Robert Iger is the current Executive Chairman of The Walt Disney Company. Bob Iger has driven Disney’s revenue up by over 500 per cent in the time he joined the company. Iger’s market capitalisation plan has taken Disney’s revenue from 48.4 billion US Dollars to 257 billion US Dollars. In this article, we will be discussing Bob Iger’s marketing tips that he used to blow up the revenue of Disney and how you can use these same tips to grow your business.
The benefits of marketing are endless. Good Marketing can take a business from the edge of bankruptcy to breaking financial records. Marketing is essential to reach consumers and to convince investors that your business or idea is worth the value you have given it. Let’s discuss seven marketing tips of Disney’s CEO Bob Iger.
SEVEN MARKETING TIPS
- Have a clearly defined strategy – Bob Iger emphasises the necessity of having a strategy. A strategy is necessary for marketing and growth. Your strategy is your game plan. You need to have a clear picture in mind. Where is your business or company going? What are your goals? These will help inform your chosen strategy.
- Customer Base and Customer Loyalty – Disney has very loyal customers and a set customer base. This is very necessary for marketing and success. You need to know your target audience and then earn their loyalty. This is the most effective method of marketing. If people love your products, they will recommend them to their friends which is more likely to generate sales than a billboard advert.
- Moving from Strategy to Execution – Moving from strategy to execution is essential. Some people get stuck planning out their strategy and then forget the importance of execution.
- Produce Branded Content of High Quality – High-quality content is essential if you want marketing to be effective. If your products are bad, no amount of marketing can hide that. You need to focus on making high quality branded content.
- Feedback – Feedback is vital for growth. If you own a small business, it can be hard to receive negative feedback or constructive criticism, but they are essential. Learn to separate negativity and constructive criticism. Constructive criticism helps you understand what your customers want, which will be more profitable.
- Global Growth – A global platform gives you access to millions of people worldwide. Don’t get stuck in a “physical location” bubble. Venture into online sales and see if you can market your products online.
- Create Better Products – Finally, Bob Iger says you should keep creating better products. There is always something that could be better and look better. If you sell clothes, see if you can produce them with better fabric or better ethical choices. Once you achieve your goals, have new ones. Your customer base will grow, and it is important to grow with them.
If you’re a fan of Bob Iger and want to know more about him check out this article that details how he organizes his very busy schedule. You can find it here.