Your company is the newcomer. You’re the young upstart that has innovated and is generating significant buzz. How can you expect the leader in your business category to react?
The reality is that most of us fear that we aren’t turning our marketing dollars into profit. Not consistently. Not directly. Which is why we have advertising budgets. To limit risk.
Warren Buffet and Charlie Munger made money by using a strategy that passed the test of time. At 97 years old, Munger attributes two things to his success: patience and inversion.
For every IBM, there are 100 Blockbusters. For every General Motors, there are 100 Polaroids. You can bet the leaders in your category will one day be in trouble. You can catch and pass them.
The chase for instant gratification in marketing often looks like “sales events.” Knowing when to use a sale and when to use other methods to get customers in the door makes all the difference.