While well intentioned, this advice can sometimes be extremely toxic, especially when you can’t assume people even know what their true dreams or passion are. Think about that for a second.
Oftentimes our dreams are manifestations of a direction, but not the actual destination that we want. So, if someone follows a dream without exploring, you may be setting them up for hundreds of thousands of dollars of schooling that they don’t need, and years of pursuing something that ends up not being that important to them when they finally ask, “Wait, why is this my dream?”
Our guest this week is a perfect example of this exploration. Meet Chris Savage. He started his journey on the path to becoming a filmmaker only to discover that that’s not the future he wanted. This led him to become the founder and CEO of Wistia, the number one platform for business video. We’re going to explore when to give up on your dreams, as well as the shift from marketing to brand affinity, and much, much more.
Listen now 🎧
Here we summarize the main takeaways for you to implement or hand off to your team for implementation.
What Brand Affinity Marketing?
Brand affinity marketing, as defined by Wistia, “is an approach to marketing where businesses create and distribute binge-worthy content with the goal of positively impacting the overall sentiment, perception, and value of its brand.”
Why is it important?
Brand affinity is important because it creates brand advocates. It helps create loyalty. Chris explains that people have to believe that the values of the company they’re engaging with are the right values for them. By creating quality content, you create engagement—people spend more time with your content and learn and understand your brand values—and you establish a personal connection. Thus, impacting buying behavior and retention in an extremely positive way.
If people care about your content, they’re likely to care about your products.
Schedule a time to meet with your marketing and media teams to discuss and evaluate your current marketing strategies and how, if you haven’t already, you can start implementing Brand Affinity Marketing into your strategy.
Begin the process of building your own brand affinity. In order to do this you’ll want to create a clear plan for the type of content you’ll be producing. You need to be strategic with your content. “Just like with your product, you can only grow demand by delivering unique content to a focused audience that resonates with their core values and identities.” Additionally, you’ll need to have a distribution plan in place so that you properly circulate and get the most out of your content.
Step 1: Finding a niche audience Identify and understand your business’ values on a core level to determine which audience is best for your binge-worthy content. To determine the right niche audiences for your content, you need to define who you're speaking to, what you're saying, and why they should care. Create a show positioning statement by identifying three key elements: audience, insight, and theme.
Step 2: Creating binge-worthy content Decide on the type of content you’ll create and develop a plan for execution. Podcasts, short videos, books, blog content, are all ways where you can implement brand affinity; however, long-form video series are the best way to execute a Brand Affinity Marketing strategy.
Step 3: Marketing like a media company The essence of a media company strategy is about driving audiences to a central, controlled location to consume content. For businesses, the benefit is slightly different, but you still want to move audiences to an environment where you can capture as much engagement as possible. The key is to create amazing content and then use your marketing to drive people to it—a controlled and dedicated destination.
Step 4: Measuring resonance over reach In order to be successful with your Brand Affinity Marketing strategy, you have to change the way you think about ROI to account for advocacy, rather than just awareness or conversion. However, that doesn’t mean you shouldn’t measure the impact of your content. There are three core metrics to measure success over time: brand search impressions, time watched, and subscribers.
Depending on how far you got with the above guide, begin production and/or distribution of your new content. And as with any strategy, you’ll want to constantly evaluate and measure the output. However, it’s important to keep in mind that it takes time to create affinity. The more time your audience spends with your content, the more they connect and the more likely they are to spread the word. Don’t get caught up in the number of subscribers or downloads, etc., instead also focus on the return value that those truly engaged with your content are bringing your business.
Furthermore, follow up with the audience that’s engaging with your content. What did they like about it? What didn’t they like? What’s missing? This will help you not only improve future content, but also spread and market existing content around that feedback.
Who should own this?
The marketing and media teams.
The end of a season
That's it for season 3 of Protect the Hustle, but we're cooking up a whole new season with more industry leaders, insight, and strategies you can use to keep growing. Stay tuned.
In the meantime
Keep enjoying Protect the Hustle, B-Side. Where each week our own Patrick Campbell goes deep on a topic and provides detailed tactics you can use for your own business.
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This is a ProfitWell Recur production—the first media network dedicated entirely to the SaaS and subscription space.
By Patrick Campbell
Founder & CEO of ProfitWell, the software for helping subscription companies with their monetization and retention strategies, as well as providing free turnkey subscription financial metrics for over 20,000 companies. Prior to ProfitWell Patrick led Strategic Initiatives for Boston-based Gemvara and was an Economist at Google and the US Intelligence community.