Asking the right questions in the market

B2B, Marketing, Questions, segmentation, Testing, value proposition

Understanding which questions to ask is an art. It was said that Socrates had a great method to ask questions which got him to the bottom of a problem.

I have actually been very weak in asking questions.  It takes me a lot of understanding to get down to the bottom of things.

I have used frameworks like the 5 Why or 7 Why model to figure things. I have used things like the 80/20 rule to try to identify the small causes for repeatable/fractal patterns.

In most areas in life asking the right questions makes a lot of difference to your success.

In marketing its all the more important because you are dealing with different types of people. In B2B marketing where there are even more players involved at the customer level, understanding the different drivers for each player becomes critical.

If you ask a question about “why is the customer not wanting to buy from me” versus “what could be the compulsions for the customer to not look at my solution ” you could get completely different answers.

Those questions will totally change the way you address the issues in the market. You may be able to figure out a completely different value proposition from what you were thinking about. Your niche or segmentation could completely change.

The other thing about marketing that I have learnt over the years is that there are no absolute truths in the market. The market and its participants have a mind of their own and their perception is their Reality. Once a perception has been created it becomes very difficult to change.

So the bottom line is to think of questions from different vantage points to get to different possibilities and then Test them.

I am still learning this art and working to improve myself. How about you?

Till next time then.

Carpe Diem!!!

Product Marketing questions I am pondering on

Marketing, Product Management, Questions, single target market

I have been reading the book The Road Less Stupid…… by Keith Cunnigham.

One chapter which has had me thinking extremely seriously is on Simplifying Growth. The reason it has got me thinking so much is that it is very closely related to product management and marketing.

It has all the related dimensions that I keep talking about how you need to go about marketing, yet when it comes from a third party and you read it, the significance of what is being written becomes even more striking.

Some of the questions which are given in this chapter which I am pondering about are

  1. What has to happen for the customer to cause them to buy from me
  2. What must happen to keep them coming back
  3. What could happen to cause them to not buy

These are extremely deep for a product manager to look at. If you can get a crystal clear answer on these you can build your product marketing strategy very well.

If you choose a broad market then answering the above questions will be very tough if you are releasing a new product in the market. If you choose a very fine niche in the market then you can clearly answer them and build a much better plan.

Test it out and let me know in the comments below.

Till next time then.

Carpe Diem!!!