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“LALA” – A short lesson in marketing

By: Dave Berkus

 

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Let’s focus not upon the process of marketing and positioning, but on you.  How should you become the best marketer you can be, even if you are a first-time entrepreneur or a seasoned CEO?

There’s an answer for that.  The title of this insight helps us find a formula: LALA.

Memorize your use of “LALA”

Listen! 

The first rule of marketing and positioning is to listen to the marketplace.  Interview potential customers, hold focus groups, meet with existing customers.  Hire consultants. Attend trade show education sessions. Ask you field representatives to debrief you about what they are hearing.  But listen!

Adapt! 

Create, change, throw out, tweak or put more resources behind those efforts or campaigns that are working.  Listening does no good without action.  And the first thing in marketing is to adapt your product or service to the needs of the marketplace.

Learn!

Measure the results of your changed program in as many ways as possible. Create metrics for customer acquisition, retention, conversion, reach, or anything that helps you to better understand the effects of your changes to the program.

Adapt (again)!

It’s not unfair to reinforce the cycle by again adapting to the market after learning from your changes.  Start the cycle all over again, and never stop.

LALA:  Listen, adapt, learn, adapt.

Published: May 10, 2021
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Source: Berkonomics

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Dave Berkus

Dave Berkus is a noted speaker, author and early stage private equity investor. He is acknowledged as one of the most active angel investors in the country, having made and actively participated in over 87 technology investments during the past decade. He currently manages two angel VC funds (Berkus Technology Ventures, LLC and Kodiak Ventures, L.P.) Dave is past Chairman of the Tech Coast Angels, one of the largest angel networks in the United States. Dave is author of “Basic Berkonomics,” “Berkonomics,” “Advanced Berkonomics,” “Extending the Runway,” and the Small Business Success Collection. Find out more at Berkus.com or contact Dave at dberkus@berkus.com

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