Russian Dolls are so Full of Themselves…
Hope you appreciated us starting off with a humorous title. J.S., a friend of mine recently said,
“Are any of the people talking about successful social media marketing selling anything besides social media marketing?”
Many successful marketing platforms create markets out of helping others succeed at it. This sets up the Russian Doll Effect. The top thinkers of social media help those that may be similar in knowledge, but perhaps, lack discovery or momentum. This group will tend to chase the “traffic” of the experts and help out the less knowledgeable. Then that group in turn helps less knowledgeable people until we come to the bottom where people are helping brand new people.
I’ve written a little about this already in Marketing to Marketers- the Entirely Crazy Food Chain. Take a gander.
I suppose this begs the question why don’t new people go straight to the experts? Well, they may not know who the experts are or the expert may not have time for them. In addition to commenting on the feel of the market, J.S. may have also meant do these people have a complete knowledge of social media if their product is just social media tools and knowledge about it? They just might lack the real experience of incorporating a product outside of social media into social media. Only J.S. would know what he meant.
Social media wasn’t intended to be a marketing tool, but, so many people use it that it has become one. Marketing follows the people. I’m going to make the case that the Russian Doll Effect happens in our traffic exchange industry. Tons of instruction and tools are out there to make traffic exchange success. People of strong knowledge have limited time so it creates a similar model ,but, it’s a very scaled down version. Obviously, traffic exchanges don’t have millions of people using them on a monthly basis like social media. Interestingly, it’s also larger traffic exchanges that help smaller traffic exchanges in our industry. Another Russian Doll Effect.
Moving on, the internet made the market for information, graphics, and software way bigger. The speed that it can be distributed is astonishing. It’s the age of the download that paves the way for a gigantic intangible market.
4 Things that Make an Intangible Market Superior
- No Warehouse Needed– Products don’t need to be stored anywhere. There is a server cost, but most businesses, even if they are brick and mortar should have a website.
- Once it’s Done, it’s Done– After your product is created by idea, designed, and programmed your good to go. I realize that many businesses will continue development, but still, I’m sure you grasp the concept.
- Outstanding Userability and Frequently Asked Questions- Once created, this lowers the amount of support costs you’ll have. You don’t have to fix a physical product like a brick and mortar might. You don’t even need an office. Also, if your marketing information, your in one of the best markets around. How much could go wrong if your selling downloadable ebooks for instance. Seems pretty smooth to me.
- An Intangible Product is Easily Plugged into Social Media– By integrating social media throughout your site you can get a big boost of exposure for free once it’s in place. I understand that a brick and mortar business can create a website and plug in to this as well. My point is that an intangible, online business has it’s place physically online already. Using social media comes naturally and it’s an easy add.
Marketing can be a pretty crazy world sometimes. It thrives on the passing down of knowledge and momentum. An online, intangible business can have huge advantages as we’ve seen. Are you ready to market one?
Credit to Starting Header Joke, Patrick Griffin