Most people are familiar with the laws of motion, but few have thought of it in the context of marketing….
Newton’s first law of motion states:
“An object at rest tends to stay at rest and an object in motion tends to stay in motion with the same speed and in the same direction unless acted upon by an unbalanced force.”
If someone came up to me on the street and asked me what business they should start today, I would tell them “one that already has a hungry market that is not being served.” To me the hungry market is an object already in motion.
Most business owners give little or no thought to the market for their product or service before jumping in. The typical business is started by someone who knows how to do something but has likely given little thought to whether or not there is significant enough anyone who wants or needs that something.
If you’ve already got a business you are trying to get in motion, then you must find a way to package what you do so that it attracts a hungry market. Trying to create and communicate things that people should need, or worse, don’t need or want, is like getting the big rock at rest to start rolling. Far better to jump on the rock that is already in motion and find ways with your marketing tactics to get out in front of that rock.
Develop an already moving rock market focus and strategy, become a known expert on that rock, be consistent and repetitive – exert an unbalanced force on the already moving rock and get it to move faster.
That’s the Duct Tape Marketing First Law of Marketing Momentum.
“If you’ve already got a business you are trying to get in motion, then you must find a way to package what you do so that it attracts a hungry market.”
You might try going after a market you can own rather than that whole market. Being part of the considered set will make people more receptive to your efforts.
I understand that to be true for b2b, is b2c different? Or could you get away without being in the considered set and just have shiny packaging? =)
A good way to look at this issue. I completely agree that the best marketing opportunities come in situations where there is a market essentially already established, but completely underserved. The comparison to Newton first law is a good one.
I hear far too often from collegues that they’ve created the next great widget only for them to find there is no market for it. Very few (but also a successful few) find a market and then invent a product to serve that market. If you can find a cohesive market that you can penetrate quickly, create strong word of mouth advertising, and who is open for a solution, do whatever you can to invent something for them. You’ll be far better served opposite creating a better mousetrap for a house with no mice.
If you’ve got mice traps already, then you need to rethink your plan. Consider what else those mousetraps might be used for and if they might apply to an underserved market. You’re Bayer…you’ve got aspirin (for the past 100 years). Now what? Talk to a new market with a new application. Simple: take a lower dose of our product, EVERYDAY, to prevent a heart attack. Talk about an underserved market hungry for a better idea. No one wanted aspirin for pain, but there was a market out there. It’s only a matter of finding the market and explaining why your product fits.
JMR