Understanding Marketing Strategy Lifecycles with Rich Schefren
The DigitalMarketer Podcast
Introduction
This chapter delves into the concept of marketing strategy lifecycles and emphasizes the importance of recognizing early opportunities in the ever-changing field of online marketing. The guest introduces the idea of strategic lifecycles and discusses stages of adoption and competition within marketing strategies.
How do you stay on top of the biggest marketing trends, mixing it up between what is tried and tested in terms of messaging while also trying out something new?
Understanding the life cycle of a marketing strategy can be challenging, especially with AI and so much content out there already.
Rich Schefren is an early Internet marketing pioneer, and he's been involved in more than his fair share of savvy marketing trends, such as the Video Sales Letter, the Internet Business Report, and even back when live streaming was first considered ‘a thing’.
His insights into how we keep up as digital marketers in an AI-accelerating world are invaluable, as Rich reminds us that it's not so much about understanding the latest technology as it is about figuring out how to leverage that technology for your business.
What sets apart successful online entrepreneurs from marketers involves a keen understanding of your messaging and the proprietary data that informs who you are targeting with that message.
From direct faxing and infomercials to AI video avatars and 'liquid funnels', Rich eloquently straddles the past and the future of digital marketing in a way that makes us acutely aware of our present moment.
This is evolutionary risk-taking as marketing strategies and principles go, looking at what has worked before in a different guise to appreciate what we are looking at now and to know it as if for the first time.
Rich Schefren is the Founder of Strategic Profits and is one of the world’s top experts on online business strategy.
"Steal Our Winners" is the world’s first digital mastermind that delivers profitable ideas from multi-million-dollar business gurus — every single month.
Key Takeaways:
01:32 Understanding the life cycle of a marketing strategy
06:41 Rich's early adventures with live streaming
07:30 How the Video Sales Letter peaked – and plateaued
13:46 How to get a prospect engaged in your offer
17:51 Has Rich found a formula for combining tried and tested strategies with new ideas?
20:53 Why entrepreneurs struggle online (and using your messaging to your advantage)
24:16 What process does Rich have following a big marketing win?
29:30 The importance of message testing to get the process better
33:30 The value of high-production VSLs
37:10 Using AI and video avatars to create high-quality content at scale
40:17 The hyper-personalized 'liquid funnels' that are being developed in Israel
42:05 Shifting from proximity to relevancy (ads as tracking devices)
45:28 Rich shares his marketing platform where he shares successful strategies
47:31 Building a business that leverages the latest technology
Connect with Rich Schefren:
Strategic Profits - https://strategicprofits.com/
Steal Our Winners - https://richschefren.com/steal-our-winners/
Be sure to subscribe to the podcast at: https://www.digitalmarketer.com/podcast/
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LinkedIn: https://www.linkedin.com/company/digital-marketer/
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