Frequency vs Depth

In advertising parlance we talk about depth and frequency. Depth being how many people we reach on each occasion. Frequency being how often we reach them.

It’s great to let zillions of people know about our start up as quickly as we can. We may even be lucky enough to get some kind of viral campaign working for our startup, we may be featured in the newspaper, on techcrunch or we might even be lucky enough get a TV spot.

After the event here’s what happens: People cook dinner, pick up the kids from school, pay the bills, kick the dog and get on with life. They have a life to live and they get on with it. Our start up doesn’t really matter to them… straight away.

Consumer awareness goes something like this:

Exposure 1: “That’s a cool idea / product / concept”

Exposure 2: “Oh, yeh, I must remember to check that out”

Exposure 3: “There it is again, might be worth having a look”

Exposure 4: “hmm, Ok – I’ll look when I’m shopping next / on line next”

Exposure 5: ….They finally act, and go look at, investigate, touch, feel, try….”

After many exposures we have “a chance’ of selling to them.

Sure some people check it out first time, some buy straight away, but the large majority need reminded, over and over again. It doesn’t mean – go out and spam them or do terrible interruption marketing. It means this; “have frequent and relevant marketing communications to the people who might care”.

It’s a lot like never noticing a car advertisement until we are in the market to buy one. They’re always there, we just have selective perception.

This is why Advertising frequency is king. No point having a big launch campaign if our prospective new customers aren’t looking on that occasion. For entrepreneurs, the big launch concept is a hoax – It’s unsustainable.  Like an exercise regime- it’s far better to do an hour workout everyday, than to do a 5 hour gym session on a Saturday.

The good news is we don’t need the superbowl budget of a large conglomerate to have the frequency we need. We just need to start a conversation which continues indefinitely.

Critical thinking

Many entrepreneurs start their careers working for big business.  There are many things we can learn from big business. One of which is Critical Thinking – the ability to analyse a set of circumstances and make a commercial decision.

Every startup has gaps. Gaps in strategy, gaps in the launch campaign and gaps in financing the venture.

Gaps that would usually be criticized in large conglomerate X during the mandatory ‘Critical Thinking’ session. If we want to get our startup off the ground , then we simply must ‘unlearn’ some of the things which we have leanred and adopted from our life in the large corporate sector. Critical Thinking is one of them.

What we need is Complimentary Thinking.

Pointing out the good and building on the parts that will work. Is what entrpreneurship is about. To criticise anything in the embryonic stage is counter productive. Critical thinking aims at protecting revenue – not inventing it. Critical thinking leads to finding a reason not to do something. Complimentary thinking builds on what we have, it finds a way to make things happen and accept imperfection.

Our ability to unlearn ‘critical thinking’ is really one of the important differences between being an employee and becoming an entrepreneur.

Small Companies vs Big Companies

If I could give one piece of advice for anyone who has reently escaped their cubicle of the large corporate scene to start up it would be this:

Do the opposite of whatever large companies do.

…and be quicker than they are.

if your startup is in the same industry you worked in…

Do the opposite of what you ‘were told to do’ within your large company.

To beat them you must focus on momentum. We most not do what they do, we must not compete on their level.

To gain momentum, we simply cannot behave the way they do.

AFL Legend – John Kennedy ‘Do something’

This advice matters to everyone: Favour action over all things.

For the uninitiated: This speach was given by a famous football coach in Australia during an AFL Grand Final (think Superbowl / FA Cup). With passion he emplored his campaigners to just get out there and do whatever they could. The end result being a victory – or the ability to say ‘at least I had a go…’

[youtube=http://www.youtube.com/watch?v=9db1GgNtCKw]

Formula for winning

Do, mistake, learn, improve, repeat.

Do, mistake, learn, improve, repeat…

Do it fast. Continue in perpetuity.

The key word is the first one – ‘Do‘. Unless we take action we remain largely philosophical about what might happen. It’s only when we act that we find out the truth and formula of startup success above can eventuate.


30 years in the making

It’s easy to get caught up in the hype of the anything Apple does. Including the opening of the new flagship store in Sydney, Australia.

 

 

Remember this: The brand loyalty, the innovation, the industrial design and the sexy products are all 30 years in the making.  

 

Uber success takes vocation & patience.