An Interview with Chuck Miller of The Market Element
94% of all startups fail by year three, so how did Chuck Miller, President of The Market Element, make his business stand out from the rest of the crowd? We sat down with Chuck to talk about his business, the way he approaches marketing, to what he attributes his success, and his experience officing with Office Evolution.
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About The Market Element
My name is Chuck Miller, I'm the President of The Market Element, I started the Market Element about three years ago in 2013. We are a full service digital marketing agency and we specialize in is helping businesses realize their growth potential using digital marketing through both strategy development as well as execution on marketing plan and also developing creative assets.
What sets you apart from your competition?
So what's really unique about The Market Element is the approach we take with our marketing strategy. That is founded on what's called inbound marketing or pull marketing. We create a website and content that attracts people to come to the website. Then, through tactics and good content and creativity, we are able to capture that traffic, have them become leads, nurture those leads into opportunities, and then ultimately nurture those opportunities to sales. That approach is called inbound marketing. It’s something we've invested in a lot and we've found a lot of success helping companies take products to market and grow the business.
What do You Attribute your Success to as a Startup?
I recently learned that 94% of all startup companies fail by three years. July of 2016 represents our third birthday. I would say it comes down to a few things:
We have collected a great team, and I think that goes a long way in terms of our success.
Investing in Creative Elements:
We also have invested heavily in the creative element of things.
Love What You Do:
We went into this business not necessarily to make money, even though we have goals to drive revenue and profit. However, that's not why we're in business. We're doing this because we like doing it and we wanted to create a family environment within our team. I think we’ve done that. We feel like we have that nice work life balance strength
I think those have contributed to our success in the last three years.
What’s the Biggest Trend in the last 10 years of Marketing?
A huge trend over the last ten years is marketing automation platforms. Being able to measure what you do, and if you're failing, fail fast. This means you get a lot more turns in your marketing program and your campaigns.
What are Your Best Business Tips?
Business Tip #1- Measure What You Do
If you can't measure it, don't do it. There's a part of marketing that is essential to know - if you're being successful or you're not. We [The Market Element] are big proponents in digital marketing of being able to measure what you do. So in order to do that you have to have a platform. When we started this business, we identified some platforms that we feel very comfortable with. One of them is HubSpot. We became a Certified Gold Partner. This system, along with other marketing automation platforms, allows you to execute on your marketing strategy and allows you to measure what you're doing.
Business Tip #2 – Invest in Visual Marketing
Another business tip that I would recommend is investing in the art part of marketing. This really drives the emotion and passion in marketing. We put a lot of value into creating things that engage people and make them really interested and make them want to act. That sets you apart as a business and a brand.
Business Tips #3 & #4- Pick the Right Team and Value Culture
The Market Element represents my fourth startup. When I look back at the successful startups my recommendation is to surround yourself with people that are smarter than you. You can't be experts in everything, so you want to pick your teammates smartly and intelligently, and I think that's what we did at The Market Element.
Also you should value culture and not have money be your primary driver, it should be making the best product that you can possible.
I figure if you have those kind of values in place, success will follow, and it has.
What has been your experience with Office Evolution?
Office Evolution has played a big role in the success of this business.
Three years ago I started The Market Element out of my home office - just me and two clients. I quickly on boarded a business partner and two other employees. We needed to expand, we needed a place where we could take clients. It's not gonna be my home office. I looked around the Boulder/Denver area and I had the opportunity to visit Office Evolution. I liked the location, the amenities were terrific, and also the overall community within which I would be working was exciting to me. That's actually been a great value to me as I've grown the business I've got to know the people I work near and I think that's just been a great fit for The Market Element.
Also, as a business, we are at Office Evolution in our Louisville location, but in our Katy, TX location where my business partner has a business suite, he is actually quite jealous of everything we have here that he doesn't have in Katy, TX. So, it's been a really good experience to see what we have here and he wishes he had an Office Evolution in Katy, TX.
For more information about Chuck Miller and The Market Element, visit their website at https://www.themarketelement.com/.
To rent an office space in Louisville, CO, visit our website at https://www.officeevolution.com/locations/louisville/office-space or call 720-408-6225.