7 Marketing Lessons that Million-Dollar Companies Have Learned

When it comes to marketing, million-dollar companies know a thing or two. They've been at it for years and have learned many lessons along the way. These lessons are so valuable that they can be applied to any company, whether small or large.


In this article, you'll learn seven of those lessons and how they apply to your business.


Million-dollar companies have learned a lot of lessons along the way.

You can learn a lot of lessons from the mistakes of others. You can also learn a lot by observing other companies, their processes and how they do things. When it comes to your own customers and employees, there is no better way to understand what they want or need than asking them directly.


The best business owners are constantly learning new things about themselves and the world around them. They're constantly evolving as people, which means that if you want to be successful in the long term then you must also be willing to change with the times!



The best way to market is to build a community around your product or service.

The best way to market is to build a community around your product or service.

That’s the secret sauce, and it’s not just for big companies like Apple and Coca-Cola. It works for any company that sells anything.


A community is more than just a group of people; it's people who share an interest, problem, passion or mission in common. When you make something people want by solving their problems in a unique way—and then you connect with those people through social media channels like Facebook and Twitter—you will build an audience who will spread the word about your great work for free!


When you're launching a new product, focus on the problem it solves and not the product itself.

You want to get people to buy your product, but there's a problem: you're not sure what that is. You know your idea is great, but how do you make all those other people understand?


Yeah, yeah—I know it can be hard sometimes to see things from the outside in. You may think that no one else will understand what makes your idea so great. But don't worry! There are ways around this issue when launching a new product or service.


The best way I’ve found is to focus on the problem (not the product). This means that when you're talking with potential customers about what they need, focus on their problems first and foremost. Only then should you offer up any solutions (or products) as possible answers to these problems!



Treat your marketing as a way to engage with your users, rather than a way to trick them into buying something.

People are hesitant to buy from you because they don’t trust you. They don’t know how well your product will work, or what it’s really like to use it. So how do you build a trusting relationship with them?


The key is authenticity. Show your users that you have nothing to hide, and let them see the good, bad and ugly sides of your company (and yourself). You can do this by sharing stories about what it's like inside the company- maybe there was an embarrassing mistake that happened recently or maybe someone made a joke about a co-worker being out of shape at the last team meeting.


Whatever it is, share it! The more real and authentic connections you make with people outside of just selling them something, the more likely they are going to buy from you when they find a problem worth solving using one of your products or services.


Your customers will tell you what they want if you listen carefully.

If you want to be a successful marketer, you need to listen carefully. You might think that your customers don't know what they want or how to tell you about it, but that's nothing more than an excuse for not listening.


If you've ever had an idea for a product or service, then as soon as someone says “no” your brain stops listening and starts thinking of the next way to get your idea out there. But what if that person was just trying to protect themselves from something they didn't understand?


If instead of letting their words shut down your idea immediately, you paused for a second and thought about how they might feel—maybe even talking through why they feel that way—you'd have learned something valuable: there's another way at making them happy with what they already have available today (e.g., cheaper prices).



Be authentic. Share the good, the bad and the ugly sides of your company with your customers.

This is a big one. If you've ever bought something from a company that was too polished to seem real, or felt like they were hiding something from you, it's probably because they were.


You know how it works: you're looking for a product or service, so you go online and find a company that offers what you need.


Then you follow their social media accounts and look at their website—and everything looks perfect! They have cool office spaces and smiling employees, they talk about how much they love their job on LinkedIn, they post cute photos of their dogs on Instagram…


But here's the thing: if there is anything negative happening behind closed doors at that company—any problems with their products or services—it will eventually come out in some way.


And if people see a Facebook post about how happy everyone is at work when they're actually having issues with paychecks not coming in? That's going to make them feel like maybe this isn't the best place for them after all.


The truth is that we all have ups and downs in our lives, so keep these points below in mind:

  • Be authentic. Share the good, the bad and the ugly sides of your company with your customers.

  • You can't hide from your mistakes. Share them and learn from them.

  • Be honest about your weaknesses, share your strengths, be transparent about what you're up to and why you are doing it (your personal journey), share goals and visions for the future, tell people what makes you tick (your values).

Experiment with new things in marketing and sales, but don't rely on them as your only approach.

The benefit of experimentation is that it allows you to learn from your mistakes and successes. It also gives you the opportunity to try new things, which will help you develop a better understanding of what works for your business, as well as what doesn't.


However, experimentation shouldn't be an excuse for not doing other things at all. You should always have at least one marketing strategy or tactic up your sleeve in case something goes wrong with one of your experiments.


Use email marketing wisely.

Email marketing can be a powerful tool for building relationships with your customers. It's important to be consistent with your email marketing, so that you're always keeping them up to date on new products or services and sending relevant content that they'll want to read.


However, it is also important not to misuse this tool by trying too hard at tricking people into buying something they don't need or aren't interested in.


Conclusion

The best take away from these seven marketing lessons is: there is no one true formula for marketing your company to scale to become a million-dollar company. You can, however, achieve this by implementing certain mindset elements.


Focus on building a community around your product or service and listening to your customers. This will help you learn what they really want so that when they do buy something from you, it's because they want what they're getting rather than just because they're tricked into it!

7 views0 comments