Friday 5: top 5 ways to spark new marketing ideas

Welcome to this week’s Friday 5! Here’s a list of the top 5 ways to spark new marketing ideas, via Matt J. McDonald. Check out this question:

Is it better to be the first or be the best?

We hear a lot about "first mover advantage". That’s the idea that the first business to enter a market can gain control of resources, such as locations, trademarks, patents, reputation, profits, employees and so on. But is it impossible to enter a market when you’re not the first entrant? Of course not.

When I started my marketing consulting business, there were already many marketing consultants in Vancouver. Almost all of them had more experience, more education and more established reputations. But I recognized that I could offer:

  • specialized skills — my knowledge of the high tech sector
  • low overhead — I could turn a bigger profit than established marketing agencies because I ran my business from home
  • quick turnarounds — I was new to the market, so I could take on "rush jobs" or flip projects overnight
  • services for small businesses — whereas other consultants were targeting big companies, such as telecommunications firms and banks, I focused on startups and small businesses

Today, I’m a well established player in the Vancouver marketing consultant scene and beyond. If you think you can’t get into consulting because it’s all been done, don’t be so sure.


Comments are closed.