I find it fascinating that markets can be so dynamic. In some markets, your customer base can change from month to month. Just making sure customers are aware of your existence at that point of entry can make all the difference in success or failure.
Kaufman really threw me a curve ball in this section. I assumed this topic would be pretty straightforward. You want to craft marketing copy or narratives that elicit desire from your potential customers. Turns out, trying to create a desire for your product or service is a huge waste of time.
This has been one of my favorite insights from Personal MBA so far because I can honestly say that this has never occurred to me. Kaufman states, “Marketing is most effective when it focuses on the desired End Result, which is usually a distinctive experience or emotion related to a Core Human Drive.”
Grabbing a potential customer’s attention is vital to the success of any business venture. But, as Kaufman states, “Rule #1 of marketing is that your potential customer’s available attention is limited.” We all know this to be true, and in our minds, we constantly filter out all of the incoming information that doesn’t interest us.
We naturally make assumptions about everything every day during the course of our lives. Those assumptions, often times, are of little consequence, but when they are the basis of major business decisions, they reach the status of critical. Kaufman defines critical assumptions as, “facts or characteristics that must be true in the real world for your business or offering to be successful.”
I love a good definition. It’s so important to define terms when your thinking about a topic, and this definition of a business, I think, is really helpful. I imagine it acts as a sort of sure foundation to build upon and make better decisions in the course of owning a business or even through the course of fulfilling your responsibilities as an employee. You can think through different challenges or decisions and ask yourself, “Is this decision or obstacle causing me to stray away from any of these key aspects?”