Today’s businesses exist in an era that indisputably has an abundance of different marketing platforms available. The first marketing ever was simple, word-of-mouth. Print advertising followed: newspaper ads, hand-distributed pamphlets/flyers, and then evolved to mailed materials like catalogs and brochures. Eventually, radio revolutionized marketing by allowing companies to connect with mass audiences. Television soon followed and the modern commercial was born.
Nowadays, just about every company has some form of internet presence. An online marketing platform, may simply be a company website with contact info, or it may be a much more sophisticated collective: sleek company website, email newsletter lists with email marketing, pay-per-click campaigns, banner advertising initiatives, and social media management.
In this day and age it can be tough choosing the best marketing platform and determining how much time and resources to allocate to it. When presented with what may seem like an almost endless array of marketing platforms (but a fixed marketing budget) some companies may be tempted to invest only in well-established platforms that have a proven return for their business sector. However, while this may seem like the “safe route” it could actually lead to missed opportunities and being left in the dust by more prescient competitors who correctly anticipate the market trending toward a major new platform.
New Platforms = New Customers
A new marketing platform, such as a new social media community or networking site often comes with an all-new set of customers and an all-new demographic. True, many of the people using the new platform may also be using more established platforms, but many of them may not be, so there could exist some positive overlap. Regardless, your current customers may be much more receptive to marketing campaigns on this new platform. Everyone’s seen some type of advertising before, but imagine being exposed to your very first marketing-related tweet, Facebook company page, TV commercial, email, etc. The novelty of the new platform alone may make customers take notice and provide you a new set of customers.
Beat the Competition
The problem with waiting until a marketing platform is well established and has a proven marketing return, is that your competitors are already getting that return and have already established themselves on the platform. It would now be much harder for a new company to break into the market share and get a great deal of attention. Competition is much stiffer and by now potential customers have already seen competitor advertising for your industry’s space. By contrast, if you begin marketing on a new platform early, you will almost guarantee that yours will be the only, or one of the only, companies in your sector that potential customers are exposed to.
Reach and Stay on the Top of Lists
Many platforms that feature search capabilities include seniority as an element for search result ranking. Other common criteria include views, likes, reposts, followers and subscribers, etc. In all cases, starting early allows you to not only reach the toward the top of these lists, but helps give you a sustainable edge. If your ad or site is the only company, or one of a small handful of companies that pops up, then chances are better that you will be viewed, liked, followed, etc., thus further cementing your status. By contrast, waiting until late in the game means that your profile, ad, or post will likely result in your company being buried at the bottom of the list, or many pages back on search results, and thus viciously making it more difficult to ever accumulate the views, followers, likes, etc. that you need to rise up the ranks.
Ride the Snowball Effect
Taking the effort required to build equity in a new marketing platform can seem like a daunting prospect, but it is worth it because it allows you to benefit from the snowball effect. Get in early before the competition, connect with new customers and make sure that yours is the company they are talking about, build your reputation, cement your high ranking, established status, and then reap the rewards.