I am not going to add to the relentless analysis of the recent election. If you love politics, read my friend Pete Sage’s political blog. It is well-written and very insightful. But I do want to cover three core marketing principles that your business can learn from Trump’s victory.
GET OUT AND MEET YOUR CUSTOMER – Most businesses today think they are listening to their customers. They tell me they monitor user review websites (Yelp, Amazon, TripAdvisor, Foursquare, Angie’s List, BBB, Manta, etc.) and use online surveys (Survey Monkey) to know what is going on. Big mistake, you do not know what is going on. The internet has a self-selecting bias. You are only going to hear from people who love or hate you. But what about the majority that do want to share their opinion and will simply not buy your product. Or the 20% that have no home internet access (Pew Research study)?
The Trump Marketing Lesson: On almost every measurable statistic, the economy is better than when Obama came into office in 2008. That’s a statistical fact. But Trump’s victory in Wisconsin reveals that 61% of voters said the economy was bad or “not so good.” Their vote was a rational choice. It was not a vote of deplorables. Oh, and never, never label your customers. Bottom-line: nothing replaces getting out in the real world and asking your sales or service team for honest feedback on what customers think. Nothing replaces visiting your key customers and listening to their concerns. Do not rely on metrics only.
SELF-INTEREST IS YOUR CUSTOMERS ONLY INTEREST – All business run marketing programs because of their self-interest. They want to sell more, make more money and profits, and enjoy the rewards of their hard work. Therefore, most businesses place their self-interest over the interest of their customers. But as I have said in my book and in years of consulting, the only real interest customers have is self-interest. Trump totally understands this, perhaps because he so totally focused on marketing himself.
The Trump Marketing Lesson: If you focus on your client’s self-interests, they will overlook a lot, if they believe they are being heard. White evangelical Christians voted 81% for Trump. They simply overlooked locker room speak, playbook character flaws, numerous marriages, trophy wives, and questionable business ethics because Trump promised to lead with their self-interest in mind.
TAKE NOTHING FOR GRANTED – In this 24/7 digital world, your customers are overwhelmed. They long for a simpler time, where they can trust things they believed in as a child. But today we are outliving our value systems, and this makes everyone very fearful. Because of fear, your customer’s opinion of your business can change instantly based on what they hear or see. Remember, events create public opinion.
The Trump Marketing Lesson: You can’t take anything for granted in a constantly changing world. That is the essence of my PowerShift Marketing philosophy: if you are not doing something every day to move your business forward, you are moving backwards. There is no status quo. Are you a market leader and think you can rest? Forget it. Are you behind the market leader? Keep focused and work smarter.