For the last several decades, big brands have dictated a certain process from consumers:
Why? Because I am famous. Because I run big clever ads. Because I have money to waste. Because there is no one else.
Preferably quickly and before you have a chance to tell if my product is really the quality you expect.
Or something close to it. Thanks a lot, please come again. [Read more…]
What is the most important asset a business can have? If an intelligent entrepreneur could ask for just one guarantee for a successful venture, what would it be?
A great product? Brilliant staff? A bullet-proof business plan? Great financial backing?
None of those will guarantee business success, but one thing will.
A critical mass of customers that trust you. [Read more…]
Content marketing might seem like an uncharted risk for you.
How will I know if it works? What are the costs? What if it fails?
It’s good to calculate risks. You don’t want to jump into something you are not ready for.
But are you also considering the risks of your current course of marketing? Which one of these best describes you? [Read more…]
Like many entrepreneurs, André and Édouard Michelin had a problem – they had an amazing product that most people didn’t know about.
For five years, they had been producing pneumatic tires for a luxury item called an automobile. They were seeing success, but with only 3,000 cars in all of France, they needed a bigger market.
How do you grow a market? Run newspaper ads for tires?
No, they started publishing guidebooks.
Attention is far more valuable than money these days. That’s why a start-up with 400 million users and no revenue can get acquired for billions of dollars. If you have someone’s attention, you have power. The sooner you realize you are in the game of competing for attention, the better.
However, not all attention should be valued the same way. Here is a list of the types of attention, from the least valuable to the most: [Read more…]
Have you been in a situation like this before?
Carrie sells corporate clothing – branded t-shirts, jackets, and oxfords. She has spent a long time building up a reputation among her clients as a great supplier who always delivers.
One day, the buyer at Carrie’s best client was replaced without her knowledge. She got an email from the new buyer, Nick. He said that he has compared Carrie’s pricing with a competitor, and has decided to stop ordering from Carrie due to her high prices. Carrie knows that this competitor is using sub-standard quality materials, and that their products often fall apart after a few weeks.
Carrie calls up Nick immediately and asks for a meeting. He says he is busy with all the work, but has ten minutes to speak on the phone. She appeals to her longstanding good relationship with the company. He doesn’t budge. Then she tries to tell him how her products are of much higher quality. “A t-shirt is a t-shirt, right? I’m not looking for something fancy.” he says. [Read more…]