The Science of Marketing
This article is written by Mohammad Eslim, a Contributor Author at Startup Turkey.
Ross Kingsland is the Founder & CEO at Inception Business Solutions. They are a group of strategic advisory consultancies. As a team, they offer people a plug-n-play solution- offering them instant access to a marketing team and services to fulfill several marketing roles. They focus on making young entrepreneurs save time, as well as costs through the services that they provide. Mr. Kingsland was a guest of ours during Startup Turkey 2016 and delivered a speech about Marketing.
We can always look up into our study books to find out what the word ‘Marketing’ means. However, it doesn’t stop at the dictionary definition of it, “Marketing is the action or business of promoting and selling products or services, including market research and advertising.”
As the world’s businesses evolve, develop and cover important aspects in our lives, the need to promote businesses has grew drastically. And so people moved from old school marketing methodology, calling for their products in the markets to flyers to radios to television screens then finally to the internet, and however many mediums are used as platforms for marketing, it turned into a science. Marketing, fortunately, has changed over the years and became more sophisticated.
Now we can analytically compare what works and what doesn’t. But even that is not enough as Steve blank says that it is essential to have a hypothesis you can test, go in, analyze to find out specifically what does work and what does not through systematic testing. Here we offer you five strategies to use, we encourage you to explore them and experiment with them in your company.
1.Start by finding your tipping point, find out who is a thousand people you can market to straightaway because you can’t really project any kind of growth on a small number of people. Define your market and seduce it specifically.
2.Be sure that advertising is NOT the only solutions as it might not be enough, there are many things that go wrong or go old like Yahoo! Rather be creative on how to get into market space or you can take a step forward and allow people or new potential customers to connect with you. It is alright if some method didn’t work for you can try another way and another and another. And remember not to force the product into your customers through apps and web sites but find a way to tap into their lives, you could use sweet comments as Hotmail did first!
3.Strategical relationships are wonderful if you want to go through marketing into a wide marketplace, it is much preferable than going to unknown people showing them your product when they are not interested because it takes lots of time and effort more than doing business with friends and making a marketing-friendly base.
4.Create a moment of magic with everything that you do whether it’s advertising or marketing or even the product itself. We need to keep in mind that we need to create these little moments of ‘WOW!’ even amidst the brilliance of technology and our sense of accomplishment. These days, the skepticism about the technology market is so high to the point we need to over-deliver and under-promise in order to lower the people’s barriers.
5.Viral referrals are very important as it can lead investors not to necessarily invest in you but they can invest in the audience, in the community you have access to. Harry’s is a great example of success through referrals!
Marketing is not easy as it sometimes depends on luck and wait for the right time to start the marketing process. It takes effort to go through it but it will be worth it once you do it right, so don’t be lazy, be creative and make that connection between you, your product and your customer.