Entrepreneurial firms can gain a competitive edge by utilizing five underexplored marketing strategies. These are Guerrilla Marketing, Dark Social, The Chasm, and Evangelist Marketing.
Guerrilla Marketing emphasizes unconventional strategies to promote products. It is creative, targeted, and often localized. It doesn’t require a large budget but attains attention through creativity and shock value. The Blair Witch Project exemplifies this strategy, using a limited budget to create a faux-documentary style campaign that sparked tremendous public intrigue, leading to substantial box-office success.
Dark Social involves private networks such as email, chat apps, and closed social media groups for sharing information. Although it is tricky to track using conventional analytics, it can be extremely powerful if utilized correctly.
Utilizing underexplored strategies in entrepreneurial marketing
Producing premium, shareable content can encourage its use, boosting organic traction and brand visibility.
The Chasm, a theory by Geoffrey Moore, highlights a gap between early adopters and the majority of the market during a product’s lifecycle. By understanding this model, businesses can strategically alter advertising tactics for various market segments, optimize their product appeal and gradually permeate different consumer populations. Tesla’s successful traversal of this divide by lowering prices and improving infrastructure exemplifies this approach.
Evangelist Marketing relies on turning existing clients into brand ambassadors. Providing a unique customer experience or incentives can encourage customers to share their positive experiences with others. By fostering a sense of community among loyal customers and maintaining high-quality products or services, businesses can cultivate a loyal following and amplify their organic word-of-mouth advertising.
By leveraging these underused strategies, entrepreneurial firms can secure a unique position in the marketplace, stand out from competitors, and better navigate their growth objectives. They can refine their communication methods, prepare for potential pitfalls, and ultimately improve company performance and results.
