Marketing a new system of doing a business

Disclaimer: This article is me speaking to me through this blog!

Short Intro:

If you want to innovate in a particular field, you need to understand how things work in the first place.


Innovation is a broad term and happens to those who closely observe the system. In essence, innovation is a new way of doing things, and it should be converted into a product to get economic benefit from it.


We can innovate on an existing process like process improvement and cost-cutting, broadly referred to as Incremental innovation.

It is called Disruptive innovation if we change the process and conduct of the business to pursue higher growth and efficiency.

Replacing an old system with a new one is called Disruptive.

You don't need to market an incremental innovation, or least effort is required compared to a disruptive one. All we have to do is convince all the stakeholders and prove it's worth it.


Marketing a disruptive one is a different ball game and cumbersome because we are trying to replace the old system(way of doing things) and fill it with a new one they never used of.


Marketing a disruptive one!

Identify the pain points from the client's perspective.

Clients will resist disruptive innovations harshly because they don't feel the need for them.

Why?

They are content with the existing one because that's the one they are sure of. Let me elaborate; it isn't easy doing business, and victory is running a business despite being highly competitive.

The older system sustained them throughout the competition and made them alive. So it is not easy to persuade them to the new one.


Solution:

Prove them it's old.

The efficiency of the newer one must be greater than the older one.

Prove them it gives a competitive edge.

You should know the disadvantages of continuing the older one.

Remember, they won't give a damn about your innovation because they are happy with the older one.


What is the difference between customer want and customer need?

If you ask what they want? They would have answered faster horses. This is the customer's want. But to realize the need, you need to dig deeper into their want.

Why do they want horses? What are they trying to achieve?

If you can find those answers, you will land in a pool of customer needs. Probably you end up in a product called a 'Car' like Henry Ford.

'Wants' lead you to 'Needs.'
If you unlock the needs, you are in the land of innovations.

Since you innovate based on needs, you should make them understand their needs.


Where does your product fit in their business?

Every business doesn't like to take a break and give some time to change. They need to conduct business as usual.

Why?

Your product should not interrupt business flow because they developed the flow, which evolved to that point. This flow is the lifeline of the company.

If your product interrupts the flow, it will have to be rebuilt again, and they won't do that.


Solution:

Make sure you have a seamless product integration with the flow.

If you replace/innovate anything in the flow, ensure it gets accustomed to forward and backward linkages.

The cost of integrating should be as minimal as possible.


Understanding the dystopian perspective of the client:

Every client will be protective of their business like a child. It is natural to have dystopic fears related to the newer one.


Solution:

If your product shares or stores client data explain safety protocols and practices in place.

Who gets to access the data? Explain access hierarchy like manager access, field worker access, and admin access.

Nondisclosure agreement with the client.


Ensure both you and your clients are on the same page.

If you are talking cricket with the clients for hours and the client perceives cricket as an insect, not a sport. Then hours spent talking, and marketing is a huge waste.

So we need to pitch the product from their known terminologies and jargon, and more stories should be built around it.

Include success stories and promise them support throughout the association.


Last but not least,

Believe in your product; nobody knows other than you because you built it. Hence nobody can market it better than you, and that's the flexibility that many people won't have!