Just like its interest based equivalent, the aim of the compound marketing game is for brands to make small efforts overtime to reap potentially big rewards.
In simple terms, a compound marketing strategy relies on relatively minimal measures made over long periods of time. By focusing on consistency and value, the aim of the game is to build the faith and reliance of both your new and existing audience members. As a result, brands and businesses can expect to see genuine, long lasting results – which is more or less nirvana for anyone chasing a decent return on their marketing investments.
However, the exact definition of what compound marketing is seems to divide digital marketers. According to Dan Norris, entrepreneur and author of “Compound Marketing: How Smart Smart Entrepreneurs Use Asset-Building Marketing Strategies For An Unfair Growth Advantage”, compound marketing is all about building brand assets over time, as opposed to generating immediate leads in the short term – but how exactly is it done?
The Concept Of Compound Marketing Explained
Compound marketing, or advertising strategies that don’t cost a lot but have the potential to generate long term growth, essentially has four pillars that form the basis of the concept. For brands and business owners looking to use this strategy over a few months – if not, years – be sure to pay careful attention to the following components.
Brand – Brand awareness is a marketing term that describes the degree of consumer recognition of a product or service by its name. In turn, brand authority is when a business is regarded as an industry leader within its sector. If a business puts a focus on building its brand, then your logo alone will generate leads and consumer awareness without you having to lift a finger. Building a solid brand is all about showing, not just telling.
Storytelling – A brand story is a cohesive narrative that encompasses the facts and feelings that are created by your brand or business to the public. Unlike traditional advertising, a brand’s story must inspire some form of emotional reaction. This narrative exists whether you like it or not, so it’s important for business owners to learn how and where to tell your brand story, and how it can benefit your business by humanising it.
Content – Content marketing is a form of advertising that focuses on creating, publishing, and distributing content for a targeted audience online, such as SEO optimization, blogs, videos and even social media posts. Although this style of marketing doesn’t yield instant results, the potential rewards that a business can reap over time is lucrative, particularly in the realms of dominating the Google search engine results.
Community – Too many businesses undervalue their repeat customers, and simply don’t understand the power of customer retention. If you are able to build a community of loyal fans around your brand, they will reward your world class products and service by telling everyone in their inner sanctum about how much they love you. As such, use some of your marketing budgets to engage with existing customers as opposed to attracting new ones.
When it comes to mastering content marketing as a form of compound marketing, there is one special niche that arguably has the best return on investment of them all. If you’re able to publish content that’s properly optimised, engaging, informative or even just funny, the powers that be at tech giants like Google deem your content to be “worthy” – meaning that your content or web pages shoot to the top of the search engine results.
However, if the information is not time sensitive and has managed to successfully answer consumer queries, then you’re much more likely to remain in favour and relevant on the results pages for significantly longer. The reward for publishing this type of content is that your website continues to get the “hits” time and time again – making it an extremely savvy investment, and essentially the marketing gift that keeps on giving. This process is what we in the marketing realm refer to as evergreen content, or content that doesn’t die.
Considering that most businesses spend anywhere between 7% to 10% of their revenue on marketing, there are also plenty of modern great businesses who spend as little as 1%. Many fall into the trap of trying to take short cuts for instant results, but actively pursuing compound marketing methods offers a slow burn alternative that both costs less, and continues to reap rewards for a significantly longer time period if you can manage to get it right. Ultimately, what business owner doesn’t want to spend less yet make more, right?
The Key To Good Marketing Is Great Content
Producing quality, consistent and on brand content that’s Google friendly takes time, effort, experience and resources – and you’re not alone if you can’t quite commit to that. In fact, avoiding the use of content marketing altogether may actually be doing your brand a disservice. Thankfully, investing in a solid strategy has never been easier.
Here at Content Hive, producing top quality digital content is exactly what we do best. We have itemised a list of digital content services, and allocated credits next to each of these. This means that each month, you can use your credits with us to produce digital content such as social media posts, blog articles, videos and even animated Instagram stories.
We believe that this model means we can produce high quality content in faster than normal delivery times. It also means that because you have a monthly credit, you are going to want to make sure you use these up – and so do we – meaning that your digital content is always consistent.
If you aren’t quite sure where to start on your digital marketing journey and would like to speak to a professional, why not book a free discovery call with us at Content Hive today to discuss how we can get your brand buzzing online.
