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Mary Schmidt Marketing Troubleshooter

Mary

Idea Pool

Mind Share Before Market Share

Mary Schmidt

Apr 22, 2014

Recently, I was discussing next steps with an entrepreneur. Cool product. “Why didn’t I think of that?” Smart people. Tons of international market potential. Already moving ahead…but not exactly sure where “ahead” was leading.

So, we had a brief conversation about needing mind share before market share.

Couple of basics:

1. Anyone can sell one of anything to somebody.

2. Customers may love the idea…and then will never pay for the actual product.  (And if you talked about it with them six months ago…they may well have moved on to something else…not so excited anymore.) 

So, that international market potential is awfully sexy...but...see #1 and #2 above.  I’d submit you need to sell some, not just one to a handful of name customers. Get that market mind share…or you may never get that market dollar share.  Offer a beta deal. Get the orders. Create customer advocates. Nothing is ever perfect,..but you can still sell it, as long as you set expectations.

Someone out there is almost certainly already thinking about that great idea…and maybe moving faster.

Related posts from the archives:
There’s a Reason They’re Called “Market Windows.”
The “Whens” Whim-Whams
Things Things to Forget in Biz Deals
While You’re Getting Up to Speed
“Millions Should” But…They Won’t.
Everything You Know is Wrong.
Innovation Ain’t Always Pretty
It Doesn’t Have To Be Perfect. It “Just” Has To Work.
Avoid Customer Focus Myopia

In Start-Up Sanity Checks, Marketing Troubleshooting

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