Category: marketing

The best bargain

FabrizioLeave a comment

Free stuff is not easy to give away online, and that’s true for second hand clothes as it is true for learning programs.

It’s probably because the buyer does not perceive any value. It’s easy enough to raise one’s hand and say “I am in”. But as soon as life gets in the way, something that is free is just not worth any hassle.

If you have something you need to get rid of, or an idea you are proud of and want to spread, that’s something to take into account.

For as counterintuitive as it might sound, free is not always the best bargain.

What they do need

FabrizioLeave a comment

Just adding to Seth Godin’s list.

I’d like my Android phone to know when it is a bank holiday in Finland, and ask me the day before whether I still want my weekdays alarm on.

I’d like any social media to use the timeline to display what I am actually interested in (i.e., the stuff I follow), rather than second guess my personal taste.

I’d like advertising platforms to ask me whether I am looking to buy a car, what type of car, what budget I have, instead of interrupting my daily flow with generic car ads, when I have already bought a car two months ago.

I’d like LinkedIn to understand I am not seeking for employment when Finnish is a requirement, and therefore stop matching my profile with job ads that are completely in Finnish.

I’d like the Google Assistant to answer my questions as an assistant would, rather than listing what they have found on the web (thanks, I can do a Google search on my own).

I’d like Outlook to still send me an email notification for updates to events I have already accepted, instead of sending them directly to the trash bin.

At some point, companies stop serving the needs of their customers and start pursuing revenue only. If we stop idolizing their success, if we free ourselves from the need to become the next billion dollars deal, we realize that there are infinite challenges that demand the attention of our organizations. And we can perhaps manage to take a tiny, little piece of a market.

Here is to the many definitions of success.

The price you want

FabrizioLeave a comment

You have a good product, some customers, and then you start losing opportunities because they say you are too expensive.

Two options.

You cut the prices (discounts, special offers, etc. fall into this same category). It’s a risky game, of course everybody else can follow you there.

You work on perceived value. And you can go about it like this.

  1. Express value – Many times features are disguised as value, often mere functional value, so you need to start digging what the customer really wants.
  2. Reframe value – It might be that the problem you are solving is not worth the price you are asking, so you need to figure out if there is a deeper feeling, ambition, desire that you can leverage.
  3. Work on brand – Your story, your tone, your appeal can make your product desirable and unlock a fear of being left out.

Cutting prices is short-term (and short-viewed), working on perceived value takes resources and time.

The sooner you start working on 1, 2, and 3, in parallel, the better positioned you will be to ask the price you want.

In context

FabrizioLeave a comment

In it’s most popular form, Goodhart’s law states that when a measure becomes a target, it ceases to be a good measure.

You do not have a healthy company because your revenue increases year after year. Revenue is just one measure of the health of a company, and it should be put in context.

You do not have a great place to work because your engagement score says so. Engagement score is just one measure of how your employees feel, and it should be put in context.

You do not have a terrific team because they meet their targets quarter after quarter. Numbers are just one measure of how well your team is doing, and they should be put in context.

You do not have a successful campaign because you are getting clicks. Clicks are just one measure of the success of a campaign, and they should be put in context.

The point is, measures are easy to game, and the more you put them at the center of every conversation, the more people will be inclined to game them.

It takes time and effort to take the whole picture into consideration. It takes awareness, it takes courage, it takes honesty. It is the only way you can truly assess how you are doing and make adjustments, so that you don’t wake up one day in a place where you had never wanted to go.

What works

FabrizioLeave a comment

Things that work in marketing:

  • Building your brand
  • Creating content that resonates with you audience
  • Being featured in publications your audience trusts (not because you paid them)
  • Being found when people experience the pain you are addressing

Things that do not work in marketing:The greatest illusion

This one is from Rand Fishkin, worth remembering after the summer.