What a High School Shark Tank Competition Can Teach You About Marketing
Your Digital Marketing Coach with Neal SchafferApril 28, 2022
00:19:3113.48 MB

What a High School Shark Tank Competition Can Teach You About Marketing

Can you summarize your current marketing program in a 30-second elevator pitch?

And if you could what would it include?

This episode is inspired by a shark tank competition for high schoolers that my children competed in and looking at your marketing in fresh eyes through the perspective of teenagers!

You are guaranteed to look at your marketing in a different way after listening to this episode...

Key Highlights

[01:54] What is a High School Shark Tank Competition

[04:38] The Gaps Between Digital Marketing Resources and Materials

[05:32] The Approach to Determining a Product to Sell

[06:30] Some Compelling Presentations and Projects in the Competition

[07:35] The Stages of Funnel

[08:16] Stages of Funnel That Were Common From All Pitches

[10:01] How Should We Do Influencer Marketing?

[10:36] Leveraging UGC To Gain Credibility

[10:47] Where Influence Becomes Important

[11:58] The Biggest No-Brainer For Marketing Today

[12:54] An Example of Simple Lead Magnet Equation

[15:01] Do Your Own Shark Tank

[15:36] The Component that Helps Me Build People Relationship

[16:52] How Can You Start to Better Leverage Influencers?

Notable Quotes

  • Sometimes we really need to dumb down what we are doing. 
  • When I was in high school and thinking about business, it was really about what were my needs? What were the needs of high school friends, and what can I sell to them, right. And I think that these high schoolers had really the same approach just based on their own experiences as to what sort of product that they could sell.
  • If you think about it in the funnel, in terms of brand awareness, search is a great way to get brand awareness.
  • it's such a no brainer in 2022 that it still shocks me that a lot of brands still ask, well, what's the ROI? Why do we need to do influencer marketing and it really brings me back to the early days of social media marketing, where people We're asking the same thing. The question isn't, do we need to do influencer marketing? The question is, well, how do we do it?
  • But at the end of the day, it's going to become more pay to play until you actually have customers where you can republish their content.So until you get to that point, it's really, really hard to break through the noise, starting from zero followers and get that brand awareness that we all want to get on social media. And that's where the influence has become even more important, especially at the beginning, when you don't have brand awareness.
  • And to me, it was sort of a pat on the back that riding the age of influence, and evangelizing influencer marketing is the wave of the future.
  • It comes down to a combination of all these. Yu can't have one without the other.
  •  But really, it's the email component that allows me to build that deeper relationship and ultimately convert people, as my data has shown.

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