In May 2013 I attended a HubSpot webinar hosted by Marcus Sheridan, the former owner of a Virginia-based in-ground pool company and now a TED speaker and content marketing specialist. The webinar, titled “The Honest Economy & Instructional Selling,” centered on Mr. Sheridan’s story about how trying to make payroll when the economy tanked in 2008 shifted his marketing strategy forever.
With homeowners suddenly upside down on their mortgages and skittish about luxury purchases, he had to do something drastic to see his pool company through the recession. He and his partners started a blog full of honest answers to every question they’d ever received from prospects — even laying bare the negative aspects of their products.
By adding this educational value to their website, they were able to cut their annual $250,000 marketing budget by 90% and generate over $2,000,000 in sales. The idea that transparent, educational content could yield results like that fundamentally changed my view of marketing, and the line that pulled it all together was “be the Wikipedia of your industry.”