Where should you spend your marketing budget? What should you do with your advertising money?
Marketing fundamentals in this spinoff here, ladies and gentlemen…
When launching marketing or advertising, always look for the low-hanging fruit. Spend money FIRST and foremost in places where you’ll get the most immediate return. (There’s a catch, but that’s for later.)
Scale that until you can no longer scale it meaningfully.
Then go to the second best option.
In advertising, you typically want to start with intent-channels » this means targeting buyers who have problem/product awareness, ready to buy. For example, anyone who types in terms relevant to buying your service on Google search has intent.
Another example: events like relevant trade shows/conferences (on and offline), where a good portion of people are solution and problem-aware, are intent-channels.
Where does the profit lie? Certainly not in the low hanging fruit places. The greatest potential lies with people who are just problem-aware, or not even that.
Buyers whom you know would find your product useful, but they’re not even aware of their problem or need to change their perspective about their situation.
LinkedIn is a channel for engaging these folks. A non-intent channel.
You should always be nurturing people’s thinking and spending at least 20% of ad budget on framing people’s thinking, who, when the time comes, may not even consider other solutions besides yours.
That’s how powerful it is. But it’s a long-term game.
The good news is: you will inevitably capture some intent-demand while playing the long term game. It happens all the time to clients and us, in the form of inbound leads from LinkedIn.