Sometimes last year Coca Cola came up with a great marketing strategy that appeals greatly to their target market.
The business strategy was simple; They started writing names on their cola drinks.
Their competitors (Pepsi and co) cried hard, because ___ it worked!
But why does it work?
Because people love to see their names.
We all like it.
It’s a psychological weakness.
So it happened that Ejiro would be happier if you buy her a drink which has “Ejiro” on it, so would Ejioma, Aminat, Bolanle or Ruth.
Yes, Joseph and Jude too would be happy.
Before you know it, Coca Cola sold more of their sugar drinks (sugar? yea, it’s sugar, water and anything else which I know is not good for anyone of us, though I still drank it yesterday. unch!)
Few weeks ago I was in my in-law’s house when I saw the commercial of Milo (thank God I went there, you know I don’t have a TV set in my house)
I caught Milo stealing!
They too have started writing names on their cups and targeting children with that.
It would only take time before we’ll know how much Bournvita would cry for that.
But, just as I was ruminating on this (or thinking on how I’ll steal that too?), I was reading a book call The Magic of Thinking Big.
At a point in the book, I found the foundation of this business strategy, clearly stated in the book.
I went back to check the year the book was published and it was 1959.
I then started thinking, “does that mean that Coca Cola stole this idea from this book?”
Or could it be that they stole it elsewhere and then Milo stole it from them?
It really doesn’t matter.
What matter is that, rather than calling it “stealing”, we would call it any other positive name.
But, Stephen, where exactly are you going?
Well, learn how to steal!
Wait a minute!
I don’t mean steal, I mean, creativity.
What is creativity?
Sometimes your ability to think and come up with a totally unique concept.
Some other times, it’s your ability to duplicate a working system.
After all, we’re all doing this every day.
I went to my brother and saw his sitting-room new chairs and said, “I will get this set”
You walk on the street and see a nice Honda car and said, “I will buy this”
Nobody considers that a sin, right?
What if you could do the same thing to be successful in your business?
If you truly want to become a successful business owner, you have to pay attention to how big companies compete, the strategies they use and then ask yourself; how can I apply that to my own business?
If it works for Apple, it may work for your small business. If it works for Virgin Airline, it may work for you.
That’s what Milo did.
I could see one of the top management team of the Milo thinking, “If this works for Coca Cola, why can’t we try it?”
Watch how Dettol soap won Nigeria market and how Oral B is fighting with Close-Up?
Do you see any relationship?
I bet yes.
Someone in Oral B must have sat down to thinking, “How can we ‘kill’ close up” and later thought, “If Dettol Soap could kill its competitors with this ‘expert-is-god strategy’ why can’t we try?
I prophesy that in few years’ time, Oral B might have successfully killed Close-up and it would not be because of anything, other than a strategy they “steal” legitimately from Dettol soap.
You got my message!
Learn how to pay attention to the bigger bros.
Don’t just watch TV’s commercials and posters.
Pay attention.
Ask questions.
Understand the inner strategies and tactics of the successful businesses.
If you do this, you’ll find the business world interesting.
You’ll “steal” from the bigger companies, the strategies to “kill” your competitors in your own small company.
I love you!
