We scan new podcasts and send you the top 5 insights daily.
Digital marketing has conditioned businesses to equate investment with clicks. However, the true function of advertising is to capture attention, which builds awareness. This awareness is what prompts a customer to seek you out when they have a need, making clicks and calls a byproduct of prior attention-grabbing efforts.
Attention is the prerequisite for everything else in business. Instead of viewing it as a dirty word, marketers should embrace creative, unconventional strategies to make more people aware they exist. This builds the audience you can later convert.
Only 5% of your audience is ready to buy. For the other 95%, the goal is to build "mindshare"—a runway of awareness and trust through valuable content. This ensures that when they eventually enter a buying cycle, your brand is already a known and respected entity.
It's wrong to dismiss channels like billboards because they lack direct, one-to-one conversion tracking. Their purpose isn't immediate action but to build top-of-funnel awareness. When a potential customer later searches for your service, they are more likely to choose your company from the results because they recognize and have a pre-existing preference for your brand.
Brands over-invest in TV, mistaking ad placement for consumer attention. Viewers are distracted during commercials. Social media ads, integrated into feeds, capture actual attention more effectively and provide better ROI, even for older demographics who are heavily on platforms like Facebook.
Gary Vaynerchuk argues that large companies cling to outdated marketing playbooks, measuring success by "potential reach" (e.g., billboard impressions). This metric is flawed because it ignores whether anyone actually paid attention. Startups win by focusing on "actualized reach" on platforms where attention is guaranteed.
To move beyond last-click attribution, small businesses should add a simple metric to their daily tracking: impressions. By analyzing the relationship between impression spikes and the subsequent rise in clicks days or a week later, they can start to see the true top-of-funnel drivers of their business, revealing which channels are building crucial initial awareness.
Frame marketing strategy not as managing channels, but as "day-trading attention." Identify platforms where user attention is high but advertising costs are low due to a lack of saturation from major brands. This arbitrage opportunity allows smaller players to achieve outsized results before the market corrects.
Startups focus 100% on direct-to-purchase ads, making them vulnerable. Long-term, successful brands shift to a 70/30 split between brand awareness and direct response. This builds a durable moat that performance-only marketing cannot, protecting them from competitors and rising ad costs.
Counterintuitively, dedicating budget to campaigns optimized for engagements, follows, and shares can be a powerful brand-building tool. This approach reaches more people less expensively than conversion campaigns, building an audience and 'searing memories' that lead to future demand, complementing direct response efforts.
Marketing's true function is probabilistic—it increases the chances of being in the consideration set when a buyer is ready. The common mistake is to measure it deterministically (e.g., this ad led to this sale), creating unrealistic expectations and flawed strategies.