511 - The Marketing Mix

October 9, 2018

Hey, what's going on? Welcome to Episode 511 of The 7 Minute Mentor with me, Mark Asquith, and today I'm going to talk about the marketing mix. It's something that everyone who has ever come across marketing in any kind of form or guise has probably been exposed to, maybe knows exists or perhaps has never heard it, but either way it is at the core of all marketing.

So we're going to talk about that in just one moment, but just a little cheeky quick reminder like normal, that of course I will be live on Friday with my free coaching. That's right, every single Friday I put together 30 minutes of my time to help you to define, challenge and conquer the biggest issue that you're having in your business, and I do this all on Facebook Live. Now you don't have to pay to be on the session. Heck, I don't even want your email address. All you need to do is show up on my Facebook page, search for me, Mark Asquith at 4:00 p.m UK, 11:00 a.m. Eastern, 8:00 a.m. Pacific, every single day.

Now if you do want to ask me a question, then you can also go ahead and tell me what that question is and I promise to pick it up, okay? You can do that at excellence-expected.com/freecoaching.

Also, a quick reminder that the team at AWeber is still giving you 90 days free to try AWeber's platform. Now, email marketing is super important. I'm in the midst of redoing a pile of content and helping founders to become better founders, and right at the center of that is email marketing. How can you possibly build any business without a way to gather prospects, without a way to gather leads and without a way to ultimately nurture people through to a purchase? You simply can't, and AWeber does that for me, and it can do that for you. The team are wonderful. They're really personal just like me. They value friendship. They value relationships, and ultimately they are the best at what they do. So kick your email marketing up a notch. Go and sign up for AWeber for a free 90-day free trial at excellence-expected.com/aweber.

All righty then, what sounds like yet another buzzword or piece of jargon is actually a core concept of all marketing, and a concept that you must understand at a base level as a founder. This is the marketing mix. Now, like I said in the prelude, you've probably been exposed to this at some point. You've probably come across this. Now, you may not have come across it by name. You may not have even understood that you've come across it, but ultimately the marketing mix is something that we all have to do it, and what it is is it's the mix of all platforms and communications and lead magnet and lead generation pieces, and e-books and literally every piece of content that we put out. Every piece of marketing from a tweet to an e-book, from a YouTube video to a podcast episode, from a blog post to a webinar, even direct mail, even merchandise at an event. It's all part of the marketing mix.

Now the reason I'm introducing this concept to you as a founder is, is it is very, very simple, but you have to understand that not one piece of marketing works independently. Not one piece of marketing will work in and of itself. It requires a mix. Now, one of the big kind of, I guess one of the big pains in my ass as I used to run an agency was that we'd get a lot of people coming to us asking for SEO. Now back in the early Hacksaw days, and my business prior to Hacksaw which was, I want to say 16 years ago, not 16 years ago, sorry, 12 years ago, 13 years ago, we specialized in search engine optimization. We got very, very good at it. We could do really good search engine optimization campaigns.

The reason that I stopped doing that, even though it was great monthly revenue, it was great, it was recurring, the reason that I stopped doing that was very, very simple. We'd get founders, we'd get business owners coming to us and saying, "Listen, I want to be at the top of Google," and I'd say, "Well, that's, you know, okay, let's work out what keywords you want to rank for and let's figure out the business logic." And they'd say, "Well, no, no, no, you know, I just want to be at the top of Google."

Well, all right, what else are you going to do with that? What other marketing are you doing? How are we going to drive people to Google? What are we going to do after they've been on your website? What are we going to do to re-market to them, and they didn't want to know. They just thought SEO, organic search engine rankings would be the golden egg. And you know, a lot of the time you would get a lot of traffic, but if you didn't do anything with that traffic, if you didn't implement the marketing mix where you'd give them something, you'd get them onto an email list, you'd build up trust, that knowing, that liking, that trusting, then you'd take them through a [inaudible 00:05:01] product into a purchase. If you didn't have any of that marketing mix, then the search engine optimization will not work, and ultimately I just got bored of doing it. There's only so many times you can bang your head against the wall before you realize it hurts.

The marketing mix is something that all founders these days, I believe, need to have grasp of. Now, if you flash forward now from let's say 2005 through to October 2018, I see a lot of founders doing a very, very similar thing albeit not with SEO. A lot of founders are doing the same with Instagram marketing, Facebook marketing, Facebook ads, or they're doing the same with social media strategies or heck, they're doing the same with podcasting and email marketing, but what they're doing is they're doing these things in isolation, okay? They're doing these things in isolation, and it simply can't be that way.

We have to have a sound strategy. We have to understand exactly what we want to do, and where we want to position ourselves before we can even understand what the mix will be. We've got to understand the demographics of our people. We've got to understand our avatar, and unless we do that, we don't know what type of marketing mix to implement. There's no point in implementing email marketing if our target market is builders who will respond much better to text messaging. You see the point? You can't just do what everyone else is doing.

So the marketing mix is a vital concept. Now it's not anything super tangible. It's actually just something that you work on as part of a wider strategy, which is what we're going to start to move into as the days and weeks progress throughout October.

But the one thing that I want you to be very, very cognizant of is the fact that no marketing will work in and of itself, no channel will work in and of itself. Instagram, Twitter, they won't work on their own. Podcasting won't work on its own. Think of any successful business. Think of anyone that you think is successful in a particular channel, like a podcaster, like a blogger, and look at what else they do. I will guarantee you that they've got some version of a marketing mix.

Consider that. Go and do a little bit of research. Go and look at your competitors. Let's look at what's going on, okay?

So, we are going to dig into strategy. We are going to dig into just figuring out what we can do and where we want to be positioning ourselves over the next few days. So until tomorrow, please never forget the more you expect from yourself, the more you will excel.