Obeying the “Marketing Potency Formula”
Consider this formula:
Reach x Social Cred = Marketing Potency
The common component most people consider when thinking about Marketing is Reach! Reach is obviously summarised as “how many people does the activity reach”.
There are many sub-categories and measurements of Reach, but let’s keep it simple – It is how many eyes see your marketing. This can obviously be anything from 0 to 6 billion+.
Social Cred is an often-ignored component. That’s because it’s often harder to define, measure or implement. My simple explanation for Social Cred is: it either makes you look smart, or attractive, successful or honourable.
As an example, Instagram has largely become a platform for individuals to pursue Social Cred – most posts from individuals have an underlying motivation to illustrate that they are Smart (sharing an opinion), Attractive (needs no explanation), Successful (sharing accomplishments) or honourable (look at the good I am doing).
The interesting thing about these 4 categories, is that overbalancing on the first 3 can really impact the 4th. i.e. Constantly shouting that I am "Smart", "Attractive" and "Successful" reduces my ability to prove that I am Honourable.
So, getting back to the Marketing Potency formula. Let’s add a scoring method to bring it to life. If Reach can be scored between 0 (reaches no-one) and 10 (reaches millions) and Social Cred can be scored between "minus 10" (makes you look really bad) and "plus 10" (you look Smart, Attractive, Successful and Honourable) then…
Just focusing on reach, risks a potency score of 0… 10 x 0 = 0
What does this mean for Clubs?
Well trying to sell a partnership on your reach alone is a tough gig for a small club. You’re always going to be well behind the other options. And yet, so many partnership pitches are heavily built around reach???
The most powerful thing your Club has are the initiatives that support the role it plays in the local community! Those initiatives have a meaningful impact on everyday Australians and as such have a high “honour” score to them. You have more potential for a partners marketing potency due to the Social Cred the partnership provides, then your ultimate Reach.
DON’T SELL REACH, SELL POTENCY!
To do that, sell the opportunity to be part of the service your club provides its community. Give the partner the opportunity to be a key player in the successful pursuit of the clubs Aspiration and take responsibility for sharing the honourable kudos with your partner.
And by the way, there are powerful market places to buy reach (Facebook Paid Advertising for example) already available to your potential partner, buying Social Cred is a much harder transaction for most businesses.