There is no denying that the right mindset can do wonders.
It is especially true when it comes to marketing and promoting your products to the market. It’s important to think of marketing as an asset, rather than marketing as an expense.
My latest Podcast will outline how.
There is no denying that the right mindset can do wonders. It is especially true when it comes to marketing and promoting your products to the market. It’s important to think of marketing as an asset, rather than marketing as an expense.
If you want to make the most of your marketing opportunities, you need to make sure that every piece of marketing that you produce has the potential to be turned into an asset.
So how can you create assets out of your marketing?
How to Curate Marketing Strategies from Existing Assets
Let’s begin with an example of “Ben Settle” –an email marketing expert who successfully conglomerated the content of emails into books. Ben’s books allowed people to learn how they can build a business by constantly emailing their database.
Typically, Ben followed a simple technique of emailing his list every day to his clients. It helped him establish a relationship with these lists. Also, he was able to use these attempts to sell the offerings to various bits and pieces.
But it doesn’t end here, as he collected, curated, and collated all the emails over time. He placed them into books to show people a perfect example of building a business by using a database. Although he incorporated it as a marketing tactic, he curated and cobbled them together into other assets and sold them to improve profitability.
Still not convinced?
Let’s look at another example of asset creation marketing.
There’s a charity called the “Center for Asylum Seekers and Refugees. One of the asylum activities is called “Second Harvest,” where every Monday supermarket provides leftover food to the charity and the charity distributes it to their particular clients.
Over time, it turns out, most Mondays and Tuesdays, when they distribute the food, there’s always a little bit leftover. Instead of destroying or discarding it on Wednesdays, they started an activity called Eat, Share, And Connect. The activity attracted volunteers (generally refugee volunteers) to join in and participate in cooking food by using the leftover food of their particular flavors and cuisine.
Soon it took the shape of a proper meet up and volunteer activity where all clients drop in and have an “Eat Share and Connect” Wednesday lunch.
These lunches have now become a perfect way to get sponsorships from people and obtain grants from people who pursue charitable work. This way, each share, connect Wednesday lunch time has become a brilliant showcase for everyone, including potential benefactors and consumers.
Leveraging Assets to Strengthen Marketing
The Australian football league started an exercise 20 years ago with a game called the “dream time” game. It was an initiative where Richmond played Essendon, and it was aimed at celebrating, and commemorating the profile of indigenous footballers.
Now the league has grown this game into an annual event and has become a popular attraction in Darwin. It attracts major sponsorships, large TV viewership, and heaps of promotion. Although they always play a football game, “Richmond versus Essendon,” it is promoted as a special event called the dream time.
In short, this annual event is an annual asset that is worth a lot of money to the Australian football league.
Why Asset Creation is Beneficial
Thinking about developing assets for your business is crucial for the growth of your business. Remember that you don’t need to do anything revolutionary for creating assets. However, it would help if you focused on changing your thought pattern and mindset when creating a marketing piece.
Don’t think of it as a tactic or a promotion. Consider it a campaign, which can evolve into a marketing asset. It will be an asset that can not only generate leads for your business but revenue as well.
Therefore, instead of taking marketing as an expense, think about how you can utilise this money to create a resource that can ultimately become an asset.
All in all, assets are something that you can put a value to, can sell, or can call upon. And that’s how the marketing system works and supports businesses. Thus, if you know how to create these assets, your business will be substantially better off whilst strengthening its identity.