← Do This, NOT That: Marketing Tips with Jay Schwedelson
Do This, NOT That: Marketing Tips with Jay Schwedelson
Ep. 303- ▶️TARIFFS Impact on YOUR Marketing! (no politics!)💡What's Up THIS WEEK! and NETFLIX: 'The Life List' worth watching or not?
00:10:02
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Welcome to do this not that, the podcast for marketers. You'll walk away from each episode with actionable tips you can test immediately. You'll hear from the best minds in.
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Marketing who will share tactics, quick wins.
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And pitfalls to avoid. Also dig into life, pop culture, and the chaos that is our everyday. I'm Jay Schwedelson. Let's do this, not that.
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We are back for what's up this week from the do this not that podcast, presented by Marigold, is our super short episode. We break down what's going on this week in business and marketing and life, and then we still have all their other episodes later in the week. So what's going on? Well, the elephant in the marketing room are tariffs. And there are very specific things that you can be doing in your marketing to keep performance as high as possible during what we call, let's say, uncertain economic times. This podcast will never be political. I don't pretend to understand this stuff. I don't even care what I think about any of this stuff. It's meaningless. What's not meaningless, though, is that it does have an impact on marketing. It does not matter what you believe. Politically, the tariffs have an impact on marketing, whether or not it impacts your business. You might be like, well, I sell a digital course. It doesn't impact my business, or I sell some sort of B2B software, it doesn't impact my business. And that's not the case because even if it doesn't directly impact your business, it is impacting the mindset of the prospects and customers that you market to, whether they are consumers or business professionals. And because it affects their mindset, it does impact your business. So we can't just ignore them and wait for them to go away. There are certain marketing tactics that we should be doing. There are certain key things that we need to be incorporating into our marketing now. Okay. To get into that mindset of our prospects and buyers. So the three key things to incorporate into any of your marketing, whether you're a business or consumer marketer, and we'll get into some specific stats in a second. But the three key things you want to have in your mind are transparency, value, and stability. Okay? The Edelman Trust barometer is this thing that's coming Edelman puts out, and it constantly is measuring brand trust, especially during uncertain times. And it finds that companies who actively mention things like the phrase price transparency are 22% more likely to retain and attract customers. The point of the matter is, even if your prices are not going to change, you're not raising your prices because you might have nothing to do right with the tariffs that are going on. Your prospects and your customers don't necessarily know that. They don't know that. So just because you know it doesn't mean that they know it. And you, when you actually say things like price transparency, you put that in your copy, you put that in your social post, you put that in your email, you put it on your landing page, especially on your website. This has a huge, huge impact. And you may be thinking, Listen, I'm a SaaS company, I sell software. It won't really impact me. Or I'm a wellness coach and it won't have an impact on me. And that very well may be true. But your prospects and your customers don't know that. And that assurance that you can build with them that the pricing won't change is really, really important. Now maybe your pricing will change and that's okay. Telling people how your pricing is going to change so they can get ready for it is really, really important. The other things that are really important are mentioning things like stable inventory. People want to know that if they do buy from you or they're thinking about buying from you that you're going to have the inventory for them. And I'm sure as a business you're working on that right now. You need to be transparent during uncertain times. Transparency is everything. Even saying things like no surprises, putting that in your marketing actually helps out in a huge, huge way. Okay. The other mindset shift that we have to bake into everything that we're doing, again regardless of who you're marketing to businesses or consumers, is that people are going to be looking to cut costs right now. They're going to be looking to spend smarter. And you want to be able to put that into your marketing. So let's say you are that business to business company. You can put into your subject lines, into your social post, into your landing pages, things like cut costs, keep performance or spend smarter, not more. Or this replaces three other platforms. You are getting into the mindset. Listen, there are meetings going around, all around the country right now about how are we going to cut some costs because we don't know what's coming. Those are the meetings that are happening. So when your marketing then gives your prospects and your customers tools to actually cut costs, to actually save money, that is how you win. And it's the same exact thing on the consumer side, leaning into cost to your prices not going higher to being a good deal. You know, Google shares this data that during Uncertain economic times. This is Google searches for things like cut costs, reliable and trusted. They absolutely surge. They surge massively. Because this is where our mindset is, right? This is what we are thinking about. So getting involved in what is going on, the tariffs is going to benefit your organization in a huge, huge way. And it's not where you're trying to take advantage of the situation, but you're trying to make sure that you are acknowledging it. The other tactic that is probably more important than anything I just talked about as it relates to the tariffs and your marketing is social proof. Social proof everywhere. People need to know that what they're investing in is the right choice because they can't afford to make a bad choice, right? Because there's just not enough budget out there. So including social proof everywhere is really important. All right, let's get into some meaningless stuff, because I like the ridiculous portion of this podcast that's way more fun to talk about. So what nonsense is going on? So, of course, I spent the weekend watching some ridiculous stuff on Netflix. The number one movie right now on Netflix is something called the Life List. Okay? This is a very good movie. Now, it's not a very good movie like Citizen Kane or Gone with the Wind. It's a very good movie, like a Hallmark movie. And I love Hallmark movies. If you don't like Hallmark movies, then you should probably unfollow the show because they're incredible. Nothing bad ever happens in a Hallmark movie. So anyway, the Life List, it's been number one for like, three weeks or whatever on Netflix. It's. It follows. It's based on a book, right, by Lori Nelson Spielman called the Life List. And it's very good. If you haven't watched it, you should watch it. It's relaxing. It's unlike that show that's coming out on Netflix. You Season 5 of youf is coming out where the guy's like a murderer. That's coming out in, like, two weeks. I can't handle that show. I will watch it, but it stresses me out. It really does stress me out. Another thing that is going on right now, I saw this on social media, and I don't know why I follow Meghan Markle so much, but I guess I do. So Meghan Markle has her really weird show on Netflix. I don't know why. I've watched a lot of episodes of it. It's very random. She makes stuff that I can't imagine anybody would be interested in, like Jam and Honey and. And Rainbow Fruit Platters and I watch it. I don't know why, it's not very good, but I don't have any problem. Meghan Markle. Whatever. So on social media, though, she announced that she launched her product line from her new company, as ever. And she announced. Amazing news, everybody. Our first product, our jams, they've sold out instantly. This garbage that influencers are doing now where they immediately announce something sells out. It's a joke. She probably made seven of them, okay? And then her six friends probably bought them and one person probably thought they were on the wrong website and they bought one. And then she announces that it's sold out and she runs around everyone's, oh, my God, sold out. I am going to do this, okay? I'm going to announce a new product line of shoelaces, and then I'm going to make three of them and then I'm going to announce that they're sold out. This is ridiculous. There should be some sort of threshold out there of if you're going to announce a product sold out that you've sold, you know, X number of them. Because it's misleading. It just is. I don't care what anybody says. Meanwhile, fast forward. Am I going to probably wind up buying this jam and trying it out? Yes. Jam is underrated. I like jam. I'll try jam that anybody makes because I have no life. So that's what's going on. What else? Anyway, listen, if you could leave this thing a review, you'd be awesome. It makes the show circulate. But more awesome than that, okay, is if you register for Guru Conference, that is our giant free email marketing event. It is free. It is virtual. It's two days long. We will run out of virtual seats. Guruconference.com check that out and leave us a review. What are you doing later?
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You did it. You made it to the end. Nice. But the party's not over. Subscribe to make sure you get the latest episode each week. For more actionable tips and a little chaos from today's top market marketers. And hook us up with a five star review. If this wasn't the worst podcast of all time. Lastly, if you want access to the best virtual marketing events that are also 100% free, visit guruevents.com so you can hear from the world's top marketers like Daymond John, Martha Stewart and me. GuruEvents.com check it out.