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If
you're forever hearing great things said
about your work,
yet not seeing these translate into sales
and revenue, it could just be because
you've fallen into the innovator
trap.
The
innovator trap is where we can end up
if we confuse educating
with marketing.
Going out and telling the world about
something completely new and revolutionary
certainly stands a good chance of generating
interest, but not necessarily any sales.
Certainly
innovation
can work as a marketing tool, but generally
only with an audience who already know
and trust you. I'm not suggesting that
we only market
in the mainstream with existing contacts,
but we need to be aware of what works
and what doesn't and if necessary make
some changes.
Often
the changes involve little more than a
slight dilution of our proposition - evolution
can sell
easier than revolution, at the outset.
Once effective marketing gives us a foot
in the door, we can guide our prospects
and customers
toward a brave new world.
Let's
look at an example. In fact it's a real
one from a conversation I had a while
ago:
David
had developed a product
that revolutionises the way corporations
store and access electronic information.
In other countries similar systems were
slowly being embraced and put to extremely
good use. In his home market, however,
things were trailing a little behind.
David
was being invited to talk at numerous
conferences and expositions, there was
much interest. The joint was jumping.
Well, it undoubtedly felt like that for
a while, but when I caught up with him
it was getting a bit tiring.
Sure
there was a lot of interest, but not enough
sales.
David was educating and doing a great
job of it. His family
meanwhile were getting fed up with beans
on toast.
So
what would you do? Keep bashing away?
Go into greater debt maybe? Put the house
on the line?
After
speaking for a while, we came up with
this solution
for David:
1.
Look much more closely at what's been
learned
Take time to do some research - had he
been educating or marketing?
Ask the tough questions
and be ready for straight answers.
Talk to some of the people who invented
the wheel in those other more advanced
markets - What lessons had he perhaps
missed?
2.
Get clear on the options
How long could/should he give to your
current path?
If he made a shift, what would or could
that be?
Are there any real signs that the market
is changing?
3.
Think more like a marketeer and less like
an innovator
If David looked at his revolutionary product
as top-of-the-range, what's a possible
'entry level' product? Something to get
a foot in the door.
How could he modify his language to talk
in terms that satisfy a current need,
rather than focussing on a future 'maybe-want'?
As soloists its fine to use innovation
to get noticed, but its important
we have products or services that our
customers want to buy NOW. Little by little
we can up-sell and do more of what we
really want.
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