1/28/2021 Tip: Do this Before Launching Anything New | Growthink

1/28/2021 Tip: Do this Before Launching Anything New

Today’s Qoute

Once we rid ourselves of traditional thinking we can get on with creating the future.
~ James Bertrand

 

Today’s Tip

The following scenario happens way too often. You and your team have a great idea. You spend months or years bringing the idea to market only to find out that no one is interested.

To succeed, switch your strategy. Do your market research first. Test your idea. Talk with potential customers. Find out if they like it and would buy it. If they won’t, move onto your next idea. If they will, proceed.

 

Today’s Resource

Want More Customers? (Do this now…)

If you want more customers, you need a better marketing plan.

A better marketing plan will focus your efforts on the activities that will actually work… so you generate more leads, customers and increase your sales and profits.

The problem is this — creating a marketing plan from scratch could take you 100+ hours — and you don’t have time for that!

And I’ve got good news today…

Using my proven marketing plan template, you can create an effective marketing plan in just 1 day!

The 1-Day Marketing Plan <— 

 

Trivia

Today’s Question: What was the only product ever promoted by Elvis Presley in a television commercial?

Previous Question: When commercial telephone service was introduced between New York and London in 1927, how much did it cost to make a three minute call?

Answer: $75.00.

It is common knowledge that when a new, unique product or service is introduced, the initial price is very high. As the product grows in popularity and can be produced less expensively (and competition enters the market), prices will go down.

Importantly, the high price will only attract a small portion of the market. This corresponds with Rogers’ “innovation adoption curve” which shows that new products/services are first purchased by Innovators, then Early Adopters, then the Early Majority, then the Late Majority and finally the Laggards.

Think about items like flat screen TVs, cell phones and ipads. Think about how pricing has gone down over time. Think about the first people you know that bought those items; and the last that did.

And recognize that the same will hold true if you develop a new cutting-edge product or service.

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