WEBVTT 00:00.080 --> 00:00.620 In this video. 00:00.620 --> 00:04.970 I want to go over a few ways to look at marketing and just give you different perspectives to what it 00:04.970 --> 00:05.330 is. 00:05.360 --> 00:09.140 The first one is something we can all relate to, and that's sell, sell, sell, promote, promote, 00:09.140 --> 00:09.460 promote. 00:09.470 --> 00:14.450 Whenever we are starting out with something, there's a lot of stress on us to make money and sell. 00:14.450 --> 00:15.950 And so we're in that mode. 00:15.980 --> 00:21.560 That's kind of like a short thing small business owners have is they just need to make money and they're 00:21.560 --> 00:24.140 relentlessly focusing on sales. 00:24.140 --> 00:26.330 But that's really a shortsighted way. 00:26.330 --> 00:27.110 It's not a good way. 00:27.110 --> 00:35.000 The better way is think about your marketing as everything that has to do with your customers, anything 00:35.000 --> 00:40.130 that touches your customer, for example, the quality of the product service, the customer support, 00:40.160 --> 00:46.700 the trust of your brand, the professionalism and the manner in which you approach your customers. 00:46.700 --> 00:50.270 So everything that touches the customer is part of the marketing. 00:50.270 --> 00:52.520 Those customers will either come back or not. 00:52.550 --> 00:56.240 They'll either tell their friends or not, and they'll either leave good reviews or not. 00:56.240 --> 01:03.420 So it's really everything that you do and you've got to work up all the time to raise your customer 01:03.420 --> 01:06.840 experience in everything, not just the sell, sell, sell part of your business. 01:06.840 --> 01:10.770 So that's how small business owners experience marketing. 01:10.770 --> 01:16.200 Now there's another way to look at marketing, and that's the historical perspective, because what 01:16.200 --> 01:17.670 is a market? 01:17.700 --> 01:25.710 A market begins to exist when someone with a need comes in contact with somebody with a solution, a 01:25.710 --> 01:26.850 need and a solution. 01:26.850 --> 01:29.250 When they meet, that's a market. 01:29.250 --> 01:35.730 There begins to be a trade of goods and services, and the price is obviously determined by the need. 01:35.760 --> 01:40.290 How much the person is going to is willing to pay for the solution versus how hard is it to provide 01:40.290 --> 01:41.760 the solution and all of that. 01:41.760 --> 01:43.920 And that's actually really great. 01:43.920 --> 01:49.440 That is fantastic because that is predicated on helping somebody with their needs. 01:49.440 --> 01:56.670 Some trouble begins to arise when you satisfy everybody with a legitimate need and you still need to 01:56.670 --> 01:58.440 make more money and more sales. 01:58.440 --> 02:02.670 You start needing to convince people that they need things when they don't. 02:02.670 --> 02:06.240 So you have to manufacture this feeling in people that they need things. 02:06.240 --> 02:12.720 This is something that large companies do that have a lot of pressure to grow relentlessly. 02:12.720 --> 02:18.150 So you have phenomenon like the Marlboro Man because, you know, smoking, everybody knows it's bad 02:18.150 --> 02:22.800 now, but everybody also knows that like the Marlboro Man, he was the cool person, right? 02:22.800 --> 02:26.310 They didn't show that he was going to get lung cancer from smoking. 02:26.310 --> 02:32.070 They just showed that he was really cool and they created this fake image that looked real and people 02:32.070 --> 02:34.740 kind of actually aspired to be like that person. 02:34.740 --> 02:35.070 Right? 02:35.070 --> 02:37.110 So it's all totally fake marketing. 02:37.110 --> 02:40.170 That's a clear example of it. 02:40.170 --> 02:45.780 But there's a tremendous gray area of this where, like, do you really need that car? 02:45.810 --> 02:49.140 Do you really need to go on 20 travel destinations? 02:49.140 --> 02:56.550 If you look at every big industry, typically it originates in something good, in moderation. 02:56.550 --> 03:03.960 And what companies in that industry have done is they spent trillions in marketing over time to create 03:03.990 --> 03:10.490 a feeling in us, the consumers, that we really needed much more than we do. 03:10.500 --> 03:13.230 So people get this lust for things. 03:13.230 --> 03:16.350 If you look at any industry, it has that phenomenon. 03:16.350 --> 03:22.530 As consumers, of course, we have to moderate ourselves and be objective, but as marketers we have 03:22.530 --> 03:27.300 to understand what's really going on underneath and how it affects our business. 03:27.300 --> 03:29.790 So that's the theory of marketing. 03:29.790 --> 03:33.810 Looking at it theoretically and from the perspective of a small business owner.