I’m Zach Holloway, Marketing Coordinator at Media Junction. Every day I’m tasked with helping clients reach their goals with their inbound marketing efforts. If you haven’t yet adopted inbound marketing, you are likely going to be facing major battles when it comes to acquiring and delighting your current and future customers. I want to explore with you how to survive the future of marketing.
For context, let’s first discuss what a disruptive innovation is. The Wikipedia definition of disruptive innovation is, “an innovation that creates a new market.” Who earns a living driving their customers away? A Taxi Driver! Clearly, I’m kidding but Uber is a great example of a modern day disruptive innovator. Before Uber your only option for on-the-fly transportation was a taxi cab—all the same price, all of the time. But Uber came around and created an efficient price marketplace that actually adapts to supply and demand. You have a dual-rating system, where drivers rate riders and riders rate drivers, which leads to a better experience for everyone.
Disruptive innovation is all around us. And if they haven’t already, disruptors are coming for you. Someone somewhere is thinking of ways they can disrupt your industry. Companies all around are getting knocked on their heels in years or even months.
The Truth Hurts
Just because your company has survived the last 100 years, doesn’t mean it will survive the next 10. Think about this...70% of businesses on the Fortune 1000 are new within the last decade. Only 30% have been around over a decade. Yet we tend to think of companies on this list as enduring, generational organizations. We use it as an adjective to describe them–“They’re a Fortune 1000 company.” But what got them there, and what’s kept companies there in the past, is no longer going to be enough.
That’s why Media Junction was formed. We took a serious look at traditional marketing, and realized it was an industry being disrupted. No one event disrupted the industry, it’s the result of humans evolving and changing their behavior.
Consumer Interactions Have Changed
- 44% of direct mail is never opened
- 86% skip TV commercials
- 91% unsubscribe from emails
- 200 million say “Do Not Call”
These statistics are just some of the reasons we at Media Junction believe in Inbound Marketing. If you are relying on these marketing tactics to grow your business, you won’t survive.
What Can You Do?
One solution to protect your business from disruption is to figure out your extendable core. Your extendable core is the job you do for customers that a competitor could not replicate without adopting the same cost-structure.
Inbound marketing creates an extendable core that insulates you from disruption, while enabling you to disrupt others. It’s VERY hard for someone to quickly replicate your content, authority, and the most importantly, the trust and the brand you’ve built with the audience you’ve attracted.
Inbound marketing is a way to provide value to your prospects and customers at every stage of the marketing funnel. Inbound marketing uses tools to attract visitors, such as: blogging, social, and SEO. Plus tools to convert leads, such as: calls-to-action, landing pages, and forms. And lastly, tools to close customers such as: email, marketing automation, analytics, and CRM sync.
All these elements go into an inbound marketing strategy, setting your company up for success and insulating you from disruptors by creating a strong, healthy brand.
Media Junction can help your company create the assets and material necessary to protect your company from disruptors. We can help you create your extendable core and keep your company focused on reaching the right prospects and growing. Our team is always ready for a conversation. Thanks for reading! And if you aren’t ready to chat yet, subscribe to our blog for more marketing information!