158: Sales Is Broken, But It Can Be Fixed
Good morning and welcome to the thing future podcast I’m your host Chris Kalaboukis and once again we’re coming to you live from deep in the heart of Silicon Valley California. You know what I hate you know what I really hate I really hate when marketers just interrupt my day with a pitch that has absolutely nothing to do with me don’t you also hate the same thing don’t you hate it when all of a sudden you’re sitting there you’re deep in thought you’re working on something you’re focused. And then suddenly the phone rings the phone rings and it’s a local number and you think oh I wonder who that might be and you pick it up and it’s some marketer from some foreign country. Trying to pitch or something trying to pitch you something that you do not need you have absolutely no need for this. You obviously understand that they did absolutely no. Research to determine the you were the target market for whatever the heck they were pitching. And you annoyingly. Either barked back at them saying don’t call me again or just hang up how many times this happened to you so that’s the phone but then you look online and you look in your email how many messages are you getting day in day out from marketers who are trying to pitch you something that you have absolutely no need for and if they had taken three seconds to research you on Linked In or Facebook or whatever they would realize that you are not in the market for whatever they’re selling. Emails ads huge swaths of the Internet ninety percent of the Internet if you ask me are thinly veiled sales messages just basically people out there clamoring for your. Business even though you aren’t anywhere near the target market for their business yet they’re spending tons of money with Google and Facebook and wherever to put an ad in front of you which is poorly targeted. You. Have certain things you have certain needs you do there are things that you want. You there are companies that you want to contact you there are things that you actually need. But for some reason. Actually know the actual reason but for some reason you’re not getting that you’re getting inundated with sales messages from everywhere even though none of it or very little of it actually applies to you. And there’s a number of reasons for this there’s a number of reasons for this one both Google and Facebook make a ton of money off of mistargeted advertising. Where you say oh you’re saying well. When you talk about we talk about Chris. Don’t you think Google and Facebook want to target people as closely as possible so those ads can be effective because it’s all paperclip. Yeah sure but you know what happens sometimes is that those. They put algorithms in on purpose to show your ad more often and to get more clicks that may or may not be targeted. So thing is is that there’s a ton of companies that are making a ton of money off of you. Spring and prey. There’s a ton of companies who are making a ton of money hoping that your don’t want to supremely target your customer because it. Supreme Lee target your customer then they won’t make a lot of money because think of it this way let’s say you were able to figure out exactly what your customer wanted at the exact right moment and you have the exact right offer to place in front of them. How many clicks do you think it were remedial or how many clicks can they sell you if that were the case. One. Google or Facebook don’t want to sell you one click they want to sell you a multitude of clicks to customers who may need be in your market or may not be in your market even though they know they know who’s in your market I mean if you think about it you don’t have to target as broadly as the targets that they give you in fact Facebook and Google know a lot more about their customers than they’re allowing you to target for and this is where they make money they make money in the differences between the supremely accurate targeting that they’re familiar with and the targeting that they give you right so they can give you a ton of clicks or they make you pay for a ton of clicks within a particular spread but they themselves can actually supremely targeted it only to the specific individuals who are ready to buy but they won’t release that to you because they still want to make a ton of money off that a range of clicks that they’re going to sell you. You see in an ideal world what would happen is that you would be able to target down to the exact moment that your exact customer needs to buy. And. With the systems that we have in place today Google Facebook all of social media all. Of communications that people are putting out there on the internet you are able to determine or predict exactly when someone may need some service and exactly where two birds end that ad for that product or service at the right moment in front of that customer. And if you did that then all that these companies would be able to charge charge for was that one click OK. This is The World I’m describing. When you go online instead of your email box full of messages from. Sales people. That have nothing to do with what you need it’s empty the only messages that are there are people messages for work or specific tasks you need to do. When you go into your Facebook stream all you see are messages from your friends you don’t see any sponsored posts at all. When. You’re sitting there working your phone doesn’t ring with a local number. With an offer of that has nothing to do you with you. All of a sudden the Internet has gone quiet what happened there. Then let’s say. You’re thinking about or the lease on your car is just about to come up. So you do a quick search. For some model Beals. A couple of minutes later or just at the moment where you’re deciding to make that purchase or make that new lease payment or make pick up that new car for the lease you get a single ad tailored specifically to you. With the exact information that you need. The exact photo the exact link the exact everything that appeals specifically to you for that specific automobile that it knows you want because it’s seen you looking for it. And it presented you that offer the perfect offer at the perfect moment in your stream and that is the only ad that you see. And you think to yourself wow. That is exactly what I need right now and what happens you click. One click. Now. That kind of stuff is available today now how much would a deal or how much do you think a dealer would pay for that one click. Right now they’re paying Fauzi and thousands of dollars. To spread the Internet with hundreds and hundreds of ads that people may or may not click on because we have no idea if they’re ready to click on that button. So it will just do for fun so people just do for more information but if you or the advertiser wouldn’t you only want to put that ad in front of somebody when they were absolutely ready to click. And as somebody who sees all these ads in my stream day and day in day out I would love to have a completely empty stream a stream completely empty of ads except for ads that are highly targeted and relevant to me at this exact moment. So. You’re probably seeing yourself but Chris this the system exists kept on so it absolutely can be done it absolutely can be done because all of this information exists today we are. Individuals on the Internet are signaling their preferences and their likes and dislikes and. Everything about themselves right now and all these companies are gathering these statistics all of this stuff is being gathered and is in huge data repositories right now so if we wanted to we could truly target pinpoint target these people at the moment they need to buy or the moment they want to buy with the exact right offer we can do this today this is the future. Of business development. But is it happening. Not yet but we’re working on it that’s it for me for today see you next time and until then don’t forget to think future.