Marketing, refers to all advertising done through both paid and owned marketing channels. It’s about creating messaging that drives a targeted action, and it’s key to “hitting plan”. At least that’s how most people think of marketing, as tactical work by an organization trying to sell something.
Marketing, however, is so much more and so much deeper than that. Those who understand this are at an advantage, so I’m always looking for ways to reframe it.
David Perell’s That Is Marketing is like Seth Godin’s This Is Marketing.
David and Seth both eloquently and quickly strip marketing down so as to build it back up into something stronger. They’re not just worth a read, they’re worth truly thinking through.
When a retail investor buys securities, or stock, (e.g. 20 shares of Netflix), they’ll more often than not refer to this as “investing”, but that’s not usually what it is. That same retail investor may argue that by the Merriam Webster definition they really are investing by “committing money to gain a financial return”. However, if they were to look up the definition of gambling, might they actually simply be “betting on an uncertain outcome”?
If your decision to buy a security is driven by a sentence similar to “I think that the price of this stock will go up”, you’re probably gambling. What then, when buying stocks, would distinguish between investing, gambling or donating?
Part 1: Buying stocks is like gambling
This is a 3-part post, with posts 2 & 3 to follow