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MARKETING MATTERS

What can business owners learn from NBC’s Olympic mistake?

The first actual “broadcast” of the Olympics happened on closed-circuit television in Berlin, Germany for the 1936 Summer Olympic games, but it took nearly thirty years until the USA followed suit.

In 1960, CBS paid $50,000 for the rights to broadcast the winter games in the USA—which was the first time the games were aired on television in America. Seeing their investment pay off, CBS doubled down in that same year for the Summer games by spending a whopping $394K (an estimated $3.15 million in today’s dollars) to obtain exclusive distribution rights for the summer games in the USA.

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Understanding Your Buyer’s Journey

Do you know why your customers buy from you?

Not just a statement that you’ve crafted as to why your product or service is superior to your competitors, no…  do you actually understand the decision making process going on in your potential customer’s mind when they decide whether or not your product is right for them?

For years, marketers and salespeople alike have worked hard to reduce the sales process down to a scientific formula—some know it as the AIDA formula.  The AIDA formula explains that a buyer must become

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