118 – Brand Hustle: How to accelerate your business with Troy McKinna
When it comes to marketing I have to admit that I’m a little on the naive side. I know it’s a huge industry, keeping many gainfully employed. But what really is marketing? How is it different from advertising? And most importantly, how is the world of marketing changing?
To answer these questions I’m joined this week by Troy McKinna. Troy is an entrepreneur and brand building specialist. He is the co-founder of Agents of Spring and Quest Beverages and has worked with some of Australia’s most recognisable brands, including Mars, Snickers, Schweppes, Gatorade and Cool Ridge
Troy is the author of a new book titled “Brand Hustle: 4 critical foundations to accelerate brand growth.”
Four key foundations for growth
- Find your consumers most valuable problem
- Design a clear solution that delivers results
- Sell experiences that drive future profit
- Embed memories that last a lifetime
1960, Jerome McCarthy coined the four Ps of marketing. Price, promotion, product and place. In most companies marketing has become an advertising department. When your business is so busy getting making this year’s numbers, it becomes oblivious to the long term threats.
“Let’s just hit that number this year, this quarter. Now you’re just going through the motions just to hit that sales number. Take car salesman for example. Car salesmen are the least trusted profession in Australia. The whole experience of buying a car hasn’t moved with the times. The marketing of cars just isn’t relevant for a lot of families. That’s a great example of this idea. If you don’t keep your eye on the ball, play the long game and keep invigorating the brand, it just declines.”