Lean Digital Marketing
So predicted ad executive Jon Bond in 2010, describing the shift in marketing budgets from “paid media” (advertising) to “earned media” (traditionally public relations, but now including content marketing, social media, and subscribed customers).
The myth of “don't fix it if it ain't broke” has let down thousands of businesses. If your product has an automatically expanding market, then you will not give much thought to how to expand it. If thinking is an intellectual response to a problem, then the absence of a problem leads to the absence of thinking, which leads to the failure of a great business model. At the end killing the company.
If you’re starting a business, chances are you can build a product. Almost every failed startup has a product. What failed startups don’t have is, enough customers. Many entrepreneurs who build great products simply don’t have a good distribution strategy. Even worse is when they insist that they don’t need one. In my last blogpost I had explained Entrepreneurship is all about three things;
- Can you make the product? — designer
- Can you sell the product? — marketer
- Can you manage the money? — bookkeeper
However, today we are not going to talk about importance of product or marketing or about bookkeeping. We already know it. This post details the Lean strategy of making a successful marketing plan. (Remember, there is nothing called one solution fits all)
Creating complex solutions has become so much easier that most of us miss the simple and lean solution in first place. Its not about the strategy and the process; it’s about exceeding the expectations of our customers in ways they couldn’t imagine. For a successful marketing we need to creating a shared customer value. Shared customer value is the intersection of your Business Goal and Goals of your customer. Remember again, we not trying to create different strategies for business, customer and marketing, but a cohesive common strategy which will gift us with greater Return on Investment (ROI).
So here are simple three steps to create the strategy: