loading words...

Feb 03, 2019 11:53:28

Marketing like a boss.

by @keni PATRON | 200 words | 314🔥 | 318💌

Keni

Current day streak: 314🔥
Total posts: 318💌
Total words: 79178 (316 pages 📄)


I recently watched the Fyre festival documentary on Hulu and on Netflix.

My first reaction - In AWE of the marketing genius behind it. 

The execution of the marketing was methodical. If you have any doubts about the power of marketing, watch the documentary. 

What I think made the marketing work is:

1) Spending the appropriate amount of time, skill and money on marketing. No compromises. They hired the best agency with enough time to create the necessary marketing creatives.

2) They identified exactly WHO their target market was. Had they made a mistake on this and spent the time, money and effort on the wrong customer - it would have been an even bigger failure. 

3) They zoomed in the emotional trigger to capture the attention of their target market - fear of missing out. Their social media posts were all addressing this emotion. 

I have watched these 2 documentaries a few times. I am now looking for YouTube videos and blogs that discuss only the marketing portion of the festival.

I need to learn this stuff and execute for my own business. 

So many of you here are marketing gurus, any takeaways that the mere mortals like me didn't notice?





From Keni's collection:

  • 1

    @keni It was almost exclusively buzz generated by influencer marketing. They paid ridiculous sums of money for it. Seemed to me a lot more like throwing money at a problem (how to generate buzz) and capitalizing on it than brilliant marketing strategy.
    I'm not saying it wasn't a good plan, but when you have $250k to throw at a Kardashian for one Instagram post, and that's only a fraction of your budget, you're not exactly a genius. You're just rich.
    Curious to hear how you might pull off a similar result without that kind of money...

    Gabriel Greco avatar Gabriel Greco | Feb 03, 2019 18:17:28
    • 1

      @keni @gabrielgreco

      I think the marketing worked very well because influencers are still seen as one of us. They aren't seen as fake celebrities doing endorsements.

      However, because of the fallout with things like Fyre festival and general awakening of the public to how influencers actually make money, this same strategy won't work in the future.

      Abe avatar Abe | Feb 03, 2019 23:09:54
    • 1

      @gabrielgreco @abrahamKim - Thank you for your comments...

      I agree that it was an insane amount of money spent on marketing but I think knowing that marketing is important enough to spend that much money on it is a skill - one that I didn't posses. I have heard about the $250K and we could have a debate on if it was a good ROI had this festival actually happened as promised.

      My question to you is, does everyone who has a marketing budget actually execute it well? I am new to marketing and I struggled to get any amount of traffic or attention to my business so this is my first exposure to this level of execution.

      I have nothing like that type of marketing budget... But what I am learning from Fyre is the importance of planning both with the marketing but also the launch of a product. I am seriously looking into micro influencers to start talking to early. I need to work harder on understanding who my customers are and what they need. So much to learn and apply...

      Keni avatar Keni | Feb 03, 2019 19:04:16
    • 1

      @keni I 100% agree they did a good job identifying their audience and the best way to quickly pull them in. It was a perfect match between their strategy and audience, and that was the only thing they did right.
      To be honest, it just goes to show that if you have the money to spread your message online, there will be no shortage of dummies to buy whatever it is you're selling.

      Gabriel Greco avatar Gabriel Greco | Feb 04, 2019 22:27:51
    • 1

      @keni

      According to great marketers like Gary Vee, Sam Ovens, and Alex Becker, most people do not actually know how to market well. That's why anyone with large marketing budgets often get scammed on low ROIs not because the digital/marketing agencies are actively scamming them, but because there are so few marketing agencies. The one who ran Fyre Festival is an exception.

      What kind of things have you tried marketing? I've been into learning sales/marketing/business lately. We should try to do some marketing exercises together.

      Abe avatar Abe | Feb 04, 2019 23:36:48
    • 1

      @abrahamKim - How did I miss this comment? I think this was the day the server had issues. I have sold products on amazon and on crowdfunding sites. Crowdfunding is all about marketing.

      I have made a few posts detailing my past attempts at marketing...

      - First general post about why I hate marketing - https://200wordsaday.com/words/marketing-31125c3395736d9d5

      - This was a detailed post about my journey these last two years - https://200wordsaday.com/words/cause-and-effect-67075c52463687df8

      I am game for a joint marketing exercise.

      Keni avatar Keni | Feb 06, 2019 21:46:00
    • 1

      @keni

      Haha I've read those two posts before!

      What are you trying to market currently? Maybe we can turn a part of that, your current work, into an exercise we can collab on.

      Abe avatar Abe | Feb 08, 2019 16:22:16
    • 1

      @abrahamKim - My product is a journal based around fear. I am planning a crowdfunding campaign for the second edition. I am hoping to have it done in a few weeks. It will be my second kickstarter so I am focusing on the marketing.

      How do you recommend we do this exercise?
      And thank you :)

      Keni avatar Keni | Feb 08, 2019 17:10:56
    • 1

      @keni

      Would you mind sending me a link to the first kickstarter campaign? You can do it to my email if you don't want it on here.

      [email protected]

      I was going to suggest that we do a strategy session to figure out what the best marketing exercise would be.

      Abe avatar Abe | Feb 09, 2019 22:57:40
    • 1

      @abrahamKim - Email sent.
      Thank you.

      Keni avatar Keni | Feb 10, 2019 00:02:55
    • 1

      @keni

      Thank you! I got it. I will reply to it sometime this week. Excited that we have transcended our relationship past just in 200wad but onto the email zone!

      Abe avatar Abe | Feb 10, 2019 23:53:56
contact: email - twitter / Terms / Privacy