Downloaded 1,197 times
Uploaded byHubSpot
The Hard Truth About Marketing
The document discusses how marketing has evolved since 2006, highlighting that customers have become better at marketing than brands due to the abundance of content available today. It emphasizes the shift in consumer behavior, where trust in personal connections overshadow brands, leading to the need for companies to focus on customer relationships rather than traditional marketing strategies. The document concludes by advocating for a 'flywheel' approach to business, prioritizing customer experience and engagement over mere sales transactions.
More Related Content
Similar to The Hard Truth About Marketing
The Hard Truth About Marketing
- 1. THE HARD TRUTH ABOUT MARKETING
- 2. Since 2006, HubSpothas been one of the leading developers of marketing software, but today, we’re here to tell you the hard truth about marketing…
- 3. YOUR CUSTOMERS ARE BETTERAT MARKETING THAN YOU.
- 4.
- 5. That’s right. Your customerwho can’t use Photoshop?
- 6. That’s right. Your customerwho can’t use Photoshop? Better marketer.
- 7. That’s right. The onethat doesn’t know what SEO stands for?
- 8. That’s right. Better marketer. Theone that doesn’t know what SEO stands for?
- 9. That’s right. That guywho Bings things?
- 10. That’s right. Yeah, he’sbetter than your CMO. That guy who Bings things?
- 11. 10 years agothat might not have been true.
- 12. Technology is differentand people have changed. But it’s 2018.
- 13. To explain, weneed to take a trip back in time...
- 14. Pluto lost itsplanet status. Daniel Powter’s “Bad Day” topped the Billboard charts. And blogging best practices dictated that you publish new posts around the clock. Do you remember 2006?
- 15. I know, it’scrazy. MON TUES WEDS THURS FRI SATSUN BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST
- 16. I know, it’scrazy. Who could maintain that cadence … MON TUES WEDS THURS FRI SATSUN BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST
- 17. I know, it’scrazy. Who could maintain that cadence and NOT have a bad day? MON TUES WEDS THURS FRI SATSUN BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST BLOG POST
- 18. But the thingis …
- 19. But the thingis … publishing all that content …
- 20. But the thingis … publishing all that content … it worked.
- 21. But the thingis … publishing all that content … it worked. Over the past decade, marketers have seen traffic increase, watched social followings skyrocket, and have developed some seriously ripped finger muscles.
- 22. And that’s …kind of the problem.
- 23. It worked sowell, everyone started doing it. Things got A LOT more COMPETITIVE FOR BUSINESSES AND A LOT MORE CROWDED FOR BUYERS.
- 24. Not only dideveryone start publishing blogs, they created videos, infographics, social posts, podcasts, and much, much, oh so much more.
- 25. Not only dideveryone start publishing blogs, they created videos, infographics, social posts, podcasts, and much, much, oh so much more.
- 26. Not only dideveryone start publishing blogs, they created videos, infographics, social posts, podcasts, and much, much, much, oh so much more.
- 27. Not only dideveryone start publishing blogs, they created videos, infographics, social posts, podcasts, and much, much, oh so much more.
- 28. So consumers? Theygot better at filtering out the boatloads of content. Just like they got better at filtering out the boatloads of ads back in 2006.
- 29. And we sawthe same thing with email.
- 30. After years ofdealing with crowded inboxes, customers started to ignore delete and unsubscribe.
- 31. After years ofdealing with crowded inboxes, customers started to ignore delete and unsubscribe.
- 32. After years ofdealing with crowded inboxes, customers started to ignore delete and unsubscribe.
- 33. And if youthought social media was spared, think again.
- 34. The more companiespublished, the less people paid attention. 100 80 60 40 20 0 10,000 8000 6000 4000 2000 0 Contentpublished Shares JAN ‘15 JUL ‘15 JAN ‘16 JUL ‘16 JAN ‘17 JUL ‘17 JAN ‘18 Content published Avg Twitter shares Source: BuzzSumo
- 35. Just take alook at the chart. The more content companies posted, the less times it was shared on Twitter. 100 80 60 40 20 0 10,000 8000 6000 4000 2000 0 Contentpublished Shares JAN ‘15 JUL ‘15 JAN ‘16 JUL ‘16 JAN ‘17 JUL ‘17 JAN ‘18 Content published Avg Twitter shares Source: BuzzSumo
- 36. Social networks beganto prioritize posts from friends and family to keep users on their sites.
- 37.
- 38. Should marketers justpack up their Hawaiian shirts and head for early retirement?
- 39. “What a ride!That was fun while it lasted.” ¯_(ツ)_/¯ Should marketers just pack up their Hawaiian shirts and head for early retirement?
- 40.
- 41. Not so fast… Peopledon’t hate your marketing.
- 42. (In fact, theyneed it, read it, sometimes even love it.) Not so fast… People don’t hate your marketing.
- 43. (In fact, theyneed it, read it, sometimes even love it.) Not so fast… People don’t hate your marketing.
- 44. (In fact, theyneed it, read it, sometimes even love it.) Not so fast… People don’t hate your marketing.
- 45. It’s just thatthey love their friends and family so. much. more.
- 46. And when buyinga product, they ask their opinion first.
- 47. And let’s behonest, are we really that surprised? Tell me you don’t love your mom more than a marketer.*
- 48. And let’s behonest, are we really that surprised? Tell me you don’t love your mom more than a marketer.* *Unless your mom’s a marketer. We can’t help you there.
- 49. Even the bestoptimized blog post is less influential than a customer review.
- 50. Even the bestoptimized blog post is less influential than a customer review. Even the most engaging facebook video remains unwatched unless customers share it.
- 51. Even the bestoptimized blog post is less influential than a customer review. Even the most engaging facebook video remains unwatched unless customers share it. Even the best crafted email in the world, clever subject line and all, gets skipped in a crowded inbox of emails from colleagues or friends.
- 52. YOUR CUSTOMERS ARE BETTERAT MARKETING THAN YOU.
- 53. So while creating contentis still your best and cheapest strategy, it should no longer be your only strategy… 2018 CAC Study 60% 45% 30% 15% 0% 5YEARSAGO 4YEARSAGO 3YEARSAGO 2YEARSAGO 1YEARAGO TODAY PAID CAC CONTENT CAC WHEN MEASUREMENT WAS TAKEN www.profitwell.com/blog/content-marketing-customer-acquisition-cost Customer acquisition cost has increased significantly.
- 54. … because TECHNOLOGY HAS CHANGED, andpeople listen to their friends and families over companies.
- 55. And that’s notthe only thing technology is changing.
- 56. Just look atAmazon.
- 57. Free Two-Day Shipping FreeSame-Day Delivery Prime Video Prime Music Amazon Fresh Amazon Dash for Prime Prime Reading Prime Photos Amazon Alexa Amazon is changing the game by setting a new gold standard for convenience and overall customer experience. And consumers are loving it.
- 58. We don’t meanthey “like” it…
- 59. Or even “likelike” it…
- 60. We mean theyREALLY love it.
- 61. In fact, Amazonjust announced they have over 100 million Prime subscribers.
- 62. That’s more thanthe entire population of Canada, Australia, Mongolia, Scandinavia, and Bolivia…
- 63. combined. That’s more thanthe entire population of Canada, Australia, Mongolia, Scandinavia, and Bolivia
- 64. It’s not justthat technology has changed… PEOPLE HAVE CHANGED, TOO.
- 65. Today, we’re lesspatient. Source: HubSpot Research How important is an immediate response when you need support? Very Important Important Neutral Unimportant Very Unimportant 57% 33% 8% 1% 1%
- 66. Today, we’re lesspatient. 90% of consumers expect an immediate response from customer service representatives. Source: HubSpot Research How important is an immediate response when you need support? Very Important Important Neutral Unimportant Very Unimportant 57% 33% 8% 1% 1%
- 67. More skeptical. Who doyou consider to be trustworthy? Base: 928 Global respondents (up to 3 selections accepted) Source: HubSpot Global Jobs Poll Q2 2016 Doctor Firefighter Teacher Nurse Dentist Accountant Lawyer Professional musician Software developer Journalist Barista Services/customer service Professional athlete Investment banker Salesperson Marketer Stockbroker Cars salesman Politician Lobbyist 49% 48% 38% 36% 19% 12% 12% 10% 9% 5% 5% 4% 4% 3% 3% 3% 2% 1% 1% 1%
- 68. Only 3% ofconsumers trust salespeople and marketers. More skeptical. Who do you consider to be trustworthy? Base: 928 Global respondents (up to 3 selections accepted) Source: HubSpot Global Jobs Poll Q2 2016 Doctor Firefighter Teacher Nurse Dentist Accountant Lawyer Professional musician Software developer Journalist Barista Services/customer service Professional athlete Investment banker Salesperson Marketer Stockbroker Cars salesman Politician Lobbyist 49% 48% 38% 36% 19% 12% 12% 10% 9% 5% 5% 4% 4% 3% 3% 3% 2% 1% 1% 1%
- 69. And wildly distractedby the millions of pieces of content vying for our attention.
- 70. We expect shippingto happen overnight,
- 71. We expect shippingto happen overnight, algorithms to read our minds,
- 72. We expect shippingto happen overnight, algorithms to read our minds, companies to know who we are,
- 73. We expect shippingto happen overnight, algorithms to read our minds, companies to know who we are, and conversations to happen how, when, and where we want.
- 74. Source: HubSpot Research Callthe company Go online and try and answer my question on my own Send an email to their customer support team Go online and chat with customer support using live chat tools 30% 27% 24% 19% How people like to contact customer service reps When you have a customer service issue or question with a company - what do you do first? Whether that’s by phone, website, email, or chat.
- 75. Source: HubSpot Research Callthe company Go online and try and answer my question on my own Send an email to their customer support team Go online and chat with customer support using live chat tools 30% 27% 24% 19% How people like to contact customer service reps When you have a customer service issue or question with a company - what do you do first? Whether that’s by phone, website, email, or chat.
- 76. Source: HubSpot Research Callthe company Go online and try and answer my question on my own Send an email to their customer support team Go online and chat with customer support using live chat tools 30% 27% 24% 19% How people like to contact customer service reps When you have a customer service issue or question with a company - what do you do first? Whether that’s by phone, website, email, or chat.
- 77. Whether that’s byphone, website, email, or chat. Source: HubSpot Research Call the company Go online and try and answer my question on my own Send an email to their customer support team Go online and chat with customer support using live chat tools 30% 27% 24% 19% How people like to contact customer service reps When you have a customer service issue or question with a company - what do you do first?
- 78. As marketers, you’reprobably feeling the squeeze.
- 79. But take abreath…
- 80. And remember yourbiggest fans.
- 81.
- 82. People listen toyour customers.
- 83. Sure, they preferwatching miniature cooking videos more than reading your daily emails.
- 84. And they can’tbe bothered to comment on your social posts.
- 85. But when yourcustomers talk, people take notice…
- 86. And if youdon’t think your customers help your business, think again.
- 87. 90% of consumerswould spend MORE because of excellent customer service.
- 88. Word of mouth(friends,social media) referrals Customer references Media articles Vendor-authored materials (eBooks,blog posts,whitepapers,case studies Analyst reports/ recommendations (Gartner,Forrester) Crowdsourced review sites (Quora,G2 Crowd,TrustRadius) Salesperson 55% 46% 38% 38% 34% 27% 22% Businesses report that word-of-mouth is their single best source of referrals. What sources of information do you rely on when making purchase decisions for business software? 77% of consumers have shared positive experiences Source: HubSpot Research
- 89. And over halfof U.S. consumers are turning to Amazon customer reviews to research items before they buy.
- 90. In fact, 60%of people trust what customers say when making a purchase while only 35% trust companies.
- 91. Did you catchthat? Your customers have almost double the amount of power you do.
- 92. Your customers aren’t justa source of revenue anymore, they’re your entire business. Source: HubSpot Research Yes 80% No 20% Have you stopped doing business with a company because of poor customer service?
- 93. It’s no wondercompanies are struggling. Take a look at how we view customers today. Marketing Sales Customers
- 94. Sales Customers “Yes, hello. We’restill on hold”
- 95. Yeah, it’s prettyobvious we prioritize sales and marketing over customer service. “Yes, hello. We’re still on hold” Marketing Sales Customers
- 96. So if youwant to grow better, you need to ditch the funnel...
- 97. And say helloto the flywheel — a new way to think about customers and growth. Service Ma rketing Sales Customers
- 98. Because your jobisn’t to close deals…
- 99. It’s to openrelationships.
- 100. And those customerrelationships should power your entire business strategy. Service Ma rketing Sales Customers
- 101. Ignore your customersand you endanger your company. IN TODAY’S MARKET, THE MESSAGE IS CLEAR:
- 102. I know, it’sa different way of thinking…
- 103. But the datadoesn’t lie. And once we realized this, we moved mountains here at HubSpot to make meaningful changes that would better serve our customers.
- 104. Because we nowknow the best way to grow better is for businesses and customers to work together.
- 105. So how’d wechange? Well for starters, we’re optimizing our content for our customers, so we’re able to get more views with less content.
- 106. So how’d wechange? Well for starters, we’re optimizing our content for our customers, so we’re able to get more views with less content. Bye bye traffic plateau, hello Mount Everest levels of search traffic.
- 107. We introduced morecommunication channels like live chat and Facebook Messenger. By meeting our customers where they spend their time, we’re able to reach more people and send less emails.
- 108. We introduced morecommunication channels like live chat and Facebook Messenger. By meeting our customers where they spend their time, we’re able to reach more people and send less emails. Later crowded inboxes, what’s up engaged customers.
- 109. And we unitedour whole company around delivering a great customer experience. By making our customers our top priority, we’re able to rely on them to advocate for us.
- 110. And we unitedour whole company around delivering a great customer experience. By making our customers our top priority, we’re able to rely on them to advocate for us. Farewell outdated funnel, welcome customer flywheel.
- 111. Oh, and wecreated an entire piece of software to better align our sales and marketing teams with our customers’ success.
- 112. Oh, and wecreated an entire piece of software to better align our sales and marketing teams with our customers’ success. It was NBD. No need to make a big fuss over it.
- 113. Oh, and wecreated an entire piece of software to better align our sales and marketing teams with our customers’ success. It was NBD. No need to make a big fuss over it.* *Actually, it’s a pretty big deal. You can make some fuss ;)
- 114. That’s right! We createda product that allows marketers to…
- 115. Talk with theircustomers one to one on live chat, Facebook Messenger, email, phone, and more.
- 116. Talk with theircustomers one to one on live chat, Facebook Messenger, email, phone, and more. Consolidate every interaction with a customer into a single view for your entire company.
- 117. Talk with theircustomers one to one on live chat, Facebook Messenger, email, phone, and more. Consolidate every interaction with a customer into a single view for your entire company. Find customers who are obsessed with their company so they can serve as brand advocates.
- 118.
- 119. A new productfrom HubSpot 100% focused on helping you create the best customer experience.
- 120. Guaranteed to helpyou engage your customers, guide your relationships, and grow your business.
- 121. Because companies thatstop thinking about their businesses as a funnel, and start thinking about it as a flywheel will win.
- 122. Because companies thatstop thinking about their businesses as a funnel, and start thinking about it as a flywheel will win.
- 123. And the hardtruth about marketing is…
- 125. Get started withService Hub today