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The MarketingBlueprint
By Jules Marcoux
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Copyright © Jules Marcoux
All rights reserved.
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The Marketing Blueprint
Lessons to Market & Sell Anything
Jules Marcoux
Copyright © 2016 Jules Marcoux All rights reserved.
ISBN: 1514625768ISBN 13: 9781514625767
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AcknowledgmentsI want to start this book by acknowledging the
people who pushed me to make it possible. I want to thank my parents: Francois, Julie,Nathalie, and Richard, for giving me the chanceto act on my dreams. It’s not easy to raisesomeone with an entrepreneurial mind-set likemine. I did not want to go to school, I did not
want to get a job, and I was messy at times. I canunderstand why you felt I was a lost causesometimes; I felt the same way occasionally.
There is no prewritten plan for entrepreneurship;I’ve simply had to do whatever I could to achievemy vision. I’ve progressed quite a bit throughout
the years, and it’s because of your help. You’vegiven me the chance to show you what I coulddo, and you’ve helped me the whole way. I hopeyou are proud of who I am, as you’ve providedthe fundamental pillars that I needed to become
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an effective entrepreneur. Although I still have a
long way to go, I feel I take a new step every day.I will take advantage of every second of thisjourney.
“ Just because the road ahead is long, is noreason to slow down. ”
— Ralph S. Marston Jr.
I also want to thank other people close to me who have helped make this book a reality. Firstoff, I want to thank Patrick for helping me editthis book. It’s hard to write a book in English
when your first language is French. I want to
thank my friend Jimmy for letting me come to hisplace and brainstorm on life and philosophy;those sessions helped me to think deeper and tolook at marketing concepts as an art and not justa business.
I couldn’t have done without the advice of mygirlfriend, Florence, and my sister, Anaïs. Theyhelped me cope with the stress I experienced
while writing this book. I may not have taken alltheir advice in stride, but I truly appreciate all theenthusiasm they had for my project. I want to
thank everyone who believed I could write amarketing book at twenty-one years of age.Finally, I want to thank all my loyal followersacross all media. Without your support, I wouldhave never decided to write this book, and I
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would most certainly not be where I am today.
Thanks, all of you; I love you all.
Even though these pages are meant to be thefirst you read, they are the last I’m writing. I
wanted the start of this book to be introspectiveabout the experience of writing a marketing book.It has been an insane ride; it changed my life. Ilearned more about myself and about marketingthan I knew before, and I hope that evolution isreflected in the book. I’ve made new connections,I’ve made sacrifices to spend more time writing,I’ve received a lot of love from around the world,and I’ve received a lot of hate from people who
said that I was not going to be able to accomplishit. But most of all, I’ve learned about life andhappily achieving instead of achieving to behappy.
“ The book that will most change your life is
the book you write. ” ! Seth Godin
I did not write this book with the idea that Iknow everything. In fact, I barely know anything.
We are all in the same boat. The greatest
marketers understand this and happily proclaimit. Of course, I know marketing; I learned itthrough hard work. Any marketer needs a solidbase, but beyond that, the process is all abouttrying, being creative, having a vision, and not
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being afraid to execute. The world of marketing is
in constant flux; to stay on top, you have to learnnew things every day. A diploma may get yourfoot in the door; ten years in, however, yourresults are entirely dependent on your willingnessto stay active.
I am not some rich person trying to convinceyou that I will make you rich, too, through what Iknow. I myself am not a millionaire—yet. I didnot sell my business to Apple or Microsoft formillions of dollars. I had the chance to use myexperience in my various ventures to create asuccessful consulting business. My untraditional
vision and concrete results with my clientsallowed me to build on my initial success.
This book is a summation of what I’ve learned,from working with clients, going out to dinner
with marketing mentors and entrepreneurs,
talking with CEOs and marketing managers fromsuch businesses as Barnes & Noble and Walmart,reading marketing books, working my way up,and going to seminars and conferences. Despiteall these great sources, my greatest teacher hasbeen my own life: I dropped out of school to
grow my brand, and I went from having nothingto having an impact on over one thousandbusinesses.
Some entrepreneurs wait until they are very far
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into their careers to share their knowledge and
their stories with the world. I’ve decided to take adifferent approach; I decided that I would takethe world with me on this journey towardsuccess. I am grateful that you’ve decided to joinme on this path.
I’ve tried to make this book as simple andcomplete as possible. You can read it from coverto cover if you choose, or you can read randomchapters. This book is meant to teach or reteachyou to hone your marketing skills. I chose tomake it as timeless as possible, so that it remainsjust as effective in the foreseeable future as it is
now. I handpicked for inclusion the best adviceI’ve given clients and the greatest lessons I’veever been given.
Marketing books have one frequent flaw. Theyare too centered on theory and designed for a
classroom environment. Theories can be excellent when explained well, but books that cite themnever seem to show practical situations to usethem in. I decided to make this book much morepractical than theoretical. Whether you are aCEO, a marketing manager, or an entrepreneur
starting out, this book will give you a fresh,young, and practical view on marketing. It willhelp you become a better marketer.
Having learned the core basics of marketing,
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I’ve concluded that marketing is all about havingideas and executing them with intuition, smarterstrategies, curiosity, boldness, and passion. It ismuch more than knowing fancy terms that comefrom a textbook. It’s about accomplishingsomething—and having fun!
I hope this book reflects how strongly I feelabout the art of marketing and how much fun itcan be to succeed in this amazing industry.
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About MeI was born in 1994. I may be young, but, as
you will see, that has never stopped me. Let me walk you through my life. I always had theinstinct of an entrepreneur, even as a child. I wasborn with an urge to learn and succeed at
everything by myself. I taught myself violin at fiveyears old. When I was eight, I wanted to becomean actor, so I took part in all of the plays that Icould. I may not be a famous actor, but I haveconsistently proved to myself that I can doanything I set my mind to.
At ten years old, I started selling postcards atmy mother’s hairdressing salon. Since then, I’venever had what you’d call a “traditional” job. Atthirteen years old, I learned how to code bymyself, and I coded my own search engine. I used
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my coding knowledge to start a small website for
business development.
When I was fifteen, I decided to leave myhometown to play basketball in Michigan. I didnot know anyone there, so I began e-mailingschools to find out if they were looking forbasketball players for their summer programs. I
was not a very proficient English-speaker; Iheavily relied on Google Translate tocommunicate. One program accepted my requestand found a family who would put me up. Istayed with the family for six months and learnedEnglish in the process.
When I was sixteen, I put all my money intorecording equipment for audio and video. Mygoal was to become a recording artist. Two yearslater, I was touring my province and racking upover one million views on my music videos. I also
used my equipment to record other artists. As I was working on this new venture, I had anepiphany: I had become an entrepreneur; this was
what I wanted to do as a career. So, to make thathappen, I began absorbing as much business andmarketing content as I could.
While I was in the middle of my musicbusiness, I started a club-promoting business.
These events were where I first got to use myknowledge in real situations. Some of my parties
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generated $3,000 a night.
As you may have guessed, all these venturescame at a price: I had to leave school to properlypursue them. I believe, however, that I am nowjust as knowledgeable, if not more so, than anyIvy League graduate. I taught myself with booksused in university, and I have had the mostpowerful teacher of them all: experience.
One day, I had a realization: If I am successfulmarketing my own projects, then why not earnmy living helping other people achieve theirs? I
started with one client and saw my client list growlonger every day. I learned marketing the hard
way, but I don’t know everything. If you meet amarketer who claims to know everything aboutmarketing, do not hire that person. Marketingconstantly changes; no one can ever know all
about it.
I have seen clients increase their revenue by400 percent in the two months I worked withthem. I’ve had the chance to see companies growfrom $40,000 to $3 million in annual revenue. In
other words, I have helped my clients see asmuch success as they and I could. I have worked
with some of Canada’s top brands and recentlytook my platform to the international stage,thanks to the Internet.
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I believe in the idea of generating a followingonline. With the large audience I have gained, Icould become an endorser of various projects.One of my notable investments include aniPhone game with a $1,000-dollar advertisingbudget. It currently has three hundred thousandin iTunes. That’s huge, and I am proud of it. Ifever the game interests you, go ahead and look up“Squid Up” on iTunes.
In 2012 I invested in a small clothing brandcalled Wuup Clothing. I saw its potential, and Ijumped right in. One year into my initial
investment, the brand climbed 2,400 percent inmonthly revenue. I sold my shares at that point tofocus on my consulting business and other futureprojects. My one year with Wuup taught me quitea bit about managing start-ups.
I am currently dividing my time working on writing, consulting, creating marketing-information products, and building my personalbrand. I also have several side projects, includingsome small-time investing in the stock market.
When I am not working, I try to travel, read,experience new things, eat good food, and enjoylife as much as possible.
Don’t be shy; follow my journey on Instagram
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(@julesmarcoux), on Facebook, and on my website (www.julesmarcoux.com) to learn moreabout my new projects and products. I oftenoffer free products for anyone willing to “lend anear.”
Cheers — to life!
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lesson #1
The “Coolness Points”
StrategyExperts keep talking about word of mouth andhow crucial it is to your business. They keepsaying that you need to have people talk aboutyou if you want to succeed. But they never reallytalk about how you can generate word of mouth.
The bottom line is that word of mouth is theonly way to not be tied to your advertisingbudget. That’s one of the most significant pointsof marketing.
Without word of mouth, the followingscenario (showing hypothetical numbers based onmy experience) can easily take place.
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You invest $10,000 purely for advertising.
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• 600,000 people see your ad.
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25 percent (150,000) are really interested.
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Of that 25 percent, only 50 percent(75,000) are willing to pay.
• Of that 50 percent only 10 percent (7,500) will take the time to call you or otherwisemake any inquiries about buying.
•
Of that 10 percent, you will close only 10percent (750).
• Let’s say your product earns $115 inrevenue per unit. Then your total revenueis $86,250.
•
You have invested $10,000 in advertising,
and it generated $86,250 in revenue.
Now in a vacuum, these would be solid results.But once you account for business expenses andcosts related to the creation and distribution ofyour product, those results don’t look so great.
On top of that, since there is no word of mouthoccurring, you will need to reinvest $10,000 toregenerate $86,250 of revenue. Also, keep inmind that the longer your ads are out there, theless people will pay attention to them. The goal isnot to earn more money by investing moremoney. The goal is to create more “brandadvocates” (that’s what we call people that talkabout your brand or product to their friends).
Another important point of marketing(especially advertising) is to create a brand that
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can go on “autopilot.” In other words, it sells
itself. Let’s tie this back to the previous example:If you had made it a point to integrate word ofmouth into your campaign, the initial $86,250could have turned into $258,750 if every buyerbrought you three friends. That’s a small example.Look at Walt Disney or Starbucks; they dependon having brand advocates to rake in newcustomers.
The trick is, you have to get people to want totell a friend about your brand.
I wish I knew the name of the person who
once said, “Money doesn’t talk anymore. Peopledo. That’s why you need to rethink yourmarketing strategy.” It is a quote that I like.Hopefully it is one that will prompt you at this
very moment to ask yourself, “Would anyone goout of his or her way to tell a friend about me?”
Regardless of what you are marketing, be it aservice or product, you have to ask yourself thatessential question.
If your answer is yes, then ask yourself, “Are
you sure? Why would people go out of their wayfor that?” Take time to reflect on that. Then askyourself this final question, “How can I makesure they’ll go out of their way?” There are plentyof strategies that can generate word of mouth,
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but I tend to lean toward a specific strategy,
which I call “Coolness Points.” Create ways forpeople to earn coolness points by talking aboutyou.
UNIQLO, a Japanese clothing retailer, doespop-up shopping events in different cities everyyear. For each individual event, they tell wherethis pop-up shop will be located exclusively toone bunch of lucky fans. These fans are the firstto know, and, because they are the first, they willtalk about it. The distinction of being first makesthem talk about it.
There is a restaurant in New York calledPlease Don’t Tell. All they have is a very simple
website with no information except for a phonenumber, and they never advertise. To enter therestaurant, you need to enter a phone booth, pickup a telephone, and then tell your name. Patrons
feel like they are in on a secret, and people willtalk about a secret. People love giving others theimpression that they know something othersdon’t. That knowledge provides coolness points.
Make information “exclusive,” and people will
talk about it. Here are some examples that cometo my mind, that could help you develop yourown coolness-points tactic.
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If you have a restaurant, try a secret menu.
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Starbucks grew its sales that way.
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If you’re marketing a hot sauce, havecustomers agree in writing that they won’tsue because it’s too spicy. Customers willbrag about how they consumed the hottestsauce ever.
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If you own a hair-salon, introduce a secretcard that gives customers a free glass of
wine when they visit you.
• If you own an online clothing store, givebonuses to customers for successfulreferrals and added incentives to join amailing list.
•
If you work in the music industry, offerexclusive songs and merchandise to themost dedicated fans.
• If you market watches, use influentialpeople to your advantage by sending themexclusive watches. They are likely to talkabout your brand very positively becausethey are being treated so well.
• If you run a hotel, use people’s enjoymentof high status to generate word of mouthby providing reward cards with varyinglevels. As customers advance through, say,bronze, silver, and gold levels, they willstay repeatedly and talk about their gueststatus within their social circles.
Therefore, no matter what type of businessyou are in or what you need to sell, make your
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customers see that earning coolness points andtalking about your brand are synonymous. Givethem the chance to brag a little bit. They will lovethis, and you will gain a larger clientele. It’s agreat, inexpensive method to boost profits.
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* * *
“ It’s art when your insurance broker says,‘You know, there’s a guy down the street who cansell you something better than I can.’ ” ! Seth Godin
“Marketing” in and of itself is not a bad word.
It can be malicious when it seeks to sell maliciousproducts. This is the golden rule that I abide by; itdirects my entire approach to marketing. I’verealized that for marketing to be truly effective, itcan’t emphasize selling, but it must emphasizehuman interaction instead; it must help people,
bring people together, and possibly contribute toa better world.
I try to call my family often. I try to go out with my friends often. I try to lunch with newpeople often, whether I have an ulterior motive
or not. I just want to become the best humanbeing I can be, to share love around me, and tohelp the most people I can. Honesty and love arethe best investments in business and life. I have alot of confidence in myself and what I sell.Forcing a sale on someone who has no need formy product would be a disservice to that person,myself, and society.
Chances are the product would not work forthe uninterested person, and trying to force thesituation would harm both of us.
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lesson #2
How to Rock Sales andBusiness-Development
MeetingsI often hear that marketing and sales are
different aspects of business. On paper, that isdefinitely true. However, I believe they belongtogether in what I’d call the “growthdepartment.” Marketing creates leads, sales closethem, and—this is key—successful businesses
recognize that these two concepts are joinedtogether, not separate.
Because of the Internet, growing a businesshas never been easier. But sometimes we forget
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the power of meetings and business development
done face to face. It is more important than everto create deals, forge partnerships, and tend tohuman relations. This train of thought pushed meto write a chapter about some points that I feelcannot be ignored when heading to a salesmeeting.
The incredible business plan that you willdesign to kick off your business will come in duetime. It is essential, however, that you know howto act in a meeting, to ensure that your ideal plangains the audience it needs.
Without further ado, following is my favoritechecklist for a great sales-meeting participation.
1. Dress for the sale.
It’s true that dressing for the sale can have a
powerful impact on the way you sell. Dressingnicely improves your own confidence and alsoaffects the way your prospect/client sees you.Even if you are having the meeting over thephone, strictly by audio, make sure you aredressed neatly. This will improve your confidence
and dramatically improve your chances to closethe sale.
2. Be prepared, do your research, and get thereearly.
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Make sure you arrive early to a sales meeting. Ialways try to get there at least twenty minutesbefore, and I find the closest coffee shop to themeeting site to gather my thoughts.
There is nothing more important than beingready. There is nothing worse than being late.
Top closers are always the first in the room.
3. Know your objectives heading into themeeting.
I’ve heard many clients and entrepreneurs say
they need to get more leads. I respond with byasking, “Are you closing the leads you have?” Doyou know exactly what to do when you have alead in front of you? So many entrepreneurssucceed in getting in front of people, but theydon’t know how to close once they’ve gotten
there. Make sure you know the goal of the salesmeeting beforehand. Is it to set up a demo foryour product? Is it to better understand the needsof your client, so that you can write a powerfuland concrete proposal tailored to those needs? Isit to close a sale? And if it is, what is the exact sale
you plan on closing? Your goal needs to beclear—crystal clear.
4. Find something of mutual interest and start with it.
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First of all, there are two things you need toavoid talking about: politics and religion. Thatsaid, always be sure to start with something (else)of mutual interest that will incite your prospect totalk about himself or herself. People love to talkabout themselves, and prompting them to do so
will help your potential clients to have confidencein you and appreciate you. Never start withsomething too direct, such as the features of theproduct you are selling, or something too soft andinsignificant, such as the weather.
5. Look into their eyes.
Eye contact is a very important aspect of asale. When you state your price, make sure youlook the potential buyer in the eye and say whatyou want to say with confidence. The worst thingyou can do is avoid eye contact when closing a
sale.
6. Make sure to follow up.
A survey conducted by the National SalesExecutive Association reveals that only 10
percent of sales professionals are following up with leads more than three times. And, did youknow that 90 percent of the sales are made duringthe fifth contact with each of your leads? In fact,according to this survey, 90 percent of the sales
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are made by only 10 percent of salespeople. So
let’s keep it simple and clear: if you want tobecome one of the best closers and marketersaround, make sure you follow up with your leadseven if there is no interest at the first meeting. Agreat follow-up is normally around forty-eighthours after your proposal has been read or yourclear presentation has been offered to yourprospect. It is up to you to keep the momentumgoing.
To help you prepare, here’s a simple checklist version of the steps to a successful sales meeting.
I am dressed appropriately for the sale.
I know the goal of the meeting.
I have done my research about the prospectand gathered all the important informationthat will help me close the sale (or accomplishsome other stated purpose).
I have arrived at least twenty minutes before.
I have found something of mutual interestand I will start the conversation with it.
I will maintain eye contact.
I have followed up about forty-eight hours
after the end of the meeting.
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lesson #3
The Best GrowthStrategy? Using Your
Phone This strategy is one of the most subtle,
effective business-development/sales strategies.Its power lies in its simplicity. Entrepreneursoften ask me to develop a crazy sales strategy
when the simple activity of calling potentialclients is often just as good, if not better. Despite
massive numbers of social media and methods ofcommunication, I believe one of the bestmethods to grow your brand is by making phonecalls.
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If you called ten people and offered yourproduct to them, chances are that by the end of
the week, you would make a sale. People likespending on themselves, and having a chance tohelp a starting brand while earning something ontheir end is a definite motivator.
I believe that the biggest reason why marketers
and entrepreneurs fail is that they do not ask tosell. Their products are not inferior; they don’tlack sales skills. But they simply don’t ask.
I have clients and friends who have growntheir businesses without any sort of social media
or advertising. They just called potential clients.
Here are some key questions marketers andsalespeople should ask themselves.
• Are you picking up the phone enough and
finding new prospects? Are you picking upthe phone at all?
• Are you sending enough prospective e-mails to gather new business and salesopportunities?
•
Are you reaching out to every single lead
you’ve gotten?•
Once you’re in contact with a prospect,are you selling or simply talking?
• Are you clearly asking for the sale whenyou are one-on-one with the customer?
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These are key questions that should beconsidered. Problems with selling tend to beaddressed by these questions. If any of theanswers is no, then you know what to improve.
Studies have found that the best way topropose a sale is to ask questions that cannot beanswered by a yes or a no. This can be employedat any point in the sale, from initial contact with aclient to trying to close the sale at the end. Thepsychological goal is to never have a prospect tosay no. For example, instead of asking, “Are you
interested in trying our product?” ask, “Whichday would be best for us to give you a demo ofour product?” When closing a retail sale, forexample, instead of asking, “Do you want toproceed to the cash register?” instead ask, “Willyou be paying by cash or credit?”
I used sales as an example, but this strategy isapplicable to anything that requires persuasion.
Therefore, in any area of negotiating, which is alarge part of business, avoiding yes/no answers is
very effective. I have personally seen changes in
my sales-closing abilities because of it. There areother ways that this strategy can be used, apartfrom directly phoning clients. For example, if youare an online clothing-brand owner, it’s obviousthat you won’t be calling potential buyers on their
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personal phones. Instead, use this exercise to callprospective wholesalers, distributors, boutiquesthat would be interested in buying in bulk, andeven journalists. They could serve as goodpublicity.
Go ahead and prepare a list of prospects you want something from, and indicate, beside their
names and info, exactly what you want fromthem. It could be anything; you may want themto buy your products, to give you contacts youneed, to distribute your products in theirnetworks, or to contribute in other ways to yourbusiness development. Evaluate how much you
attempt to make contact with new prospects, andincrease that number by 25 percent.
Sometimes the best way to obtain something isto ask for it. If you want more, ask more! Pick upthe phone more and write more e-mails; you will
be surprised by the results.
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* * *
When I began building my social-mediafollowing, I had no clear purpose for it. I just hadthis conviction that, in order to succeed, I had tobuild an audience. With this audience behind me,I felt more confident that I could succeed.
I became motivated me to create my ownpersonal brand, and its following started to grow.
At the time, I was not selling a product; I wasmerely consulting for clients. I just kept sharingideas and stories, hoping that the process would
eventually bring me the large following I coveted.I wanted to inspire regular people to dosomething with their lives, no matter what theirmotivations were.
As this book goes to publication, I count one
hundred thousand followers across all platforms.I am not saying this to brag; rather, I am proudthat, just as some random French Canadian, Icould manage to have such a large impact on the
world and share my knowledge with society.Hopefully, I can inspire others to do the same.
“ The reward of our work is not what we get,but what we become. ” ! Paulo Coelho
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lesson # 4
Build an Audience With today’s evolving technology, it has
become more possible than ever to build andretain an audience. Your ability to build yourbrand depends on how well you can cater to anaudience.
Many “Hollywood” types (celebrities, athletes,models, etc.) have large followings; however, Ibelieve making an audience for a brand is just aspossible to accomplish. Great marketers do notlook only for customers, but for fans, too.
I’ve always invested in my own audience, and
this gives me a kick start every time I launch anew project or product, as I already have peopleaware of my new offerings. This advice doesn’tonly apply to personal brands. I believe having astrong audience can give any brand an edge over
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its competitors. It directs sales where you want
them to go, and it creates many brand advocates.
These people can be very powerful at makingor breaking your company. People listen to otherpeople; hearing good things from peopleunassociated with the company is always a goodthing.
Audiences provide you with a shortcut whenever you are releasing a new product. You will gain an immediate sales base. Also,advertising becomes simpler, as your targetmarket is already awaiting your next offering.
Every audience needs to be nurtured, andtreated like it’s special. Make sure you sharestories, content, and free stuff with them. Keepthe rewards going, and establish a momentumthat consistently makes them feel grateful to be a
client of your brand. Sharing with your clients notonly helps them retain interest, but also gives youthe opportunity to spread your brand’s image andmessage in different media.
Following are some tips to building a loyal fan
base.
•
Build your e-mail list. Ask for customers’e-mails at the cash register, and/or put anopt-in widget on your website to incite
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people to subscribe. Give something away
in exchange for their e-mails.• Grow your social-media accounts.
Network with other like-minded groups toexchange content promotion, creategiveaways, and interact with more people.
• Give yourself a target growth number that
you want to achieve every week.•
Organize events to celebrate milestones. Itcan be effective to interact with youraudience in person as well as online.
• Attend more trade shows. Always seek toget attendees’ e-mails so you can reach
them.• Make sure you constantly update your
address list. Your audience is not onlyclients; business-development contactsmust feel important, too.
• Look into social-media advertising; it is a
powerful tool for anyone looking to buildan audience.
• Reach out to blogs, do some blog posts by way of outreach.
• Interact with a lot of people on socialmedia; in fact, become obsessive about it.
There are tons of ways to gain and grow anaudience. Experiment to see what fits your brandbest.
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An additional key point is worthy of mentionhere: B2B brands should never shy away from
building a fan base. I’ve seen many entrepreneurstell themselves that they don’t need to create anaudience, an e-mail list, or any social-mediaaccounts, because they sell to businesses.Remember that your B2B decision-maker is aregular customer after 5:00 p.m. Also, it has been
proven that businesses are more willing to hire abusiness that their customers love. So buildingyour brand and building an audience among thepublic, even if you sell to businesses, is just aseffective.
Take advantage of the fact that crafting anaudience is easier now than it used to be. Buildingan audience will help you rely less on advertisingto produce results, as you will already be talkingdirectly to your customers. Give yourself specificgoals to attain every week, and reach those goals
efficiently to really take advantage of the benefitsof having fans.
Create your cult following, and it’ll create yoursuccess.
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Lesson #5
Build a Pre-BuzzImagine opening the doors to your store for
the first time. You expect to see people runningin, pushing each other like it’s a Target on BlackFriday. Unfortunately, this will never happenunless you build awareness about your brand andmake people want to rush in.
Many entrepreneurs and marketers get thisbackward. They spend so much money, time,resources, and energy building great products anddistribution channels that they forget one of themost crucial paths to their success: creatingdemand. One of the most fatal errorsentrepreneurs can make is creating demand after
their products are released. They may have greatproducts, but no clients are interested. Soon,expenses start coming in. Now theseentrepreneurs must face their new worst enemy:time. They’re doing whatever they can to build
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awareness without any real foundation to build
from.
What they should have done was create “pre-buzz”; that is, they should have had clients beforethey launched their products. This strategy worksnot only in start-up companies, but for any “new”situation: launching a new project, product,entering a new industry, or reaching a newsegment of the market.
For example, an American brand trying toexpand to China would be wise to buildawareness a couple of months before its product
is distributed. The company could even startbuilding awareness before hiring distributors,
which would give it greater negotiation powerand a better chance to land better distributors dueto higher demand.
The distribution strategy should be plannedtogether with the demand’s growth. Think aboutit this way: the demand leads the rest. Focusingon demand as your indicator of business willgenerate more buzz and sales momentum. Thedistribution strategy will be built, step-by-step, as
the demand is established. Ask yourself whetherthe demand will sustain the distribution. A goodstrategy would be to sell online and with a fewselect retailers; once demand increases, you canstart looking at broader options.
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There are many ways you can build awareness
and increase demand. From general PR toadvertising to reaching out to people with highsocial influence, there are no bad methods to getthe population to talk about you. By increasingawareness, you have a higher chance of thedistributors already knowing about your product.
You will be able to negotiate better with them,since they recognize the business opportunity.
You will be in position of power.
When brand awareness has reached a level youare comfortable with, it is time to create thedistribution network you will need, through
developing contacts while you continue todevelop your business. This strategy waseffectively used by Cîroc, when it tried to enterQuebec’s alcoholic beverage market. Diageo wastrying to push its vodka brand through the doorof the SAQ (Société des alcools du Québec, the
governmental institution that controls liquor).Even though this process is much harder toaccomplish than in most areas, Diageo was notdeterred. It decided to market private events inrestaurants across the province, so people couldtry Cîroc before it had a market presence there.
When Cîroc finally got into the SAQ, salesskyrocketed.
In another example, Red Bull actually placedempty cans in various public spaces to create the
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impression that it was a popular beverage. Thecompany did this before it established a strongdistribution strategy. It was an incredibly clever
way to create demand for an unknown product.
In conclusion, always have customers lined upbefore distributing a product, whether they arefor a new product or for an existing product
reaching new markets. Then establish adistribution strategy that grows based on thedemand that has already begun.
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* * *
“ Life is like riding a bicycle. To keep yourbalance, you must keep moving. ”
! Albert Einstein
When you’re afraid of going forward, you fall.By advancing, you constantly prevent the worstthing that could happen: falling. You might fail,but look at it this way: A cyclist and someone
who is terrified of biking have an accident. Thecyclist will know why he or she fell, will makesure it doesn’t happen again, and will continuebiking. The other person will make sure it doesn’thappen by never biking again. The comparisonreminds me of something an acquaintance once
told me: Doubt will get you out of action, andaction will get you out of doubts.
Success is waiting for you. Stop overthinkingit, and move forward as if you’re in the Tour deFrance. You may not doubt yourself again.
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Lesson #6
Keep the MomentumLet’s get it straight: marketing is all about
momentum. The day you stop building yourbrand is the day it will start to perish. A lot ofpeople think a business can simply remain inplace. They think that once they reach a certainmilestone, they can stop and stay there.Unfortunately, in just about everything, nothingstands still; things either progress or regress.
I’ll use a metaphor to make this idea easier tograsp. See the marketplace as a steep hill you areclimbing, and see your brand as a big, heavy
wheel you are trying to push up this hill. If youkeep pushing, the wheel will gain momentum andkeep rolling, making the process easier. The onlything is that if you stop pushing, the wheel willslow down, eventually rolling over you on its wayback to the foot of the hill.
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Or picture yourself riding a wave. Once you
start riding the wave, you can’t stop. The fun partabout marketing is that the hill has no top, andthe wave has no end.
Have a look at the earliest megabrands, such asBaker’s (since 1765), Colgate (1806), Jim BeamBourbon (1795), Tiffany & Co. (1837), Mott’s(1842), American Express (1850), Jell-O (1897),
John Deere (1837), and Coca-Cola (1886). Whatdo they all have in common? They’ve kept theirmomentum going since the beginning. The factthat these brands have lasted this long is noaccident. Yes, there are some uncontrollable
external factors, but they pale in comparison to what marketers can control. Here are some keyconcepts that helped these brands achieve long-term excellence.
They see marketing their brands as marathons,
not sprints.
When you play the marketing game, you’replaying for the long term. If you stop investing inyour brand, your customers will go to thecompetition. The human brain forms habits, so
expect your customers to do the same. Don’texpect your brand to succeed exclusively on thestrength of a $100,000, two-week advertisingcampaign. You won’t win an award for customerservice by just smiling for two weeks.
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Here is one thing you must always askyourself: Can my brand and I sustain what we’redoing long term? For example, don’t invest$100,000$ in advertising for two weeks, unlessyou expect to be doing it regularly. Instead, youcould invest one hundred dollars a day and stickto that strategy for a long time. If you’recomfortable with just one dollar a day, that’s fine,too, as long as you keep the momentum at thesame rate. As profits rise, so can your budget. Butmake sure your actions remain constant. This willestablish a strong culture within the business andsend a consistent message to consumers. If you’re
a carmaker, for example, and you praise your carsas the safest on the market, stick with that. Don’tstart touting your speed; your clients aren’t withyou for speed, and new consumers will lookelsewhere. Your long-term message should notsee much change.
This doesn’t only apply to advertising. Everyaspect of marketing must hold the sameconsistent message. If red is a principal,recognized color for your company, use it ineverything; don’t suddenly swipe it for lime-
green. If you give free samples, do not suddenlystop.
Marketing is a never-ending race. To stay first,make sure you’re constant. By being constant,
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you will see your message become ingrained in
customers’ heads. With your message firmlyplanted, you can focus on conquering newmarkets, developing new techniques, buildingnew products, and executing new ideas. Make ityour mission to stay active as a brand.
They stay young.
Long-term brands, no matter how old, alwaysfind ways to stay “trendy.” If brand failure is amarketer’s greatest fear, being a “one-hit wonder”is the second greatest. We want to be able to haveour brands stay successful. We achieve that
through constant repositioning and never settlingfor the now.
Great brands recognize when their targetmarket loses interest. When this happens, theyreposition themselves to gain back attention and
loyalty. Great brands understand that if they stopinnovating, their products will lose power andattraction. And so they keep coming up with newideas and following new market trends; regardlessof whether they’re doing so for the sake ofmarketing strategies or for their core products.
Great brands look to reinvent themselvesevery day. It is how they stay relevant.
As you might have noticed, all these points
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have something in common: momentum. Brandsthat last are brands that move.
Of course, other elements have contributed to various brands’ respective longevities. However,all of them follow these three main pillars ofmomentum, which puts every chance on theirside for consistent success.
So think about the hill. You must push your wheel and never relent. You need to learn toconserve your energy, so that the wheel canalways move up. Burning yourself out in a minute
will bring you back to the bottom.
If you aspire to become a legendary brand,never settle. If you take a break from going upthe hill, others will push past. Learn from thepros that momentum is key for continuedsuccess.
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Lesson #7
Get the Name RightDeveloping an effective brand name is an
essential aspect of marketing your brand. It is thething that people will use to talk about you; it willbe there from your brand’s inception to its end. It
will define the personality of your brand.
People might say a brand is just a name. Onthe contrary: would Coca-Cola still be Coca-Colaif the company changed its name while retainingan identical product? No! The same goes forother well-branded companies such as Apple,
Kleenex, or Canon.
Avoid generic names.
Giving a generic name to your brand is the
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worst thing you can do. It worked in the early
nineties, but the early nineties have passed. Hereare a few examples of generic brand names: TheHotel Company, Hotels.com, BookStoresQuebec, Quality Clothing Co., Books.com,Shop.ca.
In 1997, McAfee, a leading Internet-securitybrand, bought Network Associates, anotherleading Internet-security brand. The buyerdecided to stick with the brand name Network
Associates. It invested more than $10 million intoits brand-new advertising campaign, whichincluded a thirty-second spot during the Super
Bowl. The campaign failed miserably. People were listening to the ads and wondering what thebrand’s purpose was! It is so generic that it passedthrough the heads of consumers without makingany sort of lasting impression. McAfee revertedto their original name a few years later, to no
one’s surprise.
The same thing happened to eToys.com, which invested large amounts of money to get thename into the heads of consumers, to no avail.
The name was too generic.
People are busy and don’t have time toconsciously learn about your brand, so develop abrand name that sticks instead of some genericterm. You’ll spend much less time trying to create
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a lasting image.
Make it significant.
Since your brand name will be the mostmentioned word(s) heard when the subject ofyour company comes up, make sure that yourbrand name is remarkable and significant.
I can hear the naysayers already: How can Iaccomplish that without a generic brand name?
You do it with personality. Up to 60 percent ofthe top global brands are completely made-up
words that display a touch of eccentricity. Nike,
Rolex, Adidas, Visa, Sprite, Kleenex, and evenNokia are examples. Through years of marketingefforts, those brands succeeded at making theirmade-up words significant. They didn’t takealready significant words; they made theirsacquire significance.
So the best advice I can offer to those whoneed to come up with brand names is to find outfrom their communities if their brand names fittheir brands’ personalities. It’s essential to keepyour brand’s values and target market foremost in
your mind. Would you call a new baby-clothingbrand “Alders,” whether it’s made up or not? No,you shouldn’t, because the name sounds like“elders,” which would be more suitable for olderpeople. If you are creating a comedy-events
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company, try to find a name that sounds funny
without being generic. Try to find somethingcatchy, young, and memorable; Just for Laughs isan example. Going for something that has amusical sound or rolls off the tongue is also aneffective method of naming your brand. So, goahead: brainstorm different names and try tocome up with six to seven different ones. Alwayskeep the personality of your brand in mind, and
work with sounds related to that personality.
Keep it short.
Think about the names I cited in the last
section: Nike, Rolex, Adidas, Visa, Sprite,Kleenex, and Nokia. The longest name in that listis seven letters. When I work with clients to findnew brand names, I always try to see if we canshrink the names we came up with. A greatexample of how a generic brand became a good
brand through name-shrinking is Intel, which wasderived from the original brand idea, the word“Intelligent.” It bears repeating: good brands arecatchy and easy to remember. That’s why I alwaysadvise clients to keep their brand names short— not more than three or (maybe) four syllables.
Short names stay in the consumer’s mind.
Do your research, and make sure you have agreat domain name.
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In the age of the World Wide Web, it isimportant to research your potential brand name.
When you’ve come up with a few namecandidates, make sure that you take the followingaspects into consideration.
• Your brand name should not soundidentical or close to any other brand name.
• Your brand name has no negativeconnotation in English or in any otherlanguage. This is imperative.
• You can have at least several domainnames with this name.
Brand naming is a fun process. Be creative andremember that the best way to have a great idea isto have a lot of ideas. Use all the imagination youcan muster to find the next brand that everyone
will instantly recognize.
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* * *
“Courage is not the absence of fear, but ratherthe judgement that something else is moreimportant than fear.” ! Ambrose Redmoon
I had a thing for being afraid; I was afraid offailure, heights, loving, starting something new,going somewhere, meeting new people—the listgoes on. I am still plagued by these fearsoccasionally, but I have learned to combat them.
I was terrified when I initially launched myselfinto the business world. I still have moments ofdoubt. In these moments, I realize that my futureand my present achievements give me no reasonto doubt myself.
When I want to act, I simply hold my breathand dive out of my comfort zone. I sometimescome back with treasure; I sometimes come back
with a worn-out old boot. But, each time, itbecomes easier to hold my breath and dive backin.
Don’t be afraid of the water. Who knows whatlies underneath it?
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Lesson #8
The Proper Way
to DiversifyProduct diversity is integral to a business’s
success. We all understand that business is aboutsolving the customer’s needs. By offering multipleproducts, you improve your sales, since you solvemultiple needs. Here are some key techniques andconcepts to develop your multiproduct strategy.
The first idea would be to offer differentproducts that solve different needs. For example,a law firm could begin offering a specialized
service for one of the problems their clientsexperience the most. Tech companies frequentlydiversify due to the various needs of customers.
Apple, for example, has the iPhone, iPod, and theiMac; all designed for different preferences.
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Software-service companies could sell tutorials on
how to optimize business software within abusiness. This is the first step to adopting adiversified product strategy. Evaluate yourmarket’s needs, and take advantage of what youaren’t currently offering but could feasibly offer
without radically changing your services.
Ideally your products should also promoteeach other for better effect. Apple’s Apple TVcan be used in unison with other Apple devices,
which promotes multiple Apple purchases.
One of my favorite ways to diversify is by
offering a wide price range for services.Subscription services comprise a business modelthat utilizes various prices effectively. Forexample, I offer a monthly gift service. Everymonth, I send a gift box to my customers. Onebox is worth twenty dollars alone. However, if
customers buy multiple month packages, I wouldoffer them boxes costing eighteen dollars each.
That way, depending on what they’re willing topay, there is another option for them.
Service providers benefit from multiple
products by offering premium and basic services. They gain negotiating power this way, as they donot rely on a single source of income.
Both price and product diversification should
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be used, and using them in unison yields the ideal
result.
Let’s take the Harvard brand, for instance. Asa lot of people cannot attend the school, it finds
ways to make its brand more accessible. Itpublishes books and online articles, offerscertificate programs, holds conferences andseminars, and more. The products not only solvedifferent needs, but they also come with differentprices.
As the famous investor Warren Buffett oncesaid, “Never depend on single income.” By
integrating multiple products into your brandstrategy, you not only reduce your risk, but yourcustomer base increases. This will also help spurinnovation and deter you from discountingproducts or, as previously mentioned, losingnegotiating power.
Here’s one thing to note: Before diversifying,always make sure you have the time, money, andresources to add the new product/service.Introducing a product too early in your brand’sstrategy can cause your initial product to suffer,
because fewer resources may be attributed toyour essential, most important product. Your first“second” product is always best introduced whenit is easy to scale and is a complementary productto your first offering.
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Make sure everything added to your brand is
synonymous with your message and only servesto strengthen your hold on your market niche.Becoming a jack-of-all-trades is not ideal, asfocusing on something always yields betterresults. Diversify your offerings, but stay focusedon your niche.
Bic is a good example of lack of focus. Theiroffice products were successful, so they decidedto branch out. They ended up selling underwear.
The product failed because, for one thing, ithad no link to what Bic was (and is) known for.Products should aim at attracting more customers
and reinforcing the previously set image that you want to uphold.
Broadening product lines can be a dauntingtask; however, successful diversity breeds success.Remember that, for diversification to be
successful, synchronization between all productsshould be for the goal. They are all cogs in theone machine that is your brand; they are notcompletely separate machines.
Think about how you can respond to more
needs, while remaining the same company you were beforehand. It’s time for a littlebrainstorming.
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Lesson #9
A Brand Is Only as
Strong as Its WeakestTouch Point
“ A chain is only as strong as its weakest link. ” ! Unknown
As a marketer, it is your duty to look at yourbrand from a third-person perspective. You haveto make sure all your brand’s touch points—allthe various ways a customer can interact withyour brand directly—are perfect. It is through
these touch points that customers will form astrong opinion on your brand; they will determine
whether customers become addicted to yourbrand or avoid it at all costs.
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Following is a list of sample touch points.
• Advertisements• Employees’ phone (and voice-mail) manners• Social media (by appearance and the
community attitude of your page)• Trade-show presence (how your kiosk stands
out from all the others)• Networking (handshake, business card,
business pitch)• Blogs (owned or contributed to)• Word of mouth (what people say about you
when you’re around and not around)• Direct mail and newsletters
• Public relations• Websites (affiliated with your brand)• Your logo and visual identity• Packaging and point of sales• E-mails (signatures, writing style, grammar,
etc.)
• Proposals to potential and active customers• Invoicing style• Speeches• Sponsors• Employees• Products
• Billboards• Design of vehicles• Anything else that your customers may be in
touch with before, during, and after a sale
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Every time your customer is in contact with
your company, the customer is at a touch point.Every single one matters as much as any other.
This chapter is not about how to optimize onetouch point in particular; I believe it’s themarketer’s job to optimize each touch point thebrand possesses. This chapter is about how toproperly evaluate your brand, that is, from theright perspective. When you probe for areas tocorrect, you must avoid bias. Using the rightperspective makes optimizing touch points aneasier and more effective process. Utilize thefollowing tips for developing a neutral point of
view while practicing effective optimization.
1. List all your touch points.
The first step is to make a list of all of yourbrand’s touch points. There are many; strive for
the longest list you can. Of course, it may be hardto find a large number if you are dealing withtouch points for the first time. But do not stopuntil you yourself are impressed with the listyou’ve created. I suggest entering the list into acomputer program such as Excel, in order to be
able to save and modify the list at your leisure.
2. Evaluate and rate.
The next step is to evaluate and rate every
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single touch point you listed. Don’t review them
yourself; have people unaffiliated with yourcompany do the evaluations. The goal is to have aneutral perspective. Bias in the evaluations wouldlead to inaccurate portrayals of the population.
Provide a universal rating system, so thateach touch point is evaluated the same way. Onesuch system could range from 1 to 10; 1 might be“Excellent” and 10 might be “Needs Immediate
Attention.”
If you feel you have a network of contacts thatcan perform the evaluations for you, do not
hesitate to ask for your contacts’ services.However, you should ensure that the surveys areanonymous; anonymity usually provides honestresults. Scientists typically run the same test overand over again to ensure their findings areconsistent. Don’t be afraid to do the same with
touch-point evaluations.
3. Take action.
The last step is to take corrective action, basedon your results. Start with the weakest points, and
correct them as soon as possible. Find at leastone action that will ensure that a given touchpoint will improve.
I always encourage my clients to perform an
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evaluation every two months. This way, quality
can be monitored on a constant basis andimproved when needed. Since every touch pointis equally important, not paying attention to onecan be deadly. I always like to say, “A good logo
won’t compensate for a bad product, and a goodproduct won’t compensate for a bad logo.” Inother words, all touch points need to besynchronized in terms of quality. Make sure toconstantly maintain this standard.
Do your homework to determine that everyclient is satisfied with all touch points. It can onlybe good for your brand.
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Lesson #10
Give the Spotlight toYour People
A great brand is all about its people. From theCEO to the marketing manager to the sales staff,a great brand reflects the idea that its people areits greatest asset. As such, the best marketersalways seek to improve the personal branding oftheir teams, because the better yourorganization’s team is, the better your brand is.Customers love to do business with people; theyenjoy the sense of having totally humanrelationships within the corporations they givetheir business to.
Having a great personal brand also helps toimprove your credibility in the eyes of yourbusiness contacts. It could help your employeesclose more deals and attract better business
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opportunities, thereby giving you an advantage
over the competition. The feeling of havingpersonal relationships with their contacts alsomotivates customers to stay loyal.
As is constantly stated throughout thesechapters, your people strategy must be in sync
with your brand image. The best way toaccomplish this is to see the personal brand ofyour people as an extension of your business. Ifyour company is called Pineapple Music, forexample, make sure that the personal brand youare creating is not just “John,” but “John fromPineapple Music.” In other words, giving your
employees a brand of their own allows them tobring more value to your organization as a whole.It allows them to have a more “human” feel, topromote better, and to communicate to clientsthat your organization only hires the best talent.
Two of my favorite examples of successfulpersonal branding across the entire organizationare Google and the Virgin Group. If you workedfor either company, no matter what your role,you would be guaranteed the right personalbranding and the tools to develop it, which is
very beneficial for the organizations. Eachpersonal brand works to promote its company,and the company works to improve the brand ofits people, creating a long-lasting, successfulsymbiosis.
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Here are some key concepts to help yousynchronize your team’s personal brand with the
entire brand of your organization.
• Make your brand’s purpose clear, andmake it something that employees will
want to promote. The clearer thestatement, the easier it is for people to
participate.• Help your employees discover their
individual uniqueness and what they canoffer their company.
• Give your employees a voice.
•
Give employees, potentially your bestbrand advocates, the tools to do thatadvocacy. Provide an employee website,an employee-run blog, or social-mediapages where employees can share contentamong themselves and with clients.
• Involve employees in your business’sevents. Invite them to speak at keynoteevents and to take over at conferences. Beproud of your team, and display your high-level trust in its members.
• Make employees want to improve theirbrand. Make them proud to be a part ofyour company and committed to sharing
with the world just how great it is to bepart of your business.
Don’t forget about yourself. As an
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entrepreneur and marketer, you have to ensure
your personal brand is being catered to andimproved. Doing so will also add to your success.
To summarize, improving your team’s image ismutually beneficial. Employees feel betterknowing that they are valued in their workplace,and their feeling of satisfaction can bring yougreater business opportunities and increasedsuccess. Use the same techniques and mentality as
with your brand, and apply them to its people.
Three essential questions should guide yourteam branding: How can my team enjoy more of
the spotlight? How can we show off its members’unique skills and experiences whilesimultaneously benefitting the company? Howcan we improve its personal brand, just as we’dimprove ours?
Be proud of your team; it is your brand!
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* * *
My first experience with leverage occurred when I was fifteen years old. I was marketing myown musical projects, and one night, I discoveredthat I could monetize my YouTube music videos.My entrepreneurial instincts motivated me to trythe service out.
The next morning, I noticed I had earned fiftycents overnight. At the time, I felt like the world
was my oyster. I had heard that greatentrepreneurs make money in their sleep, but hadnever known what that felt like until thatmoment. It didn’t matter to me that the amount
was minimal.
Those fifty cents, which may not be much, letme know what it meant to earn money doing
what I enjoyed, and, from that point on, I stroveto continue achieving that same feeling ofsuccess.
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Lesson #11
Hard Work Does Not
Necessarily EqualResults
An old adage tells us that the harder you work,the better your results become. I find thatincorrect; I believe that the more leverage youhave, the better the results. As marketers, weneed to work smarter instead of harder. We havethis mistaken impression that the more hours weput in, the better the outcome will be.Unfortunately, the world won’t give you $1
billion because you worked hard or “deserved” it. The universe doesn’t care. You can only expectsuch results when you’re offering something ofthat much value.
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Great marketers understand this.
Let’s consider a simple example in which yousell apple seeds. Luckily for you, you are the onlyone who sells apple seeds, so you get to sell themat your price. Do you believe you’d have to workhard for your business to succeed? No, you
wouldn’t, because what you offer is unique and its value is immeasurable.
Sadly, most entrepreneurs and marketers don’trealize that results aren’t proportional to theamount of work put in. Of course, working hardcan help in many ways. But it cannot be effective
if it isn’t combined with increasing value andscalability.
Value.
“If I had eight hours to chop down a tree, I’d
spend six hours sharpening my ax.” ! Abraham Lincoln
Value by definition is the worth of something;it describes how useful that something is. Themore you increase the value of something, the
more it is worth. I’ll write that again, because I want you to read it again. The more you increasethe value of something, the more it is worth.Read it again and again; plant it firmly in yourhead.
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When I started my consulting business, I was
under the impression that the more hours I could work in a week, the richer I would be. So I was working hard, finding new clients, consultingmore, having Skype conferences, and havingmeetings. It felt good in the moment, but I wasstill working at the same rate week to week. I hadeffectively plateaued. I had no time to increasethe value of my business. One day, I decided I’dbreak away from that plateau. I made a radicaldecision: I resolved to work 50 percent less. Iused that 50 percent as time in which I couldinvest in my brand’s value. I spent more timereading books, going to seminars, meeting new
people, growing my online audience, and gettingmy name on blogs. I did whatever I could toincrease my brand’s value, so that more people
would want my services.
I believe that all marketers and entrepreneurs
should master the skill of increasing value. If youown a clothing line, spend more time searchingfor quality fabric and/or invest in building yourbrand and perceived value. If you are a personaltrainer, spend more time making your personalbrand and time valuable. Try to get media
publications to talk about you, improve your skillsas a trainer, grow an online audience, andparticipate in contests to win awards in your field.If you own a restaurant, work on your menu, andget more food reviewers through the door. Invite
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celebrities and local stars to eat for free, and make
sure people know about it. Spend more time andmoney on training your chefs and working ontheir personal brands.
There are plenty of ways to improve the value(and perceived value) of what you market. Alwaysask yourself, “How can I improve the value of mybrand?” When in doubt about whether to makecertain business moves, think about how much
value they could add to the brand. Base yourdecisions on the potential for increased value.
Scalability.
Our other best friend, scalability, is the abilityto multiply revenue and sales with a minimalincrease in cost and resources. Selling the sameproduct repeatedly while being able to meetdemand at the moment it is created is the ultimate
goal. A lot of business owners get stuck insituations where scalability is hard to accomplish.For example, personal services are less scalablethan some others, as we only have twenty-fourhours in a day. Local businesses also suffer fromless scalability. Their smaller ranges of business
and their smaller inventories make it harder toexploit scalability. However, I believe thatregardless of the situation, a brand can improveits scalability.
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One method used to improve scalability is
product building. A wise move for a personal-service provider, for example, would be to spendless time providing services and start working onbuilding information products. For example, alawyer could package his most valuabledocuments and sell them as a product. Or, amakeup expert could sell video lessons on his orher website for a monthly fee.
Even restaurants, nightclubs, hotels, boutiques,and other local storefronts can improve theirscalability by building products. For example, arestaurant could decide to market its menu as a
cookbook and sell it on the Internet or with alarger distribution. The restaurateur could alsodecide to market a famous recipe in local orextended grocery chains.
Another way to improve scalability is through
the use of franchising and licensing. Businessesselling products often use this strategy, but it canalso be used for services. In fact, Tony Robbinsdid just that with his life-coaching services. Hemarketed his process, and he made the decisionto franchise his coaching approach and brand.
Since doing so, he’s been able to charge more forhis services and earn passive income fromfranchisees.
There are multiple ways to improve the
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scalability of your brand, and all they require is
strategy and creativity. There is no predefinedprocess. A question I ask myself, or get my clientsto ask themselves, when working on businessscalability is, “How could my brand help onebillion people?” Yes, scalability involves seeingbig, so don’t be afraid to dream. The goal is tohelp more people with less cost and time.
When increased value and scalability worktogether, great brands are created.
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Lesson #12
Push and PullMarketing is like flirting with someone; while
you should never come on too strong, youshouldn’t be afraid to put yourself out there. Youshould seek what I call the perfect “push-and-pullbalance.” When you balance your push strategiesperfectly with your pull strategies, you can expect
new customers to come rushing in. Rememberthat marketing is about keeping those customers,too. So you must employ both push and pullstrategies to successfully create and retaincustomers.
Push strategies aim to take the product straightto the customer. Some examples of pushstrategies are trade shows, direct selling,prospecting, cold calls, and negotiating withretailers to distribute your product. I see it this
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way: Push strategies are about finding the best
ways to get products directly into the customers’hands without the customers having to seek themout.
Pull strategies, as you might have deduced,involve figuring out the best way to get thecustomer to seek out the product, that is, the best
way to create demand. Pull tactics includeadvertising, public relations, endorsements, and
word of mouth.
When FUBU, a clothing brand founded byinvestor Daymond John (Shark Tank) started out,
the brand decided to give clothes to famousrappers. They could keep the clothes if theyagreed to wear them in video clips. This strategy
was successful. Customers wanted to buy theclothing upon seeing some of their favoritecelebrities wearing the brand.
I give examples throughout this book of bothpush and pull strategies. Here, however, I wish toemphasize how important it is to utilize bothstrategies for optimal results. The reasoning issimple: Push the product without enough
demand, and negotiating prices and profitmargins becomes difficult. Too much pull
without push is difficult to sustain in the longrun; customers may be expected to work too hardto seek you out.
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For example, if you are a drink company and
you set up a stand at a corporate event, you willnot sell much due to a lack of demand. A lack ofdemand will lead you to discount your products.If you are selling a B2B service, most clients youcontact will not be at all interested if they havenever heard of you.
On the other hand, creating too much demand without providing enough ways to buy makescustomers go to competitors. It’s like makingpeople hungry but not giving them food. I’veseen many brands and entrepreneurs create greatinterest in their brands without ever creating
adequate opportunities for customers to buy whatthey are selling.
It’s all a matter of supply and demand. Asmarketers, it’s our job to ensure that both areaccounted for.
One perfect example of push-and-pull balancehappened in the pharmaceutical industry in 1997.
The Food and Drug Administration decided toslacken rules for drug advertising, thereby lettingpharmaceutical brands advertise. Before that,
companies were limited to only “pushing” theirproducts to doctors so that doctors couldprescribe the drugs to patients. When pharma gotthe opportunity to create demand through adsthat encouraged clients to talk to their doctors,
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overall prescription sales went up from 700
million to more than 2.1 billion in four years.Pharmaceutical companies acquired the ability to“push” their products to doctors through acomplete distribution strategy and “pull”customers by telling them to “ask for [theproducts].”
I have already addressed how important it is tobuild awareness before product distribution. Buteven when products are pushed to customers, it isstill important to constantly raise demand. Havinga great pull strategy (creating interest) will helpyou in your selling efforts; having a great push
strategy (getting your products in the hand ofyour customers) will ensure you consistently meetthe demand you’ve created.
Make the customer hungry, and then sell thecustomer a plate of food.
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Lesson #13
Don’t Discount Your
BrandI know, discounts are tempting. You have a
product to move. And, like always, you would likethe sales numbers to be higher. So to boost yournumbers, you take the route that so manymarketers have taken: You announce, “25 percentoff all items for a limited time!”
Bad idea. It may pay off in the short term, butyou are forsaking greater future earnings forsmaller present ones.
Nancy Smith, founder and CEO of AnalyticsPartners, conducted a study. She analyzed theimpact of sales promotions on different businesson a global scale. She concluded that sales
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promotion and discounts will train your
customers to wait for promotions and theperceived value of your products is reduced. Thepoint is, if the product is worth one hundreddollars, why would you be ready to sell it at fiftydollars? In my opinion, it leads the customer tobelieve that the original one-hundred-dollar pricetag was a scam. If I pay one hundred dollars forsomething and see it advertised for fifty dollarsthe next week, I will definitely not pay that
vendor one hundred dollars again.
You’re probably wondering, “How do I give apush to my sales without sacrificing future
earnings?” I’ll get to that later.
What happened to JCPenney?
JCPenney, the giant US retailer, has fallen onhard times. It found itself in a difficult position
due to a competitive industry and some badstrategic moves. What happened to put JCPenneyin that situation? Many aspects lead to itsstruggles; however, I will focus on one specificstrategy it employed, called “high-low pricing.”
Basically, this strategy consists of initiallyselling a product for, say, one hundred dollars andthen dropping the price over time until it reaches,say, fifty dollars. As you can guess, most of thesales occur at fifty dollars.
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The problem with this strategy is that it made JCPenney lose its identity. You could enter thestore and find it full of red tags. If JCPenney
wants to sell a watch for $400, all consumers areaware that if they wait long enough, they canacquire the same watch for $150. Such cheaperprices have compromised JCPenney’s prestige asan establishment and lowered its profits.
JCPenney has gotten stuck in an infinite loop ofdeals.
Perhaps JCPenney should start out by sellingthe watch at $150. Of course, in some situations
that would be a great idea. But with regard to thiscompany, consumers are now likely to simply
wait for the watch to drop more in price, perhapsto $75. It’s clearly not profitable to sell a $400
watch for $75.
It boils down to basic logic: If you train yourcustomers to wait for deals, they will always wait.
You will slow down the sales process of price-sensitive customers, and you will lower yourprestige in the eyes of wealthy consumers.
In most cases, the best strategy is to find theperfect price for your own target market (withouttrying to please everyone) and stick with it.
If your target can afford one dollar, stick to
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one dollar. If it can afford high-end products like
watches for $20,000, then stick with $20,000.
So, let’s get back to that quick “push” you want to give to your sales. The trick is to createpromotions that don’t involve price lowering andto use them sparingly. The most important thingaspect of a promotion to consider is the impact itcreates.
A great example of a high-end brand doing aneffective promotion is Bentley. Bentley, a long-time partner with Breitling, decided to giveexclusive Breitling watches to all buyers of its
Continental ISR model car in 2011. The companylimited this marketing stunt to one hundredbuyers only. It didn’t slash the car’s prices.Instead, it opted for a much more strategic movethat not only boosted the brand’s prestigiousreputation but also increased consumers’ urgency
to buy the car.
Footlocker also made a smart move in recentyears. Instead of giving 50-percent discounts onspecific items, which would drag down theperceived value of those items, they decided to
give 50 percent off the second purchase of all in-store products. They called the campaign “Buyone, get one 50 percent.” Though it is apromotion that plays on the price, it doesn’t playon the value of single products. As a matter of
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fact, as of 2016 this promotion is constantly
available, so customers won’t be conditioned tobelieve that buying later will give them anadvantage. Almost all products remain at fullprice, technically, so value is maintained acrossthe store.
Hyundai is another good example. Theautomotive company used creative methods tomake their promotions effective. They created aunique insurance plan: A person who bought aHyundai and then lost a job would no longerneed to pay off the car; she or he would own it.
This move dramatically boosted sales.
The fight for the lowest price is the fight forthe biggest loser, so don’t bother trying to get inthe ring. Instead, add value with yourpromotions.
Make sure you don’t get stuck in an infiniteloop of deals, in which all you “gain” are lostprofits and fewer customers.
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* * *
I will always remember when a good friend ofmine told me, “Jules, it’s normal to struggle. Lifeis just testing you to see if you deserve it.” Thingscan seem discouraging at times, because lifedoesn’t always go our way.
We can’t hope to climb Mount Everest without doing what it takes to get to the top. You
wouldn’t just reach the summit with one hugejump. To succeed, we have to accept goingthrough a necessary process and believe that wedeserve the success and that we deserve to reachthe top.
To conjure another image, “A smooth seanever made a skilled sailor.” Strive not for thesmooth seas, but for the challenge that makes youa better person.
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Lesson #14
The Power of
Storytelling Ah, storytelling—a frequently discussed topic
in the present world of marketing. What isstorytelling? Simply put, storytelling as amarketing concept is the art of attaching powerfulstories to your brand. The fun part of storytellingis its diversity; a story can be told in the contextof any aspect of your brand, including itsarchitecture, marketing campaigns, userexperience, or touch points.
Storytelling is useful and effective. Studieshave shown that the human brain retainsinformation much more concretely when there isa strong emotion attached to it. If I asked you
where you were on September 11, 2001, I am
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