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As business owners can we just be real with ourselves for one minute. Are there decisions you make in your business that are based off emotion and not data and facts?
Let me get more detailed about this.
I have been pondering this question for awhile now. Why do small business owners keep marketing on traditional platforms (radio, tv, billboards)? Why do they keep blindly wasting their money?
I started thinking about the history of marketing, which is staggeringly short. Basically if you look at marketing you see three huge pillars.
1. Print
2. Radio
3. TV
Lets look at the history, I have heard it repeats!
Print- Most would say print started in 1729 when Benjamin Franklin published the Pennsylvania Gazette which featured printed advertisements. 1742 brought another Benjamin Franklin milestone, the creation of General Magazine printing the first American magazine ads. Then during the 1800’s we begin to see advertising agency, full-time copywriters, and a business start to emerge. Print remains the main form of marketing with some companies running million dollar advertising budgets. This continues until 1922 when our second pillar made its debut.
Radio- 1922 a New York radio station offers 10 minutes of radio advertising to a company for $100 marking the first radio ad sold. 1938 Radio surpasses magazines in advertising revenue. But, don't fall to in love with radio because a beast in TV is about to emerge.
TV- 1941 the first television ad is ran before a baseball game between the Dodgers and Phillies.
Its a strange thing when you really dig into it. As marketers we have basically had 3 platforms. Print from 1729 to 1922. Radio from 1922 to 1941 and TV from 1941. I understand that each would blend over past those years and that radio and print are still going on today. Stay with me. Lets get back to the start now that we had our history lesson.
Like anything you would see some companies that would transition with the changes and some that would stay. When advertiser switched from radio to TV many companies died because of their inability to adapt. You had comfy CEOs that did not understand this crazy new thing TV and thought it was a fad. Those companies died! The companies that took advantage of the change thrived and launched themselves into the next generation. (Sound Familiar)
1993 The internet is awaken with 5 million users worldwide and here rises our fourth pillar. With the internet a child of the other three pillars is born, a mix of print, radio, and TV. Email, Google Ad-Words, banners, YouTube, Facebook, Twitter, Instagram, SnapChat, and Podcast all living on the internet. If you ever listen or watch Gary V you will remember his idea that Youtube, Facebook, SnapChat, and Instagram are the new NBC, ABC, and CBS. We are in the middle of marketing evolution and like history some see and some do not. The internet is to TV as TV was to radio. The little brother that is moving in and taking over.
I think the difference in this change is how quickly it is happening. When TV emerged it still took 40 years for cable to be created. It was a buffer for some to understand the change. The internet jumped to cable in 10 years. The second big difference is how small business are being effected by it. Some are exploding (in a good way) and some are dying quickly and it really all comes down to who is capitalizing on this change and who is sitting back.
It really does not matter why your sitting back, fear, ignorance, romance with the other three pillars, or a mixture of all. Which it all makes sense. At this point we have two ages of business owners and marketers. One that was around pre internet, and one that came right as the internet was about to explode. One that does not understand the current stage of the internet and how it works, but knows the history of TV and radio and understand how it works. The last age group is the one that only knows post internet. If you think this group of entrepreneurs are going to have to wait 15 years to make a splash you are already wrong. Example, Mark Zuckerberg (FaceBook), Evan Spiegal (SnapChat), Kevin Systrom (Instagram), Travis Kalanick, Ryan Graves, Garret Camp (UBER), and Jack Dorsey (Twitter). If you are a small business owner that does not understand the next generation of marketing I would advice two things. One, go onto YouTube search how to on Facebook, Instagram, SnapChat and Twitter. Take twenty minutes on each of these mediums and learn the basics of them. Two, find a trusted agency or team that can help lead you in a direction and watch you, or does it all for you. Ether way you still have that base level skill to make sure you are not getting hosed.
Bryson Shaw.
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