Maverick goes on multi-decade odyssey to master how media works and leverage it for businesses. Listen to Warren’s lessons to get ahead faster.
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If he started over
“If I had to start over but have all my knowledge I’d take more risks. Sometimes I felt down about the way things were going. I’ve been wiped out before. But that doesn’t really matter. Keep learning. Basically, I had to show up every day. That’s the hard part.”
“Especially with media today, there are certain words I can say and you will have an opinion on them. Any discussion doesn’t matter because I won’t change your mind.”
“If I state some facts people get very upset because they’re scared about it. For instance, there are less than 50 shark attacks per year. But people are a lot more afraid of sharks than taking a shower. Even though bathtub slip and falls are in the thousands per year. It’s more dangerous to take a bath. It’s more dangerous to drive a car and take a plane.”
“People can’t handle things where they don’t see a pattern. It scares them.”
Media for business
“If you know how people think and what they want and then give them what they want, it’s everything. It goes back to the golden rule. ‘Do unto others as you would have them do unto you’.
“My biggest mistake was not investing more in pay per click ads. I had a formula. I would spend $16 to make $100. We had 60% to 80% margin. I felt larger companies were doing it better. But we were the best at it.”
Why Listen to Warren Whitlock:
In the audio, Warren shares:
— The #1 thing that scares people away from your business — whether it’s your online store or brick-and-mortar office
— Failure — how over 50% of his main marketing channel fails yet he’s still hugely successful because of those few “spike messages” that go big
— Contrarian — how he started his career as a maverick and why the same strategy applies today
— Understanding the underlying factors that drive media and how to apply it to raise your business
— How branding has changed over the years and what to do today
— The story of one company disrupting an over 70-year-old industry and the idea that you can apply to your business
— 88.4% of statistics are lies. (That’s unverified and probably a lie) How you can use this knowledge to your advantage in your business.
— 2 specific reasons why Disney World does so well
Warren Whitlock is a digital business development strategist. In 2008, he wrote the first book about Twitter and Mobile Marketing, and the best selling “Profitable Social Media: Business Results Without Playing Games.”
He is the host of Social Media Radio and speaks frequently about social media marketing, online publicity and marketing, social networking and building lifetime value for rapid growth. He was also named one of Forbes’ Top 10 Social Media Power Influencers of 2013.
Warren helps businesses transform to a new way of doing business using social media and online marketing and promotion to attract the right audience from the 2 billion people using the Internet. His breakthrough strategies to integrate mobile marketing, public relations and and lead generation with conversions to return on investment for lifetime value has helped hundreds businesses achieve rapid and continuing results from their marketing process.
He’s worked at Fortune 500 companies without even having a college degree. He took lots of college hours but just never got the piece of paper.
He’s had four full-time jobs which were all in sales. He got fired from each position but not because of low sales. He’s grateful for that because he learned the job path doesn’t work for him.
Warren has worked in technology, business services and broadcasting, and is currently involved with media, health and several startups. He’s known on social media sites as @WarrenWhitlock, where you can find him having individual discussions and answering questions daily.
Some Shareables from Michael in this episode…
If he started over
“If I had to start over but have all my knowledge I’d take more risks. Sometimes I felt down about the way things were going. I’ve been wiped out before. But that doesn’t really matter. Keep learning.
Basically, I had to show up every day. That’s the hard part. Then life happens. You’ve got to make a decision whether or not your family is more important than the business deal you’re working on. How you’re going to handle those conflicts are key.”
“There is no truly rational person. The old Ben Franklin close method which is to line up all the reasons to do something on the left side and all the reasons not to on the right, that’s so biased to the person doing it. It has to do with your frame of reference and what you want the outcome to be.
A lot of scientific research ends up being paid for by somebody who wants a certain outcome. The scientific method though has merit. You can’t do much better than somebody going into the lab and attempting to disprove themselves.”
“In social media one of the suggestions was the world wants more of the real you. I got to thinking, ‘What am I hiding?’ Sometimes I write a post but think better of it and decide not to post it. I’d like to put my best foot forward. Lately I’ve been testing out some new things based on this idea.”
“We wrote a book last year called ‘Billions Rising’. It was about the topic of people making less than two dollars per day. It was about self-reliance and pointing out some things that were counterintuitive. Sending more money won’t fix the problems faster. It’ll corrupt the system.”
“Some farmers in poor areas starve two months out of the year. Right when the aid comes the price plummets on what they can sell their crops for. You gotta feed starving people but it has unintended consequences. What works there is teaching people how to plant in rows and use fertilizer properly.”
“My biggest mistake was not investing more when I was doing pay per click ads in the early 2000s. I had a formula. It worked. I would spend $16 to make $100. We were selling products with 60% to 80% margin. We were selling used laser printers and were the best at it. I felt larger companies were doing it better. But we were the best at it. If I look at my life where I didn’t do as much as I wanted it was because I didn’t take the bold move.”
“New ways of doing things are very important. A typical CMO is not saying, ‘How can I try new things?’ They want to keep their job. That means the numbers have to look the same.”
“There was research done in the 70s that I believe is still applicable today. They asked companies how they set their marketing budget. 65% of those companies just did the same thing they did last year. The study was done again in 2012 and it’s pretty much the same numbers.”
The last decade
“I have been dealing with a lot of authors, speakers, consultants, coaches and trainers. Now as I’m back to dealing with corporate people I find out that what they want is to have some kind of predictability so they can sleep at night.”
“Today everything we do is about what assets does the company have. What is working? How can we maximize that? With the understanding that we gotta be trying something new because there’s a good chance that in five years at least half of what you’re spending on marketing is not going to work. We need to be more bold because the world is moving faster. Allocate 5% to 20% of your budget to new things you don’t know whether they’ll work.”
“Getting along with the group is not something I look to do. I mean the group as a whole not the individuals who make up the group. I don’t set my price based on what the competitor charges. We look at how we can provide the greatest value. How can we enhance the value? That includes the experience. This includes everything from discovering the product, the joy of owning the product and the fun of telling your friends about it. The customer journey is what’s important.”
“I see it in business publications all the time posting engineer salary comparisons. That doesn’t matter.
What matters is what you can get done. What outcomes you can give people.
If you’re working for a corporation, your first client is your boss because you gotta stay employed.
I know from owning companies and being the boss that the last thing I want somebody to say is, ‘We’re doing it this way because we’ve always done it that way.’ I love the phrase it’s easier to ask forgiveness than ask permission.”
“If you’re not dead, you’re back to play the next day.”
“If I go home tonight and the house isn’t there, I’ve got a new story to tell. Heckuva story about how the house disappeared.”
“Life is just a series of connections and the stories we share.”
Learn more about Warren Whitlock:
http://DailyWarren.com (his podcast show)