What if you could deliver the exact product that your customers want?
Every business knows that the key to their success is giving their customers what they want. In reality, though, this is a process that is easier said than done.
However, pragmatic marketing is the key to focusing your products and boosting your sales. Despite this, many companies don’t know what this marketing is and how it can transform their business.
Curious if the “pragmatic” approach will work for you? Keep reading to discover what it is and how you can make it work for you!
What Is Pragmatic Marketing?
It’s an open secret that the entrepreneurial industry is full of buzzwords that often overpromise and under deliver. It’s understandable if you think “pragmatic marketing” is one of these terms.
However, this form of marketing truly lives up to the “pragmatic” part. What is it? Simply put, this form of marketing is about providing goods that are tailor-made to a customer’s needs.
Of course, it’s not as easy as it sounds. The actual pragmatic process involves a ton of research and testing before you can produce the perfect product.
How Does It Work?
The first step in the pragmatic process is researching your demographics. It’s important to develop a very clear idea of who your customers are and exactly what you want.
This goes beyond cracking open a few books, though. You’ll need to conduct interviews at almost every stage of your planning, production, and marketing process.
Such interviews are a very valuable source of information as well. They help you identify the strengths and weaknesses of your own products as well as those of your competition.
Eventually, you must turn that analytical lens inward as well. In addition to identifying different market segments and product opportunities, you must identify all of the assets at your company’s disposal and how best to utilize them.
Examples of Pragmatic Marketing?
While you may feel new to the world of pragmatic design, you’re actually surrounded by examples of it. All you have to do is take a look around next time you go shopping.
Many popular athletic shoes by companies such as Nike and Reebok use this pragmatic approach. This involves identifying the unmet needs of their key demographic (athletes) and extensively testing their product until they have delivered what athletes want.
Apple is another company that often uses the pragmatic approach. As their “bread and butter” is to create progressively improved versions of previous products, they conduct extensive testing to see how they can better meet the needs of their consumers.
As you can see, this is a versatile marketing approach that helps demographics as varied as fashion and technology. That means there is a definitely a way that your own industry and business can be enhanced with the pragmatic approach!
The pragmatic approach has several different elements. And one of the most important elements is positioning.
No matter how much testing you conduct, there will be limits to how much feedback you can get. So when it comes to actually marketing the product, you must emphasize positioning.
Earlier, we mentioned Apple as a good example of the pragmatic product marketing approach. Think back to their early iPod advertisements in which dancing black silhouettes sported shiny white headphones.
This positioning worked because it helped model how consumers would enjoy this new product. And it helped to transform the basic act of listening to music into something that felt exciting and innovative.
The Need for Urgency
When we discuss giving consumers what they want, there is an important element to this equation. Specifically, you must have identified problems that are truly urgent in the eyes of a consumer.
This is because there are many things that consumers would like to change about their products. But there are only so many things they are willing to pay a premium for.
For instance, customers had enjoyed cellphones for many years. However, those phones were limited in their capabilities and relatively clunky to use.
The advent of the smartphone felt like a revelation. The touchscreen made using the phone easy and intuitive, while the ability to download various apps increased the phone’s utility.
Early smartphone manufacturers like Apple identified the truly urgent needs their consumers had and realized that these customers would be willing to pay extra to have those needs met. The rest is pragmatic history!
The Importance of Timing
Another part of pragmatic marketing is to generate and utilize buzz marketing. In order to do this properly, you must put great detail into the timing of your product’s release.
For instance, there is a reason that many important products come out over holiday weekends or during major holidays such as Christmas. It means that consumers have the extra time necessary to go buy the product.
Furthermore, those early adopters are going to have extra time that weekend to use their new product and tell their friends about it. However, if the product had come out in the middle of the week, these easy opportunities would be lost.
Pragmatic Product Lifecycle
We’ve hinted at this already, but let’s now be explicitly clear. To master the pragmatic approach, you need to rethink the lifecycle of your product.
There are basically two ways to go about the creation and marketing of your product. Which way you embrace depends largely on your schedule and your available resources.
The first approach assumes you will release a single iteration of a product. This is the more “traditional” pragmatic approach, and it requires putting even more emphasis on testing, prototypes, and consumer interviews.
The ultimate goal? Getting everything perfect right out of the gate.
The alternative approach is the “lean” method. This means bringing a more limited version of your product to the public as soon as possible. This allows for extensive testing and feedback before bringing improved versions to the market.
The Bottom Line
You know now how pragmatic marketing can help transform your business. But do you know which company can help you on his journey?
At New Entrepreneur Secrets, we hold the “secret” to making small businesses big. To see what we can do for you, reach out and contact us today!