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What is Double Loop Marketing?
Double loop marketing is a term coined by online marketing consultant Christian Sarkar. It is simply the notion that in today knowledge driven world, marketing should also be knowledge driven and not product driven.
The first loop in double loop marketing is creating a “mind share” amongst prospective customers by creating a knowledge (or information) sharing community around the company’s products. This can be done effectively through the company website. It is about creating a dialog with the target group by sharing information that is useful to them, thus establishing the company (or brand’s) credibility or thought leadership in their mind.
Then comes the second loop, which is about converting the “mind share” to “wallet share”, i.e. convincing the community members to go ahead and buy the product.
Double loop marketing keeps community before commerce and is ideal for innovative products which require education. Even for me-too products consumer oriented and useful information can always be shared with the audience to make them aware about things they hadn’t known before.
Hubspot, which sells inbound marketing products is a good example of double loop marketing. If you are an online marketer, you would have, at some point, benefited from their treasure trove of content, and convinced by their authoritative content on inbound marketing, would have been tempted to buy their products.
Not just Hubspot, today there are score of top bloggers who first built a strong community of followers with their expert and original content and then started selling products suitable for their community of followers. They are all examples of double loop marketing.