chapter
11
How to attract more of ‘the right’
attention by marketing and
promoting your business
Sales support
As soon as you have secured your intellectual property and developed a
product to sell, whether this be the IP itself or manufactured goods and
services, you are going to need to start marketing your innovation against
the erce competition of your industry.
If the image of a massive marketing campaign that’s going to cost the
earth appears before your eyes – fear not. This has got nothing to do with
big marketing budgets. In fact, it’s got nothing to do with budgets at all.
Budgets, in my opinion, are there to restrict your capabilities. They set
rules and limitations beyond which you have no means to go. They seek
to set boundaries on uncharted terrain and they have no place in the
world of invention.
Return on investment
Rather than focusing on budgets, what we want to
talk about is the return on your investment. After
all, isn’t what we are doing building up something
to have greater value in the future? In bringing
an invention to market you have been making an
investment in your future. Now you want to start
making a return.
From now on, I would like you to consider and
measure everything you spend in relation to devel-
consider and
measure everything
you spend
developing your
brainwaves on the
basis of the return it
brings in
11311
n
How to attract more of the right attention
oping your brainwaves on the basis of the return it brings in the return
on your investment (ROI). Your marketing should be treated in exactly
this way.
If you were to spend £100 on your marketing and that £100 investment
made you £300 in return would you be prepared to invest more money?
I should think so. Imagine if, every time you went to a betting shop
and placed a £10 bet, you were guaranteed to get £30 back you’d be
down there every day. Worse than that, you’d soon be placing bets of
£100 even £1,000 or more. Who knows how much money you would
be prepared to spend? Perhaps millions? Denitely millions . . . if every
time you placed your bet you were guaranteed to get three times as much
in return.
This is what we want to achieve with your marketing. But, it all starts with
an initial £10 bet. You need to start out small, with small market tests.
You need to trial out different methods so that you can nd out what
works best for you and your business and you want to test and measure
everything that you do. Sounds complicated? I think you’re going to nd
this part fun!
As a rule of thumb, people tend to buy from you only after they have
had at least 7 points of contact with you or your business. Another rule
of thumb is that the average person only acknowledges 1 in 3 pieces of
advertising he or she sees. I’m sure you don’t nd these rules surprising,
but you need to be aware of them when you consider how to deliver your
message to your audience.
If people are only going to buy from you after they’ve crossed paths with
you 7 times and there is a strong likelihood that they are going to ignore 2
out of 3 attempts you make to grab their attention, then why not increase
your chances and try to attract them in 21 different ways?
But before we look at that, we need to clarify a little bit more marketing
terminology.
Identify your market
Let’s talk about people
Target market Marketing managers talk about target market in terms of
numbers and letters: ‘Oh yes, we’re targeting AB1s and ignoring the B2s

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