Every time they want to say something, they dip into their budgets, pull out a huge wad of cash, and place some ads. But this approach is both expensive and unreliable. As they say, you waste half of your ad budget—you just don’t know which half.
Today’s smartest companies know better. Instead of going out to reach people, you want people to come to you. An audience returns often—on its own—to see what you have to say. This is the most receptive group of customers and potential customers you’ll ever have.
Over the past ten years, we’ve built an audience of more than a hundred thousand daily readers for our Signal vs. Noise blog. Every day they come back to see what we have to say. We may talk about design or business or software or psychology or usability or our industry at large. Whatever it is, these people are interested enough to come back to hear more. And if they like what we have to say, they’ll probably also like what we have to sell.
How much would it cost us to reach those hundred thousand people every day the old-fashioned way? Hundreds of thousands? Millions? And how would we have done it? Running ads? Buying radio spots? Sending direct mail?
When you build an audience, you don’t have to buy people’s attention—they give it to you. This is a huge advantage.
So build an audience. Speak, write, blog, tweet, make videos—whatever. Share information that’s valuable and you’ll slowly but surely build a loyal audience. Then when you need to get the word out, the right people will already be listening.
Out-teach your competition
You can advertise. You can hire salespeople. You can sponsor events. But your competitors are doing the same things. How does that help you stand out?
Instead of trying to outspend, outsell, or outsponsor competitors, try to out-teach them. Teaching probably isn’t something your competitors are even thinking about. Most businesses focus on selling or servicing, but teaching never even occurs to them.
The Hoefler Type Foundry teaches designers about type at Typography.com . Etsy, an online store for things handmade, holds entrepreneurial workshops that explain “best practices” and promotional ideas to people who sell at the site. Gary Vaynerchuk, who owns a large wine shop, teaches people about wine online at Wine Library TV, and tens of thousands of people watch every day.
Teach and you’ll form a bond you just don’t get from traditional marketing tactics. Buying people’s attention with a magazine or online banner ad is one thing. Earning their loyalty by teaching them forms a whole different connection. They’ll trust you more. They’ll respect you more. Even if they don’t use your product, they can still be your fans.
Teaching is something individuals and small companies can do that bigger competitors can’t. Big companies can afford a Super Bowl ad; you can’t. But you can afford to teach, and that’s something they’ll never do, because big companies are obsessed with secrecy. Everything at those places has to get filtered through a lawyer and go through layers of red tape. Teaching is your chance to outmaneuver them.
Emulate chefs
You’ve probably heard of Emeril Lagasse, Mario Batali, Bobby Flay, Julia Child, Paula Deen, Rick Bayless, or Jacques Pépin. They’re great chefs, but there are a lot of great chefs out there. So why do you know these few better than others? Because they share everything they know. They put their recipes in cookbooks and show their techniques on cooking shows.
As a business owner, you should share everything you know too. This is anathema to most in the business world. Businesses are usually paranoid and secretive. They think they have proprietary this and competitive advantage that. Maybe a rare few do, but most don’t. And those that don’t should stop acting like those that do. Don’t be afraid of sharing.
A recipe is much easier to copy than a business. Shouldn’t that scare Mario Batali? Why
Jamie Begley
Jane Hirshfield
Dennis Wheatley
Raven Scott
Stacey Kennedy
Keith Laumer
Aline Templeton
Sarah Mayberry
Jean-Marie Blas de Robles
Judith Pella