Monkey Monday - November 23rd, 2020

Are you marketing your business in the right way? Learn about the PESO model.

Online marketing | Monkey Mondays |

There are almost limitless options when it comes to marketing your business online, yet so many businesses get stuck in a rut of always doing things the same way. You pile all your budget into just one avenue of marketing, never exploring the other channels available to you, and never reaching your true potential.

In today’s Monkey Monday vlog, Matt and Chris are introducing the PESO model, which maps out the countless ways you can market yourself online. Some strategies work better for certain businesses, while other less-explored paths might do wonders for yours.

Here’s the breakdown

00:00 - Requiem

00:50 - PESO

03:46 - Emails

06:05 - Windmills

07:57 - Yellow Pages

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Transcript Show / Hide

Pie Jesu... Pie Jesu... It's actually PESO, but you know, the classical music's Pie Jesu..? I don't know. I've just...
I'm just gonna let you carry on and see how long you're gonna do this for.
I could sing it again if you want.
No, you're alright, thanks. Hi, I'm Matt.
I'm Chris, the choir boy.
You were in the choir, weren't you?
I was, yeah, I was really good. But I don't know where the voice has gone, sadly.
Oh, I thought it was very good.
Thank you.
We can, uh, auto tune it, can't we.
Oh thanks.
Yeah.
Like all modern pop songs.
Yes.
So we're going to talk about the PESO model. Look, Matt's even printed out a thing.
I've printed out again. I feel bad about printing.
Yeah. It's bad for the environment.
No more print outs.
No.
That's our promise to you for next time. No more print outs.
Oh, okay.
So the PESO model, what is the PESO model, Chris?
Well, it's all different ways you can market your business. And I might as well use the paper while it's here.
I killed part of a tree for it.
There's an awful lot of things on this business. And what I really want to get across today is that, um, we're, we might put a graphic here. I might leave it there for a little bit because, uh, lots of people. Start with, uh, marketing their business through a tiny portion of it. Like SEO is down here somewhere and everyone, some SEO companies will go, this is the most important thing in the world. And actually it's a tiny portion of an entire big ecosystem where, um, PR and, um, becoming an influencer might be, uh, better for your business.
Yeah. So we're not here to go through the PESO model, right, cause it's huge. But we are here to kind of share it with you and, uh, help you understand the importance of understanding how big it is, I think. PR is a great one actually, because PR agencies are great. Love PR agencies. They really do serve a purpose. Um, but a lot of them kind of sell themselves as, oh, we do all online marketing, but they kind of don't really, they do a small section of it shown in this model. Um, and they kind of branch out a little bit, but mostly the PR experts are there to serve that PR part of the PESO model. And it's the same with the SEO experts. And it's the same with paid advertising experts. Um, I guess you guys who communicate with us through our, um, Monkey Mondays and through the chats we have, um, most of you guys are business owners or you're marketing managers. So for you guys really understanding the PESO model is a valuable thing because you get to see the whole big picture. Now you might end up - depending on the size of your business, and how you run your business, and what kind of internal team you have - you may have one, uh, business looking after your SEO, maybe you may have, uh, another agency looking after your Google paid advertising. Perhaps you have an internal department that looks after your, um, social media marketing. I think understanding who is responsible for what in the PESO model is a very powerful thing. And making sure that they're all delivering the same message and on the same page, I think is key.
Yeah. And it used to be that, um, in marketing terms you would say, I want to have a good marketing mix and that would basically be display advertising. It would be, Oh, yes, let's put something on the TV. Let's put something in a magazine. But those are two very tiny portions of it. And, um, I want to put you on the spot here.
Oh dear.
Um, so what would you say is the most underrated part of the PESO model?
Oh, man, that is really hard. Um...
Cause there's things in there like reputation. I mean, the things that not many people think about. You can look at the PESO, go on.
I don't know, man. I don't know...
Because everyone in the online world just goes, yeah, let's just do Google advertising or I'm just going to tweet a few random tweets and see what happens.
Hey, do you know what, I'm going to, I'm going to go with, uh, I think email marketing.
Oh yeah?
Yeah. I think it's really undervalued and done really badly as well, sometimes. I think that's, that's probably a really important thing. And I kind of, we've been looking, we're doing a lot of research, we've been talking to a lot of businesses, we're involved with lots of tech blogs, and we're seeing a real shift with online marketing. I think we've talked about this before, you know, browsers are becoming more protective of users so that you can't, you know, stalk them so much with, um, I don't know, Google remarketing, for instance. It's going to become harder and harder to do those things, but I think genuine subscribed audiences to email marketing for instance is, and if you're giving them really good content that isn't just you going, Hey, 50% off. Hey, here's our latest, um, I don't know, t-shirt, whatever you're trying to sell. If you're giving them stuff that they kind of care about. And the audience is really defined because otherwise you're just shouting in a, um, you know, shouting in a cave, aren't you really?
Yeah. I think the way society is going, I think personally, a lot of people are getting more turned off by being sold to, and just normal advertising and all that 50% off nonsense. I think that's that that effectiveness is going down and down and the ethics and having, uh, a crew of people who you can work together with is becoming more and more prevalent. And, uh, it's only a good thing. I think people just rejecting being manipulated. I think it's quite good.
Yeah. I mean, I do find some parts of the PESO model a little bit ugly, actually. I think, uh, influencer stuff, the power of influencer stuff is really great, but I don't know. You see it a lot down here influencers rocking up to a restaurant and going, uh, give me some money off, I've got X thousand followers on whatever I can give you a good review or a bad review. I just find it a bit, it's a little bit insidious, some of it. Um, but it can really work for people and we don't want to pass judgment on, on all of this stuff. Um, we're just kind of getting our gut feelings out there, but for you guys, um, I think there's a lot of power in understanding just the basics of the PESO model, understanding that, um, there may not be any one right answer. A good strategy that you could develop yourself might explore certain avenues. For instance, SEO could be a really good opportunity for you because you might have a really niche product. You're selling windmill hats in, um, Sneinton - local to Nottingham, there's a windmill there - so maybe you're selling windmill hats to local windmill enthusiasts. I don't know. Uh, it's a really specific thing. And in that case, SEO could be a really good opportunity. If you're selling car insurance, organic SEO is going to be a nightmare for you because you've got people spending millions of pounds to try and win the price comparison sites at the top. So, uh, understanding where your market opportunity lies and looking all across the PESO model is valuable.
Yeah. I'll, um, Mel will put a link down there to this graphic and you can take a look at, um, how much you're doing in this entire model. Uh, yeah. And see what you can improve on. I mean, part of me would want to hark back to the times when we could have just put an advert into the yellow pages and changed our name to, um...
AAA. AAA web agency.
It would have been, it would have been so much easier wouldn't it.
Yeah, gone are those heady days.
Yeah. But just take a look, see where you are and see what you're missing out on.
Yeah. Hope you find it valuable. And we'll be back next week with some more swear words. Bra.
You're putting words in my mouth.
Bra's not a swear word by the way. It's just kind of naughty, rude, boyish humour, isn't it.
Bra.
Bra.

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