Last week, I had a call with my marketing mastermind group. They are all sharp marketers. However, there was a big contrast in how two members were figuring out how to reach new markets.
The first talked about his analysis of the market. He was looking at which particular niche would be the right one to pursue and how he could structure his offering to help him stand out from his competition. These are all good things to think about. Unfortunately, this was the third month in a row that he has talked about it with no action.
The other member has been pursuing a new market with his offering as well. While his initial attempt was imperfect, he learned a lot and has iterated on his marketing message and offering over the past four months. He is now making significant progress and has paying clients in the new niche he is pursuing.
While planning is important, nothing takes the place of action and testing. In the words of Steve Blank, an entrepreneur and professor at Stanford: “No Plan Survives First Contact With Customers.” This means that no matter how knowledgeable you are about a market, you need to test your idea. This is true for new products as well as new marketing initiatives.
So if you are considering a new marketing initiative, get out there and test it. Of course, expert guidance can help you test things that are more likely to work on the first try, but it is no guarantee. That is also a good reason to start small and prove your idea works before scaling it up.
If you would like any help planning for and testing a new marketing initiative, let's talk. I can usually help you take the shorter route to success.