Hi everyone, I just want to give you another video based on the four P's. So this video here is going to talk about the media in relation to the promotions of the four P's. So if you think of product, place, price, and promotions, promotions basically means communication.
And in this short video here, I'm going to talk about choosing the different types of media and how it's related to the promotions of the four P's. So let's begin. The first thing you want to think about is where are your customers, when are your customers, and how are you going to reach them?
So where, when, and how. Again, that's where are your customers, when are they there, and how are you going to get to them, right? So this is what you got to think about in the very first step of this type of media when you're dealing with your promotions.
So there's two different types you can think about when approaching this. The first one is called inbound and the second one is called outbound. So I'm going to take a second here and explain to both of you.
Both of them to you. The first one is going to be inbound. What is inbound? Inbound is blogging, social media, SEO, whether that's on Amazon or Google or YouTube, or for that matter, even like, you know, Instagram, TikTok, those types of places.
You have podcasting. And then the last one is you have email blasts to approved lists. So I'm going to take a second here, explain to you what this means.
So to me, the easiest way to think about it is whether it's a podcast or if we think of a blog, something on Google. Okay. So take a second, imagine yourself. If you have a problem, right? Some kind of, it doesn't matter what it is.
You have a problem. What do you do? You go to Google and you type it in.
How do I X, Y, Z, right? Y is X, Y, Z, right? You type in something to look for an answer. You type it in, you click enter, a whole bunch of different options appear.
Most of us click on one of the first few, or else you go to YouTube, you do the same thing. You click on one of the first couple links, right? You click on it, you go there, you read the blog, or you watch the video.
If this blog or if this video solves your problem, how do you feel? You feel great. You feel relieved. You feel happy. Because you feel relieved and happy, you suddenly have a little bit of loyalty to this person.
If this person happens to recommend some type of product, There's a high chance that you might purchase that product. Or you'll come back to them in the future if you have another problem similar to that one. You'll continually come back and you'll build a relationship with them. Because they solved your problem, they have built trust with you. Right?
There's a relationship there. And so when you... Excuse me, when you think about blogging, social media, ranking on Google, podcasting, all of these things, they're waiting with information that they have to give to you when you come.
So here is where this is important when it comes to marketing. Okay, when you choose to do inbound marketing, you're producing a lot of information, you're putting it on the internet. The good thing is, is all of the customers you get are free. The second thing is, is when they come onto your website or your podcast or whatever it is, they're going to be thankful and they're going to trust you and they're going to build loyalty to you because you helped them out.
They're not going to be feeling of taking advantage of or skeptical because they came to you, you didn't go to them. So here are the perks. It's free or it's nearly free and you get a high level of trust.
The downfall, it takes time. You're waiting for them to come. It's like fishing with a pole.
You're just waiting for the fish to come. It could, you could get lucky and someone could come today or tomorrow. You might be unlucky and it could take months for somebody to come, maybe even years. And so this is the downfall of this.
It's low cost. It's very trustworthy. The downfall is it takes forever.
The opposite of this is outbound. Outbound are things like TV and print ads, telemarketing, text blasts, email blasts to unapproved lists. So what is this? This one basically means you're buying your customers. You're playing a numbers game.
You're hoping that, hey, if I spam enough. people, I'm going to get some takers. That's basically what it is. If I spam enough people, I'm going to get takers. So the opposite of this is like throwing a net when you're going fishing instead of waiting.
You're just hoping that if I throw this net, I know I'm going to get a lot of random fish, maybe some boots or some cans, but I'll be lucky and I'm lucky I will get some actual customers. Here's the difference. This is expensive. You're basically buying time, right? You're using your money, your fat pockets.
large budget to purchase time to convince customers. The other thing is, is because you're reaching out to these customers, like sort of unannounced, instead of them finding you, you're finding them. Generally, people are more skeptical, right?
And so you have to do a better job sort of selling what you're doing. So if you have a lot of money and you have a short window, like a small timeframe, outbound could be better. Inbound, if you have time, and a low budget, inbound is better because inbound you can build trust and hopefully lifelong customers.
Outbound is the difference. So this is something to think about when you're starting to like, how are you going to communicate with your customers? How are you going to promote your product? How are you going to approach them? Which type should we go for?
Which plan? The next thing we're just going to go over some basic vocabulary. The first one is advertising.
Advertising is a paid placement. The key word is this. It's paid.
Every time you do advertising, you are paying somebody. You're paying Google. You're paying Amazon.
You're paying cable. You're paying the billboard company. You're paying the bus company. You're paying the subway company.
You're paying somebody to put it out there. That's advertising. Direct marketing is more like customized marketing. It's email marketing, direct mail marketing, telemarketing. You're trying to get a little more focused and customized on people.
The last one, consumer promotion. Consumer promotion is what I like to say it's a nudge. They're giving you a nudge. It's a coupon.
Buy one get one free. It's something like that. Right? These are examples of giving people just sort of a nudge.
I'm going to actually share an example of how this works. So recently my wife and I we redid the kitchen in our house. We actually built an addition everything but we built the kitchen. On the last day when it was finished, nearly finished, I'm not exaggerating.
They came to our house to tidy everything up and to leave they found a leak in our basement. There was a puddle. Water was dripping. They just finished this huge addition that took months and they found a leak. So what they did they couldn't figure out where the leak was coming from.
I went out. I come home. There's a humongous hole in the wall.
A huge hole in the wall by like probably like three feet by two feet and a brand new wall and a brand new kitchen to try to find the leak. They spent all day. So I had to go to work to teach my classes. I come home, I get in the car, I call my wife, how's it going? She's like, they still don't know where the leak is.
There's still a hole in the wall, but they've been working extremely hard. And of course they have to fix this for free because this is a hole that they made. If this could have happened two or three weeks later, we could have had a huge headache, but they stayed.
They put extra time in to finish this leak to try to fix it. My wife said, Hey, you should give them a gift. like some kind of thank you they have any lunch or anything so i thought you know what i just saw a commercial on tv for mcdonald's that said buy one flame mcfish whatever it's called get one free so i said hey i just saw this ad for buy one get one free at mcdonald's mcfish whatever the heck it's called so i went to mcdonald's and i bought them the whole reason i went there was because they gave me a nudge they gave me a push that's a consumer promotion Some more vocabulary, personal selling.
Personal selling is generally tied to high involvement cognitive purchases. Take a second and think about yourself. Where do you see salespeople? Electronic department at Target, Walmart, Best Buy, there are lots of salespeople, cars, realtors, apartments, the clothing departments when you want high-end clothing departments, high-end shoes. These are the high involvement things.
These are things that people think, if I make a mistake, it could come back and hurt me. It could have negative consequences. So for this reason, personal selling is generally tied to high involvement purchases.
If it's a low involvement purchase like gum or candy, you don't need a salesperson. No one really cares. The next one, public relations. Public relations, I like to think of it as an asterisk down there.
Traditionally, public relations was free. It was when people talked about your product in the media or your brand in the media. In the last few years, this great thing called influencers has popped up. Influencers work really, really hard to try to make it appear that they are a neutral public relations person.
But in reality, most influencers are either being paid or they're at least giving the product for free. And the good ones, the ethical ones, you'll scroll down and you'll see. And the very small bottom will say hashtag ad or hashtag paid.
But most don't say anything. And the reason they're doing this is they're trying to build trust, right? So this would be considered public relations if they genuinely went to the store and they purchased it.
It's questionable how many actually do that. But that's what public relations are. So in today's world, I feel like you have to be somewhat careful with public relations. And oftentimes when you hear public relations, it means PR. You'll hear the saying, like, there's no such thing as bad PR, right?
That kind of thing. Event marketing and sponsorships. These are baseball games, movies, art, like theater, you know, any kind of big events. You go to conferences for your job, you might see them. They're sponsoring these large events.
There's plays, there's like marathons and things. These are all things, the Super Bowl, of course. They're sponsored, right? And so these are really big things that brands will put a lot of money into to try to sponsor.
You hear big ones like the Olympics coming. A recent one that just happened was really big was the World Cup in Budweiser. And the last one is social media, which of course we all know what social media is. Okay, this is something here that I think I really want to take a second and emphasize on this.
It's something that has changed a lot over the years. And it's something you really need to think about when you're a marketer and how you're going to communicate with your customers. Which type of media or channel are you going to choose to reach your customers? All right, so we have this long list.
I'm not going to go through them. We have some like Twitter, Instagram, radio, magazines, Snapchat. This is just a list of different things. Why do I share this with you?
What does this mean? This is what I want you to remember. As not long ago, most of them were very, very similar.
There wasn't much difference from channel to channel. But in today's world and going forward, they're becoming more and more like separated, more and more. farther apart from the ones next to them. And so you need to do a lot of research, excuse me, to find where your customer is.
Which channel are they on? So imagine you say like, you know, people on TikTok. Who's on TikTok, right?
Direct mail. Direct mail is not dead. There's a reason to use direct mail. Maybe it's local businesses are going to be on direct mail.
There's a benefit there. The radio. Who listens to the radio?
who doesn't listen to the radio, right? And these things are always changing. And so again, using Twitter, YouTube, you have to think about who's really on there.
And here's what's unique. Just because that person's on there today does not mean they won't be on there tomorrow. Today, a young college student might laugh at anyone that listens to the radio because they're on Spotify.
But does that mean in 10 years, when they're tired and they have a family and they have a full-time job, and they have all these other activities and they're stressed out that they're not going to just turn on the radio in their car instead of searching through their phone to find the proper Spotify to put it on. I don't know. I don't know. But you always have to be thinking about how they're changing and how your customers are changing. And that's really important to think about.
Don't just make assumptions. Do the research. The last thing is this. If customers don't look at ads, how do you reach them? We know that customers on average or people on average see two, three, maybe even 5,000 ads a day, but they actually only pay attention to three to four ads a day.
How do you get them to notice you? Then if you take the other extreme, think about yourself. If you're watching TV or a sports game, an ad comes on, what do you do?
Do you pick up your phone? Do you change the channel? Right?
If you're on YouTube and an ad comes on, you don't, and what do you do? You're clicking skip obsessively. Even though it says five, four, three, two, you're still clicking all the way down. How many of you have ad blockers on your computer? Right?
We're doing everything we can do to block this, which is to avoid ads as much as possible. We hate ads. We do streaming.
We have Spotify. We have ad blockers. We avoid ads.
So how do you reach? your customer. How do you communicate with your customer? Product placement is the way.
Product placement means putting your products inside of TV shows, movies, or video games. You put your products in there and then you have them use it in a natural, organic way. And it appears like it's natural and organic.
Your customers don't even realize that they're seeing their favorite actor or video game character use this product. But they're using it and then they'll find themselves using it later the same way. And so it has a huge benefit to it.
This is the fastest growing way to market your products out there, to promote your products. By far, it's the fastest growing way. Here's two examples. These are my favorite examples. The first one is a Modern Family episode based on the whole entire episode takes place on FaceTime.
It's great. They use FaceTime. They do chatting. Everything is through Apple products, an entire episode.
So, of course, if you watch that and you don't have an Apple product, you feel like, hmm, right? And if you have an Apple product, you feel extra proud. But here's my favorite of all time, and this is an older one.
This is the original Transformers. When the original Transformers came out, Chevrolet had discontinued the Camaro. The Camaro was discontinued around 2000. The Transformers came out I think around 2007. So there's about a seven-year window where there was no Camaro available.
When Transformers came out and the Camaro was Bumblebee in the movie, you could not purchase a Camaro yet. This yellow Camaro that looks similar to like an older style Camaro was the first time that anybody had seen it was when it was in the movie. It was groundbreaking.
GMC paid massive amounts of money to have their car as the main character and its new product launch. If you go look up the research, when it did finally come to the market, they sold way more than they ever anticipated. And it's a hundred percent because of the product placement from Bumblebee.
So product placement is a great thing. I think of it sometimes as like, it's one of those things where you never notice it until someone breaks the glass, kind of thing. And now every time you watch a TV show, you notice it.
And it's hilarious. And one of the funny ways you'll notice it is in car companies do this all the time. The camera will start out at an angle focused on like the steering wheel or the front of the car. And then it will zoom around to the side, right? And as it zooms around, then it gets going.
So they make sure there's a long time that they actually show that thing. All right. Thank you so much.
Have a great day. Take care and I'll see you soon. Bye.