OLD PRINCIPLES, NEW WAYS OF THINKING
In business, we are often taught to think outside the box, walk to the beat of a different drum and stand out so that you may get noticed amongst the many, many competitors.
We’re told people become so tired of seeing the same old thing, that we should deliver something different. However, very often in trying to do so, we stray very far from our original intention, which should always be to sell our service or product. And, every now and then a company comes along and succeeds at ‘standing out’ by using old principles in new ways of thinking.
To describe what I mean of ‘new ways of thinking’ I will use the example of Uber, who used tried and tested tactics, such as great customer service, offering convenience, and solving a problem to build success.
They provided consumers with the ability to control a ride sharing experience. Filling a gap in the market and ultimately solving a huge problem because, riders were disappointed that:
- There were not enough rides
- Rides were not clean and comfortable
- Existing consumers did not know where an ordered ride was
- There was no transparency of fair costs
- Customer service was lacking
New ways of thinking
In marketing their business, they used especially effective ‘disruption’ tactics. Advertising campaigns that either challenged the conventional thinking in an existing market or spoke to a completely new one.
For example, when launching into a new country, they entered the market using tactics to appeal to their new audience. Such as: delivering kittens or ice-cream to offices to generate positive buzz, and give Uber a more fun and personable image.
Much like Uber another company to shake up the market was Airbnb. This time the industry was hospitality. Consumers were tired of the expensive rates and limited choices,
In both examples, the business model solved a problem for users and created new jobs and opportunities to make money. Last year Airbnb made social media history when it released the world’s first crowdsourced Vine, directed via Twitter, which generated nearly 350,000 YouTube Views.
Both businesses had no actual assets but used a business model that was based on effective systems that disrupted the usual way of doing things, and solved a problem.
New ways of talking
It’s important to note that the consumer today is a lot more informed. They can execute their own research online. They can read reviews. Their conversation can happen online and their views can be spread worldwide. The consumer has the ability to influence.
What does this mean for you? It means that today, much like in earlier days it’s your job to create loyal buyers. You might say, ‘but no one is loyal these days!’ (insert all the Nokia customers) but the opposite is in fact true. Think of all the dedicated emotionally invested Apple customers.
Today brand relationships are stronger than ever and nurturing those relationships are extremely important. As a company, you will need to know where your potential audience is, and how best to communicate with them.
Read How to Build Business Success for 5 great business growth tips from 9East Managing Director, Amjad Khanche.