Unraveling the Intricacies of Marketing: A Conversation with Nathan Yeung
Welcome back to my blog, fellow entrepreneurs! As the host of the Marketing 101 for Small Business Owners podcast, I recently had the pleasure of interviewing Nathan Yeung, a seasoned marketing strategist with a unique background in finance and operations. Today, I’m excited to share the insights from our enlightening conversation.
Understanding the Marketing Landscape
In our previous podcast episodes, we’ve explored the differences between marketing, advertising, public relations, and sales. Each plays a crucial role in business growth, but understanding their unique functions can be a game-changer for small to medium-sized businesses.
Nathan, known for his innovative data-driven campaigns, emphasized the importance of sustainable and practical marketing strategies. He advised business owners to focus on what they can execute well, rather than getting caught up in chasing every marketing trend.
The Power of Authenticity and Creativity
Nathan encourages businesses to be bold, creative, and authentic in their advertising efforts. He explained the concepts of reach, impressions, and frequency in advertising, emphasizing the need for memorable and creative ads, especially for businesses with limited resources.
He shared a striking statistic: it may take 7 to 10 exposures to an ad for someone to remember a brand, and even more for less exciting industries. This underscores the need for businesses to leverage their creativity to make a lasting impression on their target audience.
The Long Game of Marketing
We discussed the importance of giving marketing campaigns enough time to see results. I mentioned that clients often want to shut down ads after a short period of time because they haven’t seen immediate results. However, marketing is a long game, and it takes time for campaigns to be effective.
Nathan added to this point by comparing marketing to a sales funnel and highlighting the journey that customers go through before making a decision. He introduced the concept of the “zero moment of truth” or the “messy middle,” which is the process of assessment, consideration, and decision-making that happens before customers enter a company’s funnel.
The Role of PR and Advertising
We also discussed the importance of being the first brand in a customer’s mind and how advertising and PR play a role in achieving this. Nathan explained that PR is a way to leverage authority through storytelling and create conversations around a brand. He emphasized the importance of controlling the narrative and enabling influencers to discuss the brand.
I added that good PR gives a brand the confidence to be more authentic and creative in its advertising. We also briefly touched on the relationship between marketing and sales, noting that there should be a clear line between the two.
The Intersection of Marketing and Sales
Nathan delved into the relationship between marketing and sales in organizations. He explained that marketing encompasses everything except for technical solutions, selling, and relationship building. While there is a lot of overlap between marketing and sales, Nathan emphasized the importance of personal, one-to-one relationships in sales.
He believes that organizations must allow salespeople to focus on their strengths, such as being personable, experienced in leading conversations, and generating momentum towards a product.
Advice for Small Business Owners
For small business owners who handle both marketing and sales, Nathan advises them to define their work scope and consider hiring freelancers to handle specific marketing tasks on a fixed fee basis. This can help free up their time and improve the quality of their marketing efforts.
While it may not always be economically feasible to separate sales and marketing, especially for solo entrepreneurs, Nathan encourages them to focus on their strengths and consider outsourcing where possible.
In conclusion, our conversation with Nathan Yeung provided valuable insights into effective marketing strategies for small businesses, emphasizing the importance of practicality, creativity, and authenticity. Stay tuned for more enlightening discussions on the Marketing 101 for Small Business Owners podcast!
Connect with Nathan (w: www.findyouraudience.online | e: firstname.lastname@example.org)