“The Rule of Three” is an age-old principle that applies to everything from writing to economics-even to survival in the wilderness. For marketers living in a world governed by short attention spans and endless competition, the “Marketing Rule of Three” is no less true.
I. No Segmentation: Your Startup can’t do it all. Focus is critical!
Single Minded Benefit: For startups, breaking your market up into addressable market segments is important. Each advertisement must make a proposition to the consumer. Not just words, not just product puffery, not just show-window advertising. Each advertisement must say to each reader: Buy this product, and you will get this specific benefit
Usually the best single-minded benefit is just one sentence. It is concise and it is powerful.
It is always amazing to me that you could distill hundreds or thousands of inputs about a product—features, benefits, research, competitive insights—and translate that all into one simple statement. This statement becomes the foundation of your advertising program.
Well Defined Target Group: For your business to succeed, it must have enough customers to buy the product or service offered. Before you launch your marketing campaign take time to evaluate your potential customer base. Figure out whom you expect to be your most likely customers – in other words, your target customers. Then tailor your marketing efforts to those customers.
Geo Targeting: Geo-targeting saves your brand money as it results in efficient marketing.
II. First exhaust what is free: Spending money is easy!
15% of the users are early adopters, the best way to market your business to them is through effective content on your website and in different social media platforms and email marketing. Few free sales channels are Facebook, Twitter, LinkedIn, Google+ and Pinterest.
Don’t miss a free PR opportunity. Most of the successful startups came to limelight either through Word of Mouth or successful PR coverage.
III. Don’t forget the basics: Advertising is 80% message 20% media selection
Use media vehicle (digital, radio, print etc.) to carry your message and not be the message themselves. Media vehicles are just carriers and not the message. Give people good reason to try out your product. A good message can make up for inefficiencies in media selection. Unfortunately, it doesn’t work the other way. One of the most common questions of startups is “So many people know me but why are they not buying me”. They forget the basics; awareness is not equal to buying. A common man is aware of thousands of brands but not necessarily we buy all of them. Awareness leads to preference and that leads to trial. Messaging plays an important role in converting awareness to preference and then trial.