selling point is that you provide better service/ higher quality/ faster delivery, then these are not good differentiates bec all of ur competitors are saying the same thing. & when customers can’t tell the difference, they are forced to make buying decisions based on price alone. & competing on price is a lose-lose situation!
Marketing is ALL about the ?!
Marketing is ALL about the customers!
Customers don’t buy when they understand what u do, but rather they buy bec they feel understood by u.
The magic formula: LCV > CAC!!
Lifetime customer value > Customer acquisition cost
The magic formula: LCV > CAC!!
(Lifetime customer value > Customer acquisition cost)
This can be used to determine whether a marketing channel is good and worth for us to continue investing in.
Branding is powerful!!
Be consistent with the messages u put out.
Building a personal brand is a bit easier but a business brand gives u more ? and ?.
Branding is powerful!!
Be consistent with the messages u put out.
Building a personal brand is a bit easier but a business brand gives u more scale and opportunity.
Marketing is more ART than SCIENCE.
Marketing is more ART than SCIENCE.
