Marketing Mission
- Profits thru "Perceptions"
In the eye of your prospect, the "perception" is the product -
it is the collection of thoughts, in the mind of a buyer, that
lead to a buy decision. Knowing this, successful tech
companies often put more effort into designing & building
perceptions, than into designing the technology.
Designing perceptions is what strategic marketing, audience
choices, and message choices are all about. But if we have
designed a wonderful product with an equally wonderful value
proposition, why does the magic of this excellent "reality"
not sell the product? Why does it take so long for customers
to "get it"? What goes on in the mind of a buyer?
"The answer lies partly in physiology," says Roy Williams,
in his book Secret
Formulas of the Wizard of Ads. He goes on to say "We
see, hear, feel, taste, and smell our environment with 100
million sensory receptors, but, because of our 10,000 billion
synapses, with which we think and ponder and imagine - we are
approximately 100,000 times more capable of experience in the
invisible world of the mind than in the physical world that
surrounds us."
So the challenge is to capture the imagination of a prospect,
knowing that thousands of ideas compete for their attention.
To retain sanity, most of these ideas must be shut down. Few
ideas and visions can be converted into action, so the action
list must be short, and prioritized.
Tip #1 - Get
immersed in customer thinking - My experience is
that gaining "top-of-mind" is what we must do - and it can
only be done by fully exploring buyer needs and current
commitments. Complicating matters, this must be done at both a
personal and a corporate level. Moreover, if a corporate
decision involves multiple buyers, there is a need to talk
with each one privately as well as in groups - then come up
with a scenario that captures the imaginations of all of them.
For founders and Presidents/CEOs of young companies, there is
a challenge of resource allocation. What percent of your
resource should be applied to "designing perceptions"? Many
young companies go through a long phase of "product
development" prior to beginning their "marketing & sales"
efforts, and this is justified by a lack of resources. This
approach is a good way to get firmly into failure mode. At a
recent VC Fair in Ottawa, David Furneaux of Kodiak
Venture Partners commented, "We prefer companies that have
been very active with their target clients. To invest, we like
to see that they have made hundreds of customer calls." This
supports my own belief that successful start-ups grow in the
laps of their customers.
This reflects a harsh reality - there are long lead times in
developing market interest. Early contact with buyers will
have almost no success in generating revenues, or even getting
progress on today's topic, "designing perceptions." You have
to work through several stages; the first is to "explore
perceptions" of potential buyers. These initial reactions will
place you on a steep learning curve - how do customers think
in this market niche? What typical needs do they have - that
they would act on if they learned of a solution? What would
create urgency? What is the difference between what they say
and what they do? How do they currently spend money? Who makes
these decisions?
At the same time, you will need to explore the marketplace
readiness to accept your new offer. Is there another solution
already in the market? Is this competitive solution embedded
within a "value chain" of suppliers and sales channels? Will
this value chain accept you as a new entrant, or will you need
to create a new value chain?
Gathering all this info will give you an idea of the profile
of an ideal target - in terms of the position, power, and
personality of the human beings you want to sell to. Now you
are ready to "design" the perceptions you wish that person to
have of your offer, your company. The result is usually one
page of ideas, expressed in words that are carefully chosen to
intrigue your target buyers, and relevant to pre-existing
ideas in their busy minds.
Tip #2 -
Communicate - After the design stage, you need to
communicate to the marketplace. Phase one is "marketing." It
starts with getting your ideas tested and implanted with the
thought leaders - people who already have access to the
buyer's psyche. It includes communication in publications and
at events where buyers gather. It continues with preparation
of direct marketing material aimed at the target buyers.
Phase two is "sales." The sales process must be broken down
into sub-phases, to ensure customer imagination is engaged
before scarce resources are consumed. Next, help each customer
develop his or her own vision of a solution. Only then are you
ready to talk about your product & how it fulfills their
vision.
Phase one is usually best done by the CEO, CTO and your
marketing people - phase two by full time professional sales
people. In either case, they must feed back ideas to confirm
or correct the buyer profile and behavior assumptions. The
time lag required to do all this is often longer than the time
required to design the product, so get started early.
Tip #3 - Balance
resource allocations - Resource allocations are a
tough management decision. Designing perceptions may be 30% to
50% of a young company's total resource pool. The work
includes exploring pre-existing perceptions of needs, concept
development, market testing, and implementing a full effort on
"designing perceptions." So who does this work? In larger
companies it is done by marketing people and product managers.
In smaller companies it still has to be done, usually by the
President, product designers, and sales people. People will be
wearing multiple hats, so time must be allocated; otherwise
this work will fall behind.
And continue profiling customer feelings, values, and visions.
After all, we sell to human beings - all of whom have a unique
way of thinking about, and perceiving, the world outside. As a
14-year old fan said about the recent Harry Potter film, "it
can't compete with a child's imagination." Your prospects are
blessed with a vivid imagination too - engage it to help
design & validate the market perceptions you need. It is a
critical part of winning the competition for customer
attention and gaining top-of-mind urgency to turn ideas into
action. |