Before being hailed as one of the top marketing bloggers in the world, Mark Schaefer had to apply the process of cumulative advantage. After more than 30 years in the fields of global sales, public relations, and marketing, he is now one of the world’s most popular business-related keynote speakers. Today, Mark has written numerous bestselling books and inspired countless marketers and entrepreneurs.

In this episode, Mark shares some key takeaways from his latest book, Cumulative Advantage. Specifically, we learn the five-step process to bring about this advantage. We also gain some practical applications of this process. Mark talks about what the third consumer rebellion is and why marketers should care. These lessons are so valuable that you can readily use them, regardless of what agency you run.

Tune in to this episode to learn more about how you can build cumulative advantage, the Mark Schaefer way.

Mark’s Bright Ideas

• When Marketers Abuse Customers, They Rebel
• Momentum is the Pursuit of an Idea
• Develop a Strategy from Opportunities
• Pay Attention to the Shifts and Seize Them
• Don’t Underestimate the Power of Social Proof
• View Mentorship in a New Light
• Face Challenges with a Constancy of Purpose

When Marketers Abuse Customers, They Rebel

Marketing and advertising became a big deal in the 1920s. To compete in this space, advertisers made bigger and bigger promises, to the point that they became lies. So, customers rebelled, and advertising got regulated.

Meanwhile, the second rebellion came with the advent of the internet. During this time, brands could no longer hide their business model from their consumers. Mark calls this rebellion the end of secrets. 

We are currently experiencing the third rebellion or the end of control. Even top marketers think of marketing as manipulation. However, consumers are now more informed than ever; they can make good decisions. So, marketers are compelled to look for ways to meet customers at their point of need. Marketers need to know how they can earn their way into the customers’ narrative.

Momentum is the Pursuit of an Idea

In the marketing and advertising space, it is challenging to be heard and stand out. This dilemma led Mark to research momentum. He found that “all momentum begins with some initial advantage.” Successful people and businesses almost always started with a random event.

For example, before Nike was born out of one track coach’s struggle to find the right shoes for track athletes. One day, he came up with the crazy idea of pouring latex in a waffle iron and created padding for track shoes.

Everyone has this initial advantage. We all have ideas, but these can only develop into momentum if you pursue them.

Develop a Strategy from Opportunities

As opposed to traditional planning, Mark views developing a strategy through an American football game. A coach views both teams from above the field and asks: “Is someone out of place? Is someone tired? Is someone overmatched? How can we take advantage of that momentary opportunity to burst through that scene with all our force and all our strength and go as long as we can?”

He urges us to do the same and see the fractures and shifts in the status quo. All of these changes are opportunities. Ask yourself how you can take advantage of them. Then, apply that to a scene to create new momentum. This is the ultimate strategy.

Pay Attention to the Shifts and Seize Them

One of Mark’s practical tips for marketing agencies is to be aware of the shifts and do your research. 

This advice is especially applicable now that we are experiencing a pandemic. For instance, the number of people suffering from chronic sleeping problems has drastically increased. As an ad agency, what can you do with this information? How can you appeal to your audience differently?

“If you see something that doesn’t make sense, like the sleep deprivation thing, dig down and read why. How does that apply to me? How do we use our core competencies to help our customers or create some new value because of this change?”

Don’t Underestimate the Power of Social Proof

Once you’ve started the momentum, you need to create awareness. A powerful way to do this is by using social proof. 

Assuming that customers make independent decisions is a common mistake for advertisers. Remember, “people almost never make independent decisions, especially if the dollar value is high.” An experiment showed that consumers are more likely to buy top-rated products than low-rated ones, even if these are inferior in quality.

View Mentorship in a New Light

Helping someone create momentum in their lives doesn’t need to be a long-term relationship where someone teaches you something. You can learn almost anything on the internet. So, Mark thinks that mentorship is a trusting relationship that will open doors and create opportunities. 

By reimagining mentorship, you help others create their momentum. Mark shares, “We all need to reach up and reach out to create our own momentum. But we also have the power to reach out and reach down and help other people create momentum.” 

In this part of Cumulative Advantage, Mark also writes about how you can find these people and reach out to them.

Face Challenges with a Constancy of Purpose

Sometimes, when things go wrong in a business, the instant reaction of owners is to panic. They may then make changes that may not resonate with their customers. Remember that there is value in the constancy of purpose. You need to have the grit and determination to show your customers that you have what it takes to solve problems.

There are two kinds of pain:

1. failure
2. having the discipline to keep the momentum going

Mark states, “If you can withstand that pain of having the discipline of doing those things to keep the momentum going, then you won’t have the pain of failure so much.” 

What Did We Learn From This Episode

1. Consumers are more informed than ever. So, marketers need to rethink how they can resonate with their audience.
2. There’s a five-step process to build a cumulative advantage.
3. Pursue your ideas to create momentum. 
4. Seize the fractures of changes in the status quo and see what you can do with these opportunities.
5. Pay attention to these shifts and do not let them pass by.
6. Social proof is a powerful marketing tool.
7. Mentorship is building a trusting relationship that leads to open doors and opportunities.
8. It’s essential to have the constancy of purpose to keep your momentum going.