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Tools of the Marketing Titan

Chris Sullivan

September 5, 2017
Chris Sullivan

For yesterday’s Labor Day holiday, I took the family for a quick day trip to the historic beach town of Ocean Grove, NJ. Beach time equals book time for me. And since Ocean Grove is a family-oriented, dry town, the setting was perfect with few distractions. It was time to settle in for some quiet time.

 

With summer coming to a close, I needed to reenergize the mind with some inspiration and prepare for what’s guaranteed to be an active Fall. So I brought along Tim Ferriss’s book, Tools of the Titans. The book accurately bills itself as providing the tactics, routines, and habits of billionaires, icons, and world-class performers. I was hoping to grab a few ideas that I could easily put into practice.

 

Tools of the Titans is a book that you digest in pieces. Each of the 500+ pages contain actionable ideas that you can incorporate in your own business, life, family or hobby. It reminded me of actions I need to take on a daily basis if I am going to truly move the needle. And it got me thinking. What are some best of the tools of marketing titans? I thought of three that I’m working on right now for Princeton Partner’s clients. They are tools that you can use to make sure your advancing your business as well.

 

1. Commitment to owning a unique and differentiated idea

Al Ries said it best: “A Brand is the singular idea or concept that you own inside the mind of the prospect.” We call it a Unifying Brand Idea (UBI). Every marketer should be continuing to make this a reality for their brand. But not just for the prospect. It’s critically important to ensure that the internal team understands and commits to the idea as well. Once an idea is sold internally, its true expression can live externally.

 

 

2. Understanding the lifetime value of a customer

One of the first questions we ask our prospective clients is, “What is the lifetime value (LTV) of your customers?” Sometimes they know. Other times, it’s yet to be determined. But knowing LTV is critical to a marketing team’s success. It helps you decide what you are willing to pay to acquire a customer. And it helps you make the most of the next tool: return on ad spend.

 

 

3. Continuously practice analysis of Return on Ad Spend (RoAS)

In the not-so-recent past, marketers would do annual, quarterly, or campaign-specific analyses of advertising inputs and outputs.  They would attempt to draw high-level correlations with topline sales impacted by ad spend to estimate RoAS.  Today’s digital marketing ecosystem enables continuous analysis, including the attribution of specific media and message elements to sales. Digital marketers are even attributing a percentage of RoAS to particular content/channel components in a series of media interactions.  Each client situation is unique, but if you want to be a Marketing Titan, then design and support the programs, people and technology to continuously analyze RoAS.