Permission Marketing - Turning Strangers Into Friends And Friends Into Customers By Seth Godin
August 2019Rating: 8 / 10
The book is about a “different” paradigm of marketing. The main idea is that companies should have direct relationship with their consumers. By giving them valuable things they can gain their permission. Marketers should aim to move their consumer from a stranger, to a lifetime customer. In contrast to mass non-targeted marketing, permission marketing is a lot more effective and cheaper but requiee patience and long term thinking. Permission marketing advocate the principle of focusing on your current customers instead of always looking for new prospects.
Overall it was a good read, very relevant for entrepreneurs and companies of all sizes.
- Traditional marketing isn’t working very well. It is not easily measured, tested, or predictable and also expensive.
- Today’s customers are quite satisfied as quality of products generally are good.
- Average consumer sees 1 million marketing messages / year & 3000 / day
- It is more expensive (per min) to produce ads than a hollywood movie.
- Human beings have finite attention, money. Interruption marketing have to spend more money to get more attention but the more they spend the less it works.
- The worse the clutter, the more effective is your permission marketing.
- There is a vast shortage of attention
- Consumers are generally now willing to pay to save time while marketers are willing to pay to get attention.
- Permission marketing is anticipated, relevant & personal.
- Frequent personalised messages are far more effective than one just one message.
- Permission marketing is like dating, it turns strangers into friends and friends into life time customers.
- You must offer a benefit for consumers to give you attention.
- Marketers should aim to increase the level of permission they get from consumers over time.
- Permission marketing requires patience.
- Focus on extracting maximum value per customer instead of finding new customers.
- Technology enabled permission marketing and made it very affordable.
- Calculate your customer’s value over time.
- Focus on your best customers (80/20 rules)
- Permission marketing starts with grabbing the attention of a stranger by giving them something valuable in return to their permission to be in touch in the future.
- The less you ask from your customers and the bigger the “bribe” the easier it is to get their permission.
- Gradually raise the permission level
- Be specific, be personal , be relevant.
- Encourage 2 way communication with your customers.
- The more implicit the opt-in the more valuable the permission.
- To maximise the value of a list, you must maximise uniqueness, anticipation & overtness.
- Media cost are high in the beginning
- Treat permissions as an asset.
- Privacy of the data is crucial to the value of the asset.
- Focus on mastery - Online marketers need to feel smart.
- Teach your consumers about your domain and product.
- Remind people that the marketing is focused on them and it is fun.
- Avoid short-term profits from the permissions.
- Ask: What is the bait ?
- Ask: What does an incremental permission cost?
- Ask: how much does incremental frequency cost?
- Ask: what is the active response rate to communication?
- Ask: is the company treating the permission as an asset ?
- Ask: how is the permission level being increased ?
- Ask: what is the expected lifetime of one permission?