For all those who chose entrepreneurship, will vouch that setting up business is a culmination of a thousand things, all of which need equal attention. And every aspect of entrepreneurship is vast, requiring detailed attention.
Here are a few marketing lessons by those who have traversed the entrepreneurial path and have achieve magnanimous success.
1. Steve Jobs
One of the best examples of those with an entrepreneurial mindset, Steve Jobs is regarded as one of the best marketers the world had, even after a decade of him passing away.
Through Apple, he taught a great deal.
First- product over everything. Make a product that solves problem areas with the right features, design and specifications and make it like nothing can solve the problem like your product can.
Second- do not sell products, sell dreams. For Apple, consumers mean people who process emotions, have hopes and ambitions and Apple creates products to help them achieve their dreams and ambitions.
Third, create experiences to get consumers to value and buy your product. Also, a great product may not do well, if it isn’t communicated well.
2. Henry Ford
A pertinent marketing lesson from Henry Ford would be- Offer your customers solutions to problems they don’t know they have.
According to him, it wasn’t necessary to be everything to every customer. Be niche, be exclusive.
3. Warren Buffet
Based on his investment success rate, Warren Buffet is recognized as one of the fundamental investors in the world.
According to the Chairman & CEO of Berkshire Hathaway, an in-depth market study is indispensable. It is crucial to know dynamics of your target audience- likes, dislikes, preferences and an equal know-how about your competition will only make you stronger
4. Elon Musk
Elon Musk is a shining example of how modern-day marketing strategies can be effectively used. He makes exceptional use of social media to communicate with followers and also takes efforts to keep them engaged in powerful ways.
Another important facet of Elon Musk is his storytelling, and he is brilliant at it. For every brand he has created, there is a captivating story behind it. Be it Tesla’s vision – ‘to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles’ or Space X’s goal of making affordable spaceflight a reality.
5. Jeff Bezos
Jeff Bezos entrepreneurial journey teaches us that there is nothing more important than the customer and customer satisfaction. Observe them, obsess over them and make sure to offer solutions to make their journey easy.
This is one reason why Amazon is a name to reckon with when it comes to customer service.
Another important lesson one can learn from Bezos is that of encouraging word-of-mouth. When he started Amazon, he didn’t have a big marketing budget. But positive word-of-mouth skyrocketed Amazon’s popularity.
6. Walt Disney
Pioneer of the American animation industry, Walt Disney saw collaboration as a game changer. According to him Disney, wasn’t just about creative storytelling, but about creating powerful partnerships as well.
Disney also followed the concept of ‘plussing’, which means giving more to clients than they expect. For example, When Disneyland parades started, critics often questioned its relevance. However, according to Disney, giving people more than what they expect would keep them happily surprised, making them want to come back.
