The single most profound insight for me about marketing is the all-conquering power of growing and building an ongoing direct relationship with an audience. Your ability to do that is severely restricted if you don’t own and control access to your audience.
Yet, I see a trend where business and personal brands are switching their online home to third-party platforms like Facebook and Medium. For example, the 37Signals (Basecamp) blog and Mark Suster (VC) have both recently switched to Medium.
We’re in danger of sleepwalking back to the television era when a handful of all-powerful brands owned & controlled access to the audience. Joe Pulizzi of the CMI explains why we’re being seduced and why it’s dangerous.
Personalisation vs Personal Relationships
Cory Treffiletti (VP Marketing at Oracle Data Cloud) draws a terrific distinction between the tendency toward data-driven ‘personalisation’ and the time-honoured (and proven) nature of personal relationships. “We have to understand the implied consent and the element of time to build a relationship. If we don’t respect the time required, then we come off as desperate — and that’s no way to build a relationship.” A perfect illustration of why build ongoing personal relationships over time is the way to go.
The Journey Wins
David Edelman is the global co-leader of McKinsey Digital, Marketing & Sales. He gave a fantastic talk at MarTech US 2016 about how discovering and joining prospective customers on their journey leads to more sales. Find out where they are, join them where they are and help them at every stage of their journey. Brilliant talk.
18 Epic Social Media Marketing Tips
Social Media Marketing World is one the biggest social marketing events of the year. It’s just finished and here are 18 take-aways from some of the brightest minds in social media marketing.
Your Chances of Becoming a Unicorn = 0.9%
CBInsights crunched the numbers on a cohort of 1,027 tech companies that raised seed funding in 2009 and 2010, through to late 2015. They found that the chances of becoming a Unicorn via exit or valuation are 0.9%. Of course, the numbers are likely to be different today but it does give a sense of perspective.
Chinese Fintech Sets New Record
Fintech Ant Financial is a Alibaba spin-off operating Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Credit and MYbank. They claim to reach 450M consumers, micro & small businesses. Their $4.5 billion Series-B round and a $60 billion valuation is being heralded as the largest tech investment ever.
Cutting The Odds of Failure
Mark Suster (on his new rented home) urges every founder to find answers to six basic questions when starting out or raising money. The questions are about market size, market structure, incumbent strengths & weaknesses, ‘microeconomics’, competition and history. A must read.
All Roads Lead to The Digital Wallet
Andreessen Horowitz’s Fintech-focussed partner, Alex Rampell, makes a compelling argument that the Digital Wallet (Apple Pay, Samsung Pay, Google Wallet) is fast becoming the gateway for all consumer financial services. Credit & debit cards will get subsumed into a new stack of services that is turning traditional player worlds’ up-side-down whilst creating enormous opportunity for fintech startups who understand how best to position themselves from a technical as well as a consumer standpoint.
China’s Fintech is Light Years Ahead
Haydn Shaughnessy, author of the upcoming Platform Disruption Wave argues that China’s fintech is light years ahead of US/Europe. They have a $100 billion war-chest, a 1 billion people home market, and are well positioned to dominate the African, Indian and Asian markets. They are taking a radically different and in Haydn’s opinion, way more effective approach to owning ‘banking’ than the West. Fascinating how this plays into Chris Dixon’s point below…
The Internet Economy
Chris Dixon digs into the economic loop that underpins how today’s economy works. He likens the way it works to a train-set where traffic (audience, leads, customers) are constantly being switched around you by new players and unexpected new moves by existing players. He identifies 6 trends: 1) automation of logistics, 2) web to apps, 3) TV to mobile devices, 4) voice interfaces, 5) artificial intelligence. Note how China’s advantage is in having integrated logistics into the fintech stack. Another must-read.
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