How I Think About Marketing
By Neil Patel
I thought I would let you into my mind, so you can see how I think of marketing.
The way I strategize to grow my own company.
And what you’ll read next will probably come as a shock, as I don’t really view marketing in the same traditional way you read online.
Now before I dive in, let me give you a little bit of context.
My company is NP Digital. It’s a digital marketing agency where we help companies of all sizes grow.
That’s where I focus my marketing efforts… to grow NP Digital.
Digital marketing will only take you so far
Even though I am a marketer, I don’t believe marketing alone builds a massive company or brand.
Just think of it this way, the number of people that search for the term “shoes” is roughly 1,220,000 per month just in the United States.
But Nike, sells more shoes than that in the U.S. each year and they aren’t the only shoe company around.
How could that be?
People don’t always “search” for what they are looking for.
When I buy shoes I typically just go directly to Nike because I am familiar with their brand and their products. I don’t think I have ever Googled for shoes.
The same goes with ads, yes, I have been shown ads for shoes on Facebook and Google, but it’s never led me to purchase a shoe.
Now that doesn’t mean marketing or SEO doesn’t work. All of that helps you build a brand, which is what causes the majority of purchases.
Here’s an interesting stat that you may not know… 59% of people prefer buying products from brands they are familiar with.
That’s why there are so many more shoe sales in the world than searches. It’s estimated that there are 14.5 to 19 billion shoes purchased each year, but yet the online searches don’t even make up 1/20th of that number.
And when you look at Nike’s brand, they generate more searches on a monthly basis than people just typing in the word “shoes”.
It’s roughly 5 to 1… for everyone person typing in “shoes” into Google, 5 type in “Nike”.
That’s the power of building a brand.
Time solves all problems
Because you are here, you are probably somewhere familiar with marketing and you may even be an expert on it.
But let me ask you this question… have you heard of the following brands?
- Wunderman Thompson
Those are all ad agencies that have thousands of employees. But yet most of us, even though we are familiar with marketing have never heard of them.
And it doesn’t mean they don’t have a small brand, they more so have a large brand within a very specific audience segment.
And that audience is their ideal cliental”. If you are a large company that can spend $25,000,000 or more on marketing each year, you probably are familiar with those companies.
So the key isn’t to just build a big brand …read more
Source:: Kiss Metrics Blog