We usually have an intuitive grasp of subjects we haven’t formally studied. Marketing is a prime example of this. Unfortunately, we lose our intuitive understanding as we begin learning. Consequently, our lessened intuition means we easily lose ourselves in the details and make poor strategic decisions.
A reasonably intuitive belief might be that “your product should be exciting”. Yet, you slowly replace these beliefs as you study marketing.
For example, you may replace the belief “your product should be exciting” by the belief: “my target market should need or want my product”.
However, you should not underestimate the distinction between the definitions: want and excited.
Someone may be excited by a Ferrari but not necessarily want one. Similarly, someone may want a tougher screen protector for their phone but may not be excited by the prospect.
The statement: “wants a product” is rather vague. Does wanting a product mean people will actually buy it? Maybe, but will they become advocates? Who knows…
In contrast the statement: “is excited about a product” is more revealing.
Myself and countless companies have fallen into this trap on occasion. We spend most of our time working on the low level, intricate details and forget the few important things they have to get right first. After all, without getting the basics right, the details don’t matter.
This leads us to my number 1 rule: build an exciting product.
Without an exciting product marketing becomes frustrating and meticulous.
The best part is an exciting product attracts PR, free advertisement and word-of-mouth. Some may say then: an exciting product sells itself.
When you next conduct market research don’t ask whether they want your product, ask them whether they get excited by it.