Episode 3Creating Something from Nothing

One of the most profitable, things you can do with marketing is to identify gaps in your market and fill it in ways that attract and keep customers. How about creating a haircare range for dogs? Or morphing from a science based biotechnology company to also selling haircare products, this time for people.

The Panel

Case study

Solopreneur Gayle Walker started her business UWDogs in 2014. The company provides professional haircare products for dogs. Last year, she decided to work full-time on her business.

Through a number of different strategies including retail, digital, collaborations and more, Gayle has managed to not only successfully start a business but also to make the switch to become a full-time entrepreneur. She created something from nothing.

Case Study Key Takeouts

  • With a new brand, give people a chance to try your product or service first. If you offer a great product or service, this will help convert them into customers.
  • Affiliations and collaborations with other brands and related industries can help you get the word out.
  • Ask as many questions as you can of the people who know.
  • When establishing collaborations for your new product or brand, give your potential partners a chance to try the product as well.
  • In addition to your offline channels, consider building up your online presence as well to further extend your reach.
  • Test and measure. You will make mistakes but learn from them and improve.

Marketing Panel

Peter Likoudis
Regional Vice President Marketing for American Express Global Commercial Services
American Express

Maria Halasz
CEO & Managing Director
Cellmid Limited

Kelvin Kirk
Managing Director ANZ

Panel Key Takeouts

How you can create something from nothing

  • When starting a new business, it is usually better to start something in an area that you are very passionate about. This will help you put in the hard work and effort required to make your venture successful.
  • Ask your customers and people who are considering your product to ensure your product and marketing hits the mark. Also ask people who are not considering buying your product to find out why. Finally, ask your competitors’ customers why they are not buying your product or service.
  • Recommendations are also important when choosing to buy a new product. Contact your customers and ask if they are happy with your product/service. If they are, ask them to write a review online.
  • Research from Pureprofile confirms that for men personal research plays a key role when buying a product they have never used before. For women sampling plays a more important role. Keep this in mind when drafting your marketing strategies and tactics.
  • Try new marketing channels and approaches. Ask your customers and learn quickly what works and adapt fast. Agility is a powerful asset that small businesses have on their side.
  • A recent survey by Pureprofile shows that 39% of respondents say (N = 1,005) sampling makes them buy a product they have never used before. Take this as an opportunity to introduce more people to your product or service.
  • Find out what people write about your product or service online via the app AGORA. Use the insights to enhance your offering and service.
  • Deciding whether to buy an established business or start something from scratch, is a decision between risk and return. Investing in an established business can be less risky since it has already a proven track record. On the other hand, creating something from nothing often requires less financial investment but usually is more risky.

Using hallmark days such as Valentine’s Day for your marketing

  • Be careful about using hallmark days such as Valentine’s Day that have nothing to do with your product. Consumers are generally looking for products relevant to the day and as such you might end up paying a premium for advertising on a hallmark day for a product that is not relevant for the day and won’t cut through the noise and sell.
  • Remember that Valentine’s Day is not relevant to all of your prospective customers. Pureprofile found that 52% of Australians are not as excited about Valentine’s Day and 25% live alone.
  • To romance your customers, follow up with your customers. Ask them whether they have received the product, used it and were happy.
  • Use hallmark days to further build relationships with your customers. Rather than selling to them, connect with them and say thank you.

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