Businesses of all sizes sometimes need a break or a gimmick to grab the attention of the right people. Well, they say nothing succeeds like success. And nowhere is this mentality more on display than in Hollywood, big or small screen. Even if a movie doesn’t “feel” right for a sequel, if it hits, you can bet someone somewhere will give a sequel a shot.
The same could be said for smaller brands trying to find their way into the market. The key is to start with something already successful, and do something unique, or functionally and experientially different, with the new product.
Ronn Torossian, CEO of 5W Public Relations, offers 4 reasons that can be good jumpstarters for small businesses:
Familiarity : If a customer base is already on a friendly basis with a function, product, or service, then they are more likely to give something similar a second look, as long as it promises a better, different, or more interesting opportunity. Not everything good has to be reinvented.
Fan base: An established fan base not only means people are familiar with the concept in question. It means people have already paid for the privilege of interaction with this product or service.
Less push back : With an established concept, investors are less likely to say “no” outright, or to push back with unreasonable expectations, or endless questions. This time is vital to the shorter project cycles smaller companies have to deal with between project start and payoff.
Proven formula for success: One of the most important aspects of brand growth is consumer and investor confidence. When brands engage in proven formulas for success, and then show a series of successful and profitable enterprises, they build up the sort of market confidence both investors and customers appreciate.
It may not be a comprehensive list, but these points aptly explain how and why sticking with the familiar can help a new brand find some market share, and achieve success — and of course, as Ronn Torossian would be the 1st to remind us, a strong public relations campaign also wouldn’t hurt.