- Marketing in the Age of Machines
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- How to price your product the right way
How to price your product the right way
A weekly email with the best of marketing, AI, and business.
Marketing in the age of Machines by Castleberry
January 11, 2024
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Welcome to Marketing in the Age of Machines. Each week, we bring you the following:
👉 An innovative marketing strategy that has worked for others.
👉 The 3 most relevant contents in marketing, AI, and business that will help you understand the ever-changing landscape.
👉 3 tools for the Marketer of the Future.
👉 The quote of the week. A simple take on everyday marketing concepts.
🤓 We sold over $100M worth of silicone wedding rings in 4 years with QALO.
Problem: QALO faced a challenge in making their ads immediately effective. The issue was to prepare potential customers for a purchase by creating a campaign that resonates and surrounds them with signals indicating QALO rings are the ideal choice.
Solution: QALO strategically immersed themselves in the world of their target audience—married/engaged crossfitters. They saturated the CrossFit community through partnerships, influencer deals, events, and charity collaborations. The result was an omnipresence that, when coupled with the ad, triggered an instant "AH HAH" moment, achieving a remarkable one-day click ROAS at 6x.
Lesson: The principal lesson is to prioritize understanding the customer and strategically placing products in their physical and digital surroundings. Rather than obsessing over ad content, businesses should focus on becoming a constant presence in the customer's life, emphasizing the importance of an informed customer profile before expanding and growing a brand.
How can you immerse yourself in your target audience's world to create that "AH HAH" moment and boost engagement?
We sold over $100M worth of silicone wedding rings in 4 years with QALO.
We did it primarily with product on white ads like this one.
No fast edits, crazy hooks or fake UGC.
Here's how we made this ad so successful without touching the ad account...
— Taylor Holiday (@TaylorHoliday)
5:53 PM • Jan 8, 2024
1/. How To Price Your Product: A Guide To The Van Westendorp Pricing Model: This post delves into the critical challenge of setting the right price for a new product launch, a decision pivotal to a business's success. It introduces the Van Westendorp Model, a data-driven pricing strategy using surveys to gauge customer willingness to pay. The model's unique approach, overcoming flaws in traditional survey methods, and its potential to reveal optimal price ranges make it a must-read for businesses navigating pricing complexities.
Insights for B2B Marketing Directors:
While the Van Westendorp model provides valuable insights, B2B marketing directors are advised to supplement findings with real market data through validation testing. Live testing is emphasized as crucial for understanding customer decisions, taking precedence over survey analysis when feasible.
Read the full post here:
Are you ready to hire a content marketing agency?
Answer 12 questions about your brand and find out how ready you are and what you are missing to hire a content agency.
2/. B2B Blogging Evolution: Content Marketing Networks: Explore the evolution of B2B blogging from traditional practices to the dynamic era of Content Marketing 2.0. This shift prioritizes tailored content for human readers, emphasizing audience understanding, influencer collaborations, and employee participation. This post concludes with a practical guide on transforming a B2B blog into a content network, urging businesses to embrace this change for enhanced brand presence and authority.
Insights for B2B Marketing Directors:
Recognizing the growing impact of influencers in the B2B landscape, explore collaborations with subject matter experts. This strategic shift towards credible and thought leadership content can elevate overall content quality, fostering authenticity and enhancing brand authority.
Encouraging employees to contribute enriches content, showcasing the company's commitment to delivering valuable insights and strengthening audience connections.
3/. Bryan Johnson sold his payments company for $800M: Bryan Johnson, who sold his company Braintree Venmo for $800M, is now on a mission to revolutionize the $1 Trillion Health Industry. After spending $4M to reverse his age from 46 to 18, he's sharing his health journey and knowledge for free. Johnson's ambitious $100B plan involves creating a health movement, Blueprint, focusing on meals, supplements, health devices, and gyms. Through extensive content creation on YouTube, Johnson aims to build a community, showcasing the extreme daily regimen to demonstrate possibilities and eventually offer more accessible health products.
Bryan Johnson sold his payments company for $800M.
Spent $4M to reverse his age from 46 to 18.
Now he's choking the $1 Trillion Health Industry by redesigning meals, supplements, health trackers, and gyms.He’s not here to take part, but to take over.
His $100B plan👇 thread🧵
— Ryan Hashemi (@ryanhashemi_)
6:08 PM • Jan 9, 2024
👉 Tools in the Age of Machines:
Zuddl: A versatile event platform that can be used to host a variety of virtual, hybrid, and in-person events.
Klenty: A sales engagement platform designed to help salespeople reach out to prospects more effectively and efficiently.
Coschedule: An all-in-one marketing calendar and content management platform designed to help marketers organize, streamline, and optimize their workflows.
A big part of marketing is truly understanding your constraints and how they impact your strategy.