In marketing, and in business in general, they say you must be able to recognize and seize opportunity. It’s a truism, an aphorism, a cliche: You must seize the day! … So what do marketing opportunities look like?
I was talking to Dan Burstein yesterday, getting ready for his session at the Integrated marketing Virtual Conference, and he produced a pair of slides that perfectly illustrate what real marketing opportunities look like.
Visualizing Marketing Opportunities
Where’s the opportunity?
That’s what marketing opportunities look like: 74 percent of consumers are interested in free shipping, but only 18 percent of marketers offer it.
And don’t misunderstand, the opportunity is not just in free shipping. Check out the same difference in opinion on physical direct mail updates.
Marketing Opportunities are Gaps, Not Channels
A marketing opportunity does not look like any one specific tactic or channel. The opportunity is the gap between what customers want and what marketers are offering. That’s what you’re looking for.
When more than 50 percent of customers want a benefit like free shipping, but only 20 percent of marketers offer that benefit, that’s an opportunity. Any marketer willing to offer that product with free shipping has a golden opportunity to make a dent int he market.
When I saw these slides, they kind of blew my mind. And Dan has 10 examples of gaps like these, all based on MECLABS research, in his presentation for Thursday.
So now you know what marketing opportunities look like, and I hope you never miss one again.
And don’t miss the opportunity to catch Dan’s session at #IMV16 on Thursday! Click here to register.