The Secret to Solving Your Marketing Problems has Nothing To Do With Marketing
You’ve tried everything—from blogging to cold emailing—but none of that is working
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You’ve tried running paid ads, blogging, cold emailing potential customers, but nothing is working. You keep hoping you're going to find that one thing that’s going to solve all of your customer acquisition issues, but even after hiring a marketing firm you're still getting lackluster results.
Whether you’re a small business, start-up, or even enterprise company launching a new product, the secret to solving all your marketing problems may have nothing to do with your marketing tactics.
If your cost-per-lead and/or cost-per-sale is still high or if your initial customers are not talking about your product or sharing it among their friends, then the problem may be with your product.
Great Marketers Market Great Products
If you look at Elon Musk, his company Tesla spends almost no money on marketing and advertising. Instead, Tesla invests in creating incredible products.
When your product is superior than that of your competitors, you do not need to pay for marketing. Your customers will promote it for you.
Incredible Products Drive Word of Mouth
Think about your favorite restaurant or coffee shop.
To you there's something about that place and its products that you really love. Maybe it's that special drink, the atmosphere, or maybe it's a combination of many different things that make it attractive to you.
When we identify with products and find great pleasure or value in them, we usually want to share them with others. In the best-case scenario, the greatest growth hack for any company is building a product so good that it drives word-of-mouth.
Word-of-mouth amplifies all of your marketing efforts because your customers become your strongest advocates. It's always more powerful for someone else to say something good about you than for you to say something good about yourself. The same holds true for brands.
The Foundation of Growth Marketing is Product
Robert Stephens, founder of Geek Squad, said, “Marketing is the price you pay for being unremarkable.” Ryan Holiday, Noah Kagan, Neil Patel, and others have all echoed this message. My favorite tweet of all time is one Noah Kagan wrote in 2017, “The secret to marketing is.... Build a great product.”
Content creation allows you to share your expertise and your product’s advantages. HubSpot found that blogging consistently helps B2B businesses generate lower cost leads than other channels. The reason blogging and content creation work well for driving leads is because they help showcase the unique strengths of your product more effectively than other forms of marketing can.
Case studies are also effective in generating leads. When case studies reveal how the product or service drives success with real data, potential customers can be convinced of its value.
Bottom line is the higher the quality of your product or service, the less you have to pay for marketing. If you’re finding it hard to acquire new customers and if your current or past customers are not talking about your product or service, then you should begin asking questions about your product and how you can improve it.
BY Entrepreneurs Organization