Here we are this week with Mr. Awaken-Your-Superhero Penn. Christopher S. Penn is hanging out with us, talking all things marketing- what it is, where it’s going, and how we can deeply understand it. Marketing is a huge part of our world; if you’re listening to this podcast, chances are you understand this. But, have you stopped to think about how marketing has changed? How it has remained the same? In this episode, we’re talking about this and more. You’ll hear about what the best marketers do- how they position themselves, how they understand the landscape in which they work, and how they analyze information to understand how to beat their competitors. We’re living in a new marketing age; knowing how to make yourself stand out is essential. Learn tips and tricks for becoming the Marketing Professional of your dreams. Listen below, let us know what you think.
Running time: 59:25
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Tell us a little bit about what shaped your approach to marketing. (8:40)
By nature or background, I am not a marketing person. My expertise was in Information Systems. Ultimately, how I got into the marketing world was a by-product of working in technology. In the early 2000s, I worked at a financial services start-up as the Chief Information Officer. Over time, my responsibilities naturally become more and more market-oriented.
Most of the way I learned to think about these problems comes from my background in martial arts, which I have been practicing for more than 25 years. The mindset, strategies, and ideas that come from this situation, a situation that you want to win. In martial arts, you’re fighting for your life or for victory. In a marketing stand-point, you’re fighting for better business. And the person who wins has better organization, is tougher and stronger, and works unconventionally.
What is the current state of the marketing world? How do you apply your knowledge og it to be successful? (11:28)
As humans and as marketers, we have access to more information that we ever could have imagined. The mindset required here is to know your competitor- what do they have to offer and what do you need to possess and do in order to beat them. Additionally, what do you need to know about your influence and your audience, and the relationship between the two?
Can you use all the current available tools to forecast the landscape in which you are working? How can you position yourself to win understanding all of these things?
What has changed in terms of the marketing world? (16:37)
Marketing requires a balance between people, platform, and process.
A lot of the technology we are working in and with today in our current landscape has existed in the past in previous landscapes, whether physically or theoretically. History continues to repeat itself.
Whats new is our ability to use these things as a practical skill. These technologies are changing how we work within and think about the world, but many of these fields are and have been constant throughout history.
What do you think about humans changing the field of technology? (22:54)
The macro doesn’t change. For example, every business CEO wants better, faster, cheaper for their product or service. Every consumer for the most part also wants better, faster, cheaper. However, how we fulfill these things are what we need to adapt to. Living in this instant gratification type of world, we have drastically diminished the amount of patience have. Ultimately, our expectations of technology has changed. But what we WANT hasn’t changed.
What are some problems with social media and its relevance to marketing? (26:04)
There is absolutely a problem with data research when it comes to social media. Only using social media extremely limits the accuracy of your data. Social media is a good for qualitative data- understanding what pressing topics are, what people think about things, etc. But it doesn’t stop there.
Your market-driven research needs to be quantitative, in order to represent a sample of the population to truly understand what the statistics are. Only using social media for data is the easy way out, and it totally ignores true data. Ultimately, the two should be used together in order to really have a clear grasp on what you are researching.
So, what’s the future of technology and marketing? (30:27)
Social media…it’s not going away any time soon. Really any platform that is extremely popular today will probably continue to remain popular because of the sheer number of users currently on them.
Changes in behavior in terms of how these platforms are used, that’s another thing.
Going off of that, fragmentation of data and data availability is also changing.
Conversations are moving into private domains. There’s so many apps that are extremely popular today that demonstrate this. We can have more conversations, in more places.
How can we use the changing technology landscape to our advantage? (32:34)
- You have to have your own captured audience (email service, Facebook group, texting service. Do you have the direct ability to reach your audience in an unfiltered way?(Note: If you don’t have a good grasp on email marketing, GET ONE!!!)
- You have to be good at primary research (surveys, marketing research.) This is necessary in order to compensate for the fragmented data usually provided by social media on its own.
How can we be the best possible marketer? (34:22)
- Take a course in statistics. Understand the numbers you will be looking at. This is essential.
- Take a market research course. There is so much free, high-quality information out there. Use it.
Side note: Marketers should probably not be data scientists, unless it honestly feels like their aspiration. The two are very different professions; keep this in mind.
How does influencer marketing work its way into everything we’re talking about? (44:03)
Influencer marketing has some of the worst analytics in the entirety of marketing, simply because no one is accurately working with the data. We can think of influencer marketing in three levels.
- Broadcast Influencer- Large following, large amount of publicity. They influence a large audience just by sharing your brand. Often used for spreading brand awareness.
- Hub Influencer- Hub of personal network. Everyone knows them, although they may not actively share on social media. There is a short travel distance between them and their networks, while also being two or three degrees away from everyone. Often used for more of a nurture relationship for your brand, helping with sales enablement.
- Authority Influencer-They may not do much talking themselves, but people are always talking about them and listening to what they have to say when they do decide to speak. Often use for sale authority.
You can see patterns in data using these three different types of influencers. You can choose influencers based on what level seems to work best with your business and that are aligned with your goals.
One Book Everyone Should Read. (52:11)
Favorite Podcast. (52:23)
Something Everyone Should Watch. (52:49)
Watch round-up clicks from the TV show “The Voice.” And not just the American version. It allows you to look into other cultures.
Christopher recommends watching one from Ukraine; try this one.
One App Everyone Should Download. (52:03)
If you love Stats, this is one of the best programs out there.
One Piece of Advice you Wish you Learned Earlier in your Career. (54:26)
Most important skill of the future. (54:33)
One thing everyone should do today. (55:23)
Take a statistics course from MIT (for free, we might add!!!)
CONNECT WITH CHRISTOPHER
CONNECT WITH JEFF
- Email Jeff
- @JGibbard on Twitter
- Jeff on Facebook
- Jeff on Linkedin (make sure to introduce yourself)
- Jeff on Instagram
- Jeff on Snapchat
SPECIAL THANKS TO
Ray, our Audio Engineer.
Thanks for cleaning up our voices and adding all that sexy production value.
Maria, our Intern.
Thanks for providing the show notes for today’s episode.