— Summary —
In this session, we talk about the second stage of the Think Up phase which happens to be one of the three phases of business life. The stage is Ideation and today we deal with creating ideas that resonate with the marketplace. We also learn a way to evaluate an idea with the help of a series of questions or checklist.
For entrepreneurs, the challenge is not to generate ideas but it is related to having too many ideas. We need to understand, test and evaluate those ideas so that they resonate with the audience and the marketplace.
When we talk about evaluation, we need to deal with the following elements:
This session is a bit different. I want to share with you a tale of irresponsible marketing that I experienced recently. The goal is to understand what marketing should be really about, how we can set it for success and the ways to create connection with customers and your team.
The Tale of Irresponsible Marketing
I worked with a service provider that helped me to reach and connect with my customers. Within a week, the CEO makes a blog post which starts out as “Death of the business name”. It reflects on how the company’s creator looks back at his four year old business and realizes that he secretly despised it. This story spans to three posts over a week and it keeps the clients in suspense about the future of the company.
The idea behind it was to create suspense, generate attention and then share their re-structuring plans. The post generated a lot of attention in a negative way. The way it was presented, abused the pristine client-provider relationship. He should have started with the re-structuring idea instead of polarizing the customer-base.
Lessons that came out of this irresponsible marketing effort
First we need to understand the objectives of marketing.
– It’s to create relationships that will convert into sales.