New Need, Old Need

Continuing with our considerations around the Needs of the market, what sort of need are you catering too?

 

If it is an existing need that everyone is already aware of then it is highly likely that there are a lot of different options available to the market already. Staying ahead when the need is known relies on your ability to find a way to solve the problem uniquely, and to be invaluable to the customer. The education process then is about how you do it differently, and what is the benefit of doing it your way. Branding is very important in this space. As Seth Godin says: “People like us do things like this.”

 

But, if you have a solution that no one understands yet, or even recognises as a need, then you really do have your work cut out for you. Your marketing needs to focus on in-depth education regarding the need. It is likely that initially you will come up against extreme resistance. Even electricity, when first introduced to the public over a hundred years ago, had its detractors and conspiracy theorists. But you also need to be aware of sunk cost bias, because maybe no one else recognises the need except you, so when do you pull the plug?

 

Bear this in mind when planning your marketing budgets and priming your sales teams. If it is a new need, it is likely you will require serious resilience, as well as absolutely honest discernment. If the need exists, then brand cohesion and rigorous consistency in the way you do things as an organisation is vital to success.

 

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