- by Rory Ramsden
Have you ever wondered how some companies manage to go from strength to strength no matter whether the economy is tanking or not?
It may come as a surprise to you that it’s not got that much to do with the quality of management or the relentless bearing down on costs or even the strength of the company brand.
These are certainly important, I’m not denying that, but what really makes the difference is the inspiring ideas that you are able to apply to your business and more especially to your marketing. In this case, your big idea could be to do a product launch rather than a traditional release.
The last thing you want to do in these straightened times is to cut your marketing budget. Yet you have to maximize your ROI and watch every cent.
Coming up with fresh and original ideas may require some lateral thinking so here are four possible sources
1. Copy marketing ideas being used by big brands
Find out what the big brands are doing and re-purpose their ideas to suit your business. Apple inc. is famous for the power of its marketing. Their product launch strategy is based on coming up with original ideas and launching them on a market that is hungry to buy. You can too. It’s not rocket science.
Brainstorm tactics with your team focusing on topical events or themes and put your product launch in that context with a ‘fire sale’. This allows you to ride the wave of a trending news topic. One such might be the tax season. We are all scrambling to put the money together to pay the ‘man’. Use this fact as an excuse to do a quick product launch with built in scarcity.
3. The Oprah Effect
Popular TV shows like ‘Oprah’ are always airing new ideas. If you’re fast on your feet, you can take advantage of this to engage your target market, building customer loyalty in the process. This product launch would be a variation on the ‘fire sale’
4. Publication of Research
Research Institutes publish new and authoritative papers regularly. Take advantage of any in your industry by creating a special report in plain English that tells your customers what these findings mean to them. Don’t forget to explain how your product or service can be used in a way that is relevant and may not have been considered by your customers before
The quality of your ideas and their originality position you as a thought leader in your market. A product launch positions you as a trusted adviser in the minds of your audience. Being seen in this light allows you to command a higher price point than your competitors.
That just leaves one challenge
You’re probably wondering, what with everything else you have on your plate, how can you be expected to take time out to come up with these fresh and original ideas.
Upon reflection, you may then decide that the fastest way to inject this much need and probably overdue inspiration into your business is to get hold of an expert.
Got a suggestion? Leave a comment below…