Marketing basics we sometimes miss
Marketing basics we sometimes miss
Good to think about
1. 95% of new products fail because there is no gap in the market for them (Harvard Business School). So advertise only what naturally attracts customers after you have tested the real demand for it.
2. To sell a solution means first to sell the problem. Like Apple did with personal computing, simplifying technology for the masses. Ensure the problem is well-defined and sold first.
3. Marketing’s challenge is to overcome the "Why do I need this product?" barrier. Make sure your marketing strategy clearly answers this question.
4. Avoid making double offers (problem-solution) in a single pitch. Campaigns that focus on a single offer tend to have higher conversion rates.
5. Focus on conversion rates, not broad outreach. Every target audience has its limits.
6. The marketing starts to work when it works every day. Like Coca-Cola’s consistent message, which keeps it at the forefront of people’s mind globally.
7. Holding on to customers is five times cheaper than acquiring new ones. Remember, low retention as well as high customer churn is a sure way to failure.
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