Although there is (as far as I can gather) no real evidence to support him having made this statement, the meaning behind it remains totally valid.
And who doesn't love a good fake quote anyway?
It looks a bit like this:
"My wealth has come from a combination of living in America, some lucky genes, and compound interest." – Warren Buffett
2. Understand how your product/service solves said problems, answers said questions, and relives said pain.
3. Educate your target customers on potential ways to solve their problems - answer their questions for them. Get this educational content in front of them on the channels they like to use (e.g. social media, web content, emails).
4. Build trust with them so that when they are ready to buy, they come to you directly. Even if you do outreach to them and do some “old-fashioned” selling, they can see your commitment to solving their problems and they will be more receptive.
However, over time your marketing efforts should compound, resulting in accelerating gains in terms of brand visibility, web traffic, enquires and sales. This is just the same as with compound interest. In the early days, the compounding effect of your savings/investment is small - but it scales up over time!
Here's an example from one of my websites:
One other thing to note is that paid marketing doesn’t always have an immediate, direct response.
The businesses I have and continue to work with that are successful with this approach all have one thing in common - they understand that commitment and diligence is required to see results with marketing.
This is just as a good investor understands that a long-term mindset is essential to success through compound interest.