Are We So Focused on Large-Scale Thinking That We Neglect Pragmatism?
When I was a graduate student living in Boston, I joined Big Brothers of Massachusetts Bay because I wanted to give back to the community by volunteering my time.
It was a great experience for me, and near the end of my stay in Boston, I attended a meeting on how to grow volunteer membership for the organization.
At this meeting, the person who organized the local chapter forwarded his idea that we should set up tables at intersections of well-trafficked walkways on college campuses to try and draw interest in becoming a Big Brother or Big Sister.
The advantage was that we would catch the attention of hundreds or thousands of passers-by, at which point we would then have a flyer we could hand the person.
This was a perfectly viable idea in my opinion, but I had a different idea.
What if the probability of "conversion", or convincing a random person to volunteer, was so low, that the best way to increase conversion was to focus on a smaller group of people that know and trust us? I suggested, for example, that I could ask my brothers to volunteer since I had such a great experience as a volunteer.
My idea was simple.
Although I was only asking two people, the probability of conversion was MUCH higher, hence we might conceivably gather more recruits using this method.
My idea was paid almost no attention, but I still believe it is a good one, and one that you can apply to the marketing approach of your small business.
In today's world of "volume" and "numbers", people automatically assume that bigger and louder, or in the case of social media, a greater number of visitors, must be better.
This is simple linear thinking, and while not wrong, it should not necessarily dominate your marketing approach.
Efficiency and finesse DO matter.
My opinion is that maximizing customer value is much more effective, because one highly satisfied customer can promote your business and lead to many more sales with much higher probability.
This "diffusion" oriented approach to marketing is well-known in the business world (find some general information here: https://en.
wikipedia.
org/wiki/Diffusion_(business).
The key to effective diffusion (similar to a chain reaction) lies in the point of origin.
Instead of trying to appeal to huge numbers of people with whom you have practically no connection, spend some time instead focusing on small groups of people with whom you have a strong personal connection and see if your message can diffuse more effectively this way.
Can you think of a creative way to incentivize people on a small scale to rapidly spread your message for you? It is simple mathematics.
As one example, a 50% success rate with 2 people you know very well (which equals success with 1 person) can exceed your success rate with 10,000 people you do not know at all (success rate perhaps near 0% with total strangers).
I'm not saying this approach will be the key to your success, rather, I am just emphasizing that long term success in your business will be a function of good ideas, whether they are "big" or "small".
It was a great experience for me, and near the end of my stay in Boston, I attended a meeting on how to grow volunteer membership for the organization.
At this meeting, the person who organized the local chapter forwarded his idea that we should set up tables at intersections of well-trafficked walkways on college campuses to try and draw interest in becoming a Big Brother or Big Sister.
The advantage was that we would catch the attention of hundreds or thousands of passers-by, at which point we would then have a flyer we could hand the person.
This was a perfectly viable idea in my opinion, but I had a different idea.
What if the probability of "conversion", or convincing a random person to volunteer, was so low, that the best way to increase conversion was to focus on a smaller group of people that know and trust us? I suggested, for example, that I could ask my brothers to volunteer since I had such a great experience as a volunteer.
My idea was simple.
Although I was only asking two people, the probability of conversion was MUCH higher, hence we might conceivably gather more recruits using this method.
My idea was paid almost no attention, but I still believe it is a good one, and one that you can apply to the marketing approach of your small business.
In today's world of "volume" and "numbers", people automatically assume that bigger and louder, or in the case of social media, a greater number of visitors, must be better.
This is simple linear thinking, and while not wrong, it should not necessarily dominate your marketing approach.
Efficiency and finesse DO matter.
My opinion is that maximizing customer value is much more effective, because one highly satisfied customer can promote your business and lead to many more sales with much higher probability.
This "diffusion" oriented approach to marketing is well-known in the business world (find some general information here: https://en.
wikipedia.
org/wiki/Diffusion_(business).
The key to effective diffusion (similar to a chain reaction) lies in the point of origin.
Instead of trying to appeal to huge numbers of people with whom you have practically no connection, spend some time instead focusing on small groups of people with whom you have a strong personal connection and see if your message can diffuse more effectively this way.
Can you think of a creative way to incentivize people on a small scale to rapidly spread your message for you? It is simple mathematics.
As one example, a 50% success rate with 2 people you know very well (which equals success with 1 person) can exceed your success rate with 10,000 people you do not know at all (success rate perhaps near 0% with total strangers).
I'm not saying this approach will be the key to your success, rather, I am just emphasizing that long term success in your business will be a function of good ideas, whether they are "big" or "small".
