The sarcastic joke: “If you have been in a poker game for a while, and you still don’t know who the patsy is, you’re the patsy.” comes to mind in today’s digital marketing world. (used by Warren Buffet in his 1988 letter to investors) — if you are not the “patsy”, you probably know it by now, that’s great, we can talk digital marketing and full-stack technology. If you can’t tell who is the patsy among your competitors, different marketing channels (portals, blogs, social media) or industry influencers, then you’re the patsy. The sad truth is, many fall into this category. (see patsy Quote Investigator article) But you can learn simply, practice for free and test out real useful work before you become the patsy.
Sad Truths and Facts
One of today’s taboo topics is “what happens if you don’t make it?”. What happens to an established product company which can not distinguish itself among it’s competitors? What happens to a startup which does not reach it’s target customer audience? What happens to a government department who is not able to support citizens on mobile phone browsers? In digital marketing, especially in some B2B sectors, these are the real facts. The “sad facts” or “critical measures” you can see yourself. What happens to a company or division where the management is not able to deal with digital marketing needs? What happens inside marketing department where a senior manager can’t lead and deliver strategy or content? If you want to assess your position with respect to your business segment, competitors and even target customers, then do it now. If their digital work outmatched yours, as Buffet says: “you are the patsy”. You don’t have to be part of the “sad facts” statistics, you can do better.
Do You Have to Be Really Smart? or Work Harder?
One key factor in today’s competitive landscape is the global reach. You can see the whole world. Conversely the whole world sees you, your business sector and your competitors. This essentially makes smart and hard working marketers globally your comparison group. Yet there are many marketers which are as smart as the rest and don’t work crazy hours, and deliver work at the level necessary. If you have smart engineers, programmers and marketers, you can rise above the average level with a little effort. If you have resources and work hard, you can create original work, build targeted social networks, promote in industry portals and even attract influencer attention. Both qualities work well in our current landscape which grows at incredible rate. This is the reason we are starting to focus on full-stack marketing.
You Don’t Have to be the Patsy
One thing you should understand, nobody has to be a patsy. This is the message between the lines from Buffet and other experienced professionals. It’s certainly true in poker, investments (i.e. Warren Buffet) and digital marketing. To avoid being the patsy take a lesson from poker and Warren Buffet. Learn, practice (play with friends, paper trading, free personal blogging), start small (write, publish, promote, network for free) and only then go to the professional level. Then you will not be a patsy.