Seth Godin - Everything You (probably) DON'T Know about Marketing

Name: Seth Godin - Everything You (probably) DON'T Know about Marketing
Uploaded: 2018-11-05T00:53:22.000Z
Duration: 1 h 32 min 35 s

What is a Brand?

In this section, the speaker talks about what it means to have a brand and how it differs from just having a logo.

Defining a Brand

A brand is a promise made to people with expectations.

Having a brand means that you've earned something distinct.

If your brand is not distinct, then you're just selling commodities.

The Value of a Brand

The value of a brand is how much extra people are willing to pay for it.

Companies like Hyatt and Hilton don't have brands, they only have logos.

Brands allow companies to charge more because they offer something unique.

The Marketing Seminar

In this section, the speaker talks about his marketing seminar and how it led him to write his book on marketing.

The Marketing Seminar

The speaker started the marketing seminar after giving free advice to people he cared about.

He watched people interact with his lessons and saw their work improve over time.

Writing the Book

After seeing the success of his seminar, he decided to turn it into a book for those who didn't want to commit as much time.

His book is his version of advertising if advertising had never existed before.

What is Marketing Really About?

In this section, the speaker talks about what marketing really is and how it's not just about social media or conversion rates.

The Path to Effective Marketing

The order of chapters in the book matters.

Begin by undoing the marketing of marketing.

Spend time on undoing the idea that marketing is selfish or a scam.

Marketers make change happen.

Defining Your Target Audience

Marketers decide who they are seeking to change.

Consider who your product/service is for and what it's for.

Don't make average stuff for average people.

Culture and Status

Culture defeats everything; changing culture is difficult.

Human beings make decisions based on status, which informs culture.

Affiliation versus dominance is becoming more prevalent.

Brand vs Direct Marketing

Brand and direct marketing are fundamentally different things.

The internet has made direct marketing more accessible.

Responsibility in Marketing

Is the work we do evil?

We each have a super powerful tool at our disposal - what will we do with it?

Take responsibility for the change you seek to make.

Overall, this talk emphasizes that effective marketing involves understanding your target audience, recognizing the power of culture and status, and taking responsibility for creating positive change.

Brand Marketing vs Advertising

In this section, the speaker discusses the difference between brand marketing and advertising.

Brand Marketing vs Advertising

Brand marketing is a pull strategy that draws people in with attention and trust, while advertising is a push strategy that aims to get a return on investment.

Direct marketing ads and brand ads are not differentiated by advertising. The key difference is that you can measure direct marketing but not brand marketing.

Direct marketing is measured marketing. If you can measure it, you're going to act differently because you can see what happened Tuesday and change what you do on Wednesday.

Brand marketing cannot be measured. It includes things like logos and commercials that tell the story of who you are.

Metrics of Brand Marketing vs Direct Marketing

The metrics of brand marketing aren't appropriate for direct marketing and vice versa. Measuring Facebook likes or YouTube views is a mistake because it's measuring the wrong thing for direct marketing.

Left to its own devices, direct marketing on the internet races to the bottom because it's just trying to get clicks from people dumb enough to pay something. We need to race to the top by using direct marketing when we should and brand marketing the rest of the time.

Direct Marketing vs Brand Marketing

In this section, the speakers discuss the differences between direct marketing and brand marketing. They talk about how direct marketing can be expensive and often misses the mark, while brand marketing is a slower process that focuses on building a company's reputation.

Direct Marketing

Direct marketing is expensive and sometimes misses the mark.

People are being trained to ignore direct marketing.

Direct marketing is like the hare in The Tortoise and the Hare story.

Brand Marketing

Brand marketing is a slower process that focuses on building a company's reputation.

Colin Kaepernick represents something that Nike stands for, which is why their brand marketing campaign featuring him was successful.

Nike's Colin Kaepernick Campaign

In this section, the speakers discuss Nike's controversial decision to feature Colin Kaepernick in their brand marketing campaign. They talk about how it was a risky move but ultimately paid off for Nike.

Nike's Decision to Feature Colin Kaepernick

The vast majority of Nike's future and present sales come from overseas markets.

Colin Kaepernick represents something that other sneaker companies have been afraid to stand for.

Featuring Colin Kaepernick was a risky move because it went into divisive political territory.

Despite the risk, featuring Colin Kaepernick was brilliant because it allowed Nike to stand for something with just two words.

Nike's Brand Marketing Strategy

Nike has been seeding the market from the beginning, starting with youth sports.

Nike is a disrupter in their industry and tries to do things differently.

Nike's decision to feature Colin Kaepernick was natural for them because it matched their brand DNA.

Introduction

In this section, the speakers introduce themselves and discuss what they will be talking about in the video.

Introductions

The speakers are Seth Godin and Tom Peters.

They are both marketing experts with years of experience in the field.

Topics Covered

The speakers will be discussing marketing and branding strategies that companies can use to succeed.

Nike's Branding Strategy

In this section, Seth Godin discusses Nike's branding strategy and how it targets early adopters of fashion.

Nike's Core Audience

Nike's core audience is not defined by demographics such as age or income but rather by their beliefs.

Psychographically, they are people who tend to be early adopters of fashion.

Making Money at the Front of the Curve

Nike makes money at the front of the curve by targeting early adopters who are playing with new ideas in the culture.

They do not make money at the end of the curve where their shoes are sold at Payless.

The Value of a Brand

Having a brand means making a promise to people and meeting their expectations.

A brand should be distinct from its competitors and offer something extra that justifies paying more for it.

Investing in Substance Over Wrapping

Companies should focus on substance over wrapping when building their brand.

Finding a smallest viable group that cares about your work and giving them work that matters is key to building a successful brand.

Boutique Hotels vs. Hyatt

Boutique hotels charge more than Hyatt but offer an experience that appeals to people who care about what others look like in the lobby or how hip it feels to walk into the bar.

These hotels invest in throwing parties and creating an atmosphere rather than just offering basic amenities like power outlets.

Understanding Psychographics

In this section, the speaker talks about how marketers should focus on psychographics rather than demographics to understand their audience.

Psychographics vs. Demographics

Psychographics are more important than demographics in understanding your audience.

Every zip code has people of almost every psychographic perception.

Brand marketers need to understand that their product is for some people and not for others.

Data Collection

Search engines and social media websites collect data on users' preferences and interests.

Properly collected data can help brands personalize their marketing efforts and make customers happy.

Empathy in Marketing

Marketers need empathy for the people they are seeking to serve.

Start with people who believe what you believe and want what you want when building a brand.

Inventing products based on personal experience can be successful, as seen with the Hero camera.

The Importance of Storytelling in Marketing

In this section, the speaker discusses how storytelling can be used effectively in marketing.

The Power of Storytelling

Storytelling is an effective way to connect with customers emotionally.

A good story can create a sense of belonging among customers and build brand loyalty.

Elements of a Good Story

A good story needs a clear message or moral that resonates with the audience.

Characters should be relatable and have identifiable traits that align with the brand's values.

The story should be told in a way that is engaging and memorable.

Examples of Effective Storytelling

Nike's "Just Do It" campaign is an example of effective storytelling that resonates with customers.

Apple's "Think Different" campaign is another example of effective storytelling that aligns with the brand's values.

Building a Personal Brand

In this section, the speaker talks about how individuals can build their personal brand.

Defining Your Personal Brand

A personal brand is what people say about you when you're not in the room.

To define your personal brand, start by identifying your unique strengths and values.

Building Your Personal Brand

Consistency is key when building a personal brand.

Use social media to showcase your expertise and connect with others in your industry.

Networking and collaborating with others can help build your personal brand.

Understanding the Feeling

In this section, Seth Godin talks about how marketers can learn a lot by noticing and understanding the feeling behind why people do certain things. He emphasizes that marketers should make an assertion based on their understanding of this feeling and present it to their target audience.

Learning from Observation

Marketers can learn a lot by observing why people do certain things.

People may be doing different things, but they may have something in common - a feeling.

The job of marketers is to suss out that feeling and make an assertion based on it.

Importance of Empathy

To create products for someone else's need, marketers need to gain empathy and imagine what it is like to be in their shoes.

You don't have to be part of a particular group to create products for them; you just need to be empathic.

Mission Driven Companies

In this section, Seth Godin discusses mission-driven companies and how they are becoming more popular. He talks about the importance of having a purpose-driven company and how it can benefit both the company and its customers.

Purpose Driven Companies

Mission-driven or purpose-driven companies are becoming more popular.

Having a purpose-driven company can benefit both the company and its customers.

It is important for companies to think about whether they should reframe or reposition themselves as mission-driven or purpose-driven.

The Importance of Mission-Driven Organizations

In this section, the speaker discusses the importance of having a mission-driven organization and how it should be consistent throughout the company's growth.

Consistency in Mission

A mission-driven organization seeks to make change and has a specific group of people they want to impact.

The mission should remain consistent through thick and thin, even if the medium changes.

The focus should be on changing the people who align with the mission, not trying to change everyone.

Examples of Mission-Driven Companies

Blake Mycoskie wanted TOMS Shoes to have a positive impact on the world while still making money.

TOMS Shoes expanded their product line beyond shoes but kept their mission consistent.

Warby Parker sells glasses at an affordable price point while also giving back to those in need.

Warby Parker limits their product offerings to create a sense of exclusivity for their customers.

Innovative Marketing Strategies

Warby Parker used a school bus outfitted as a store to test retail locations before opening brick-and-mortar stores.

Warby Parker limits their product offerings to appeal to fashion-forward shoppers who want limited choices.

Bet on Repeat Customers

In this section, the speaker discusses how companies can bet on repeat customers by appealing to their desire for new products that align with their values.

Creating Repeat Customers

Warby Parker bets on selling new glasses every three to six months by limiting their product offerings and appealing to fashion-forward shoppers.

Warby Parker's Story

In this section, the speakers discuss how Warby Parker's story resonates with their target audience and how they prioritize user experience.

User Experience and Convenience

Warby Parker uses a user experience company to create one of the smoothest user experiences on the web.

The company has a quick and convenient process for purchasing glasses online.

They have a customer service return policy similar to Zappos or Amazon.

Marketing Strategies

White Space in Marketing

Marketers need to focus on what they are missing in marketing, such as white space.

Attention used to be cheap, but now it is expensive. Therefore, marketers need to market with customers instead of at them.

Customer-Centric Approach

Companies should not come at customers with a briefcase full of products. Instead, they should focus on solving the customer's problem.

The goal should not be everyone; it should be someone.

Impact on Marketing Channels

Personal Experience

Seth Godin decided he did not want more than what he had seen from Tom Peters' career.

He focused on creating content that was meaningful and impactful for his audience through his blog, podcast, books, and seminars.

Building a Brand with True Fans

In this section, Seth Godin talks about the importance of building a brand with true fans and staying true to your values.

The Smallest Viable Audience

Seth stumbled upon the idea of the smallest viable audience, which led to his successful program, altMBA.

The altMBA has had 3,000 graduates, making it many times bigger than Stanford Business School but not as big as other programs.

Seth emphasizes that he focuses on making things better for his true fans rather than trying to reach more people.

Staying True to Your Values

Seth advises against leveling up on staff or spending and instead putting all resources into making things better for true fans.

To build a brand with true fans, you need to be clear about who it's for and what it's for. Don't use other people's metrics to do your work.

Finding Your Compass

To find your compass in building a brand, you need to tell yourself the truth about your goals and values.

Get clear about who your brand is for and what it's for. Howard Schultz was clear that he wanted all of America to drink better coffee.

It's possible to build a successful brand without being as big as Starbucks by focusing on making something better for people who want it.

Consistency and Brand Marketing

In this section, Seth Godin talks about the importance of consistency in business and how it can lead to success. He also emphasizes the need for businesses to be true to their values and make value-based decisions.

The Importance of Consistency

Being consistent is crucial in business.

Compromising on quality or values can lead to a decline in the quality of products or services.

Making value-based decisions is important for businesses.

Being True to Your Values

Businesses need to be clear about what they want and what they stand for.

Value-based decisions are not necessarily altruistic but should be true to some people.

Building an important new brand requires being obsessed with making good stuff, not lousy stuff.

Traditional Publishing and Book Covers

In this section, Seth Godin talks about his return to traditional publishing and why he chose Penguin Portfolio as his publisher. He also mentions that he created 19 extra covers for his book.

Return to Traditional Publishing

Seth Godin returns to traditional publishing because he needed a team of people who would do justice in publishing his book.

Penguin Portfolio was chosen as the publisher because they were the best people for the job.

Extra Book Covers

Seth Godin created 19 extra covers for his book.

The extra covers are a secret and will be revealed after the book comes out.

Creating Scarcity

In this section, Seth Godin talks about creating scarcity and how it can add value to a product. He also discusses his experience of creating custom covers for his book.

Creating Scarcity

Seth Godin explains that scarcity creates value.

He shares his experience of making custom covers for his book and how it made him feel emotionally connected to the work.

As a marketer, he believes that willingly dancing with tension is necessary to create scarcity.

Scarcity creates value and lets the creator off the hook from infinity.

Personal Aspirations

The interviewer asks Seth about his personal aspirations and dreams.

Seth explains that he won the dream and aspiration lottery a long time ago, so if he wanted to live in Italy, he could.

Starting a Software Company

In this section, the speaker talks about his occasional desire to start a software company and how he sees niches in the market. However, he prefers to call CEOs of public companies instead.

Considering Starting a Company

The speaker occasionally thinks about starting a significant entity like a software company.

He sees niches in the market but prefers to call CEOs of public companies instead of starting his own.

Being a Teacher and Helping Others

In this section, the speaker talks about his desire to be a teacher and help people turn on lights. He believes that helping others is always in service and can make the world a better place.

Helping Others

The speaker wants to be a teacher who helps turn on lights for people.

He believes that helping people see things they can't unsee is always in service.

His goal is to make the world better by making it more livable for himself and his kids.

The positive cycle of making the world better is what makes culture matter.

Continuing Current Work

In this section, the speaker talks about continuing with his current work despite having completed everything he was supposed to do for his publisher. He enjoys working with his team and trusts them.

Continuing Current Work

The speaker has completed everything he was supposed to do for his publisher and is off the hook.

He enjoys working with his team from 40 countries on various projects.

It would be hard for him to stop doing what he is currently doing.

He has given up airplanes and now only takes one flight per month.