George Malchev: “There have always been and there will be 4 consecutive steps – target users and value, strategy, content and channels. Digital just opens up many more possibilities.”
George Malchev- entrepreneur, consultant, managing partner- Xplora.bg
Lately a lot of people absolute the content as an approach to reach consumers. Is this the right approach according to you?
It is correct as it was before to absolute the number of fans – “my fans are more than your fans.” Content is only one element of marketing communications.
We always start with the specific target users and the value that will give them. People have real needs – related to real pains and benefits they have. And the solution is what gives value to them. Only then we can talk about strategy for these target users. Our strategy depends on what kind of people are these and how we give value to these target users. Only then comes what is the right content, and then follows in which channel and how it will be delivered.
There is no point to shout loud even to our most accurate target users that we give mortgage loans. Because these people will not remember the bank behind the fun advertising or behind amusing message. Or funny post on social networks. I’ve done this experiment in 13 courses and last – to an audience of 200 people. All remember the message, no one can recognize the bank. And the ads were on all channels at least 12 months.
And which one is the working approach?
To recognize target consumers with their needs and desired effects. And be aware of their digital behavior. Currently, 45% of people over 55 have access to the Internet, according to Google Consumer Barometer for 2016 . And if you do not offer them something that has a price higher than of mineral water or chocolate – they will ask anyone with Internet access, or they themselves will check online.
Can you give some examples of working approach?
One of my favorite examples is Lidl. And from our customers – I would mention Toyota, Medix, Walmark, Izikredit, BLD Homes. The fact is that at the moment these four elements – target users and value proposition, strategy, content channels – are connected, users can be targeted much more closely and more personalized, feedback is faster than ever and tests and adjustments are possible very quickly and at very low costs.
Personally, I enjoy when I see a well-made advertising or even post to social networks. And then trying to figure out whether this is part of a clear and properly implemented strategy. And vice versa – when I see a major communication platform as You Lead, New beginning – New plans, the Best of Bulgaria – the best of Europe, etc. – To see how all the elements will be implemented. I advise you often to find, track and analyze – someone has given a lot of money to invent, to create, to advertise. And you have an opportunity in real time to keep track of so many interesting marketing communications. In real time, and in their development.
Traditional channels are working, and will continue to work. They are excellent to remember that the company offers something or start your user path. The difference is that now people know they can easily through digital channels to receive free, or nearly free much more information about whether or not they will get value of a product or service. This is because their whole experience, for 1 to 10 minutes they can form the most appropriate for their decision – whether to make an insurance whether to buy 5 units of a product, whether to test a product or service, whether to go to an office or shop to express interest or buying.
And here comes the connection, and the need for content marketing – content must comply with the strategy for presenting the true value for the target consumer for the pain and the benefits that users will have. And – content can move the user one step further on its path to purchase and / or development of loyalty. But can also allow users to self profile themselves, which you as a business to communicate more correct them – to see whether you have the correct assumptions whether “you receive” with the current strategy and approach, and find and do funnel sales and loyalty of your target users.