Title RIG_Purple Cow Graphic Summary.pdf ✅

Copyright © 2022 Skool of Happiness Pte Ltd. All Rights Reserved. readingraphics.com ReadinGraphics ReadinGraphics Traditional marketing and mass-media advertising no longer work. Today, the best way to launch a new product/service or grow a brand is to be remarkable. A Purple Cow = something remarkable that’s worth noticing and talking about. You’ll need it to stand out in a crowded marketplace. Before the age of TV and advertising, people relied mainly on word of mouth. Mass-media ads (e.g. TV, newspapers) were effective as there were relatively few advertisers or choices. The market is saturated with ads. Consumers ignore unwanted messages as they have too many choices and too little time. Go for the smallest market niche for which you can deliver an irresistible product. Develop a slogan or positioning statement to capture what’s true & remarkable about you. Marketing Ps Attributes Test & Learn Don’t target the mass-market directly. You’ll end up creating safe products that are too boring for innovators and early adopters, and the early/late majority will simply ignore your messages. Focus on a specific niche. Make sure your product is irresistible to the target audience, so you can get early adopters to try and promote your solution to others. Focus on the sneezers (influencers) among the early adopters, and make it easy for them to spread your “ideaviruses” to the rest of the curve. The Death of Mass-Media Advertising Advertising has changed drastically in the past decades. The age of mass-media ads is over. The Adoption Life Cycle All new products/services move through the market in various stages. After Customer Value Without innovators and early adopters, a new product/service cannot reach the mass market. Innovators First to try new products out of interest. Early Adopters Actively looking for solutions to their problems. Laggards Only enter the market when others are moving on. Early and Late Majority Happy with existing solutions and will ignore messages about new products. Will only listen to recommendations by early adopters. The New Rule of Marketing Build your business in the post-advertising era with a different growth cycle. Targeted marketing, not mass ads Measure meaningful outcomes to keep improving. Once you’ve crossed the chasm with a Purple Cow, milk the Cow for profits and concurrently create a new Cow before the old one gets boring. Short cycles, not long ones Have the courage to take risks and stand out, even if it means you’ll definitely fail at times and face criticisms. Taking risks is safer than being boring and invisible in a crowded marketplace. Fear invisibility, not failure Don’t churn out meaningless marketing campaigns. Focus on a few dramatic improvements or promotions that matter to the right audience. Big changes, not small ones Explore the fringes to find ways to be remarkable. Consider: product, pricing, promotion, publicity, packaging, positioning, pass-along, permission. How can you be the “mostest” for various attributes, e.g. the most durable, simple, exclusive, cool, fun, personalized? Test, measure, learn & refine your approach to figure out which methods are the most likely to succeed. EXPLORE THE EDGES To be wildly-successful, you must be an outlier, not the norm. Build remarkable solutions that solve problems and are worth talking about. Remarkable, not average Link up with early adopters who truly care about your solutions. Get their help to refine/launch new Purple Cows. Hire people or agencies with passion, who’ve launched Purple Cows and can get inside your target audience’s heads. Have a process to systematically test prototypes, and equip your team with innovation, design & influence skills. People with “otaku” Chasm Diagram adapted from Crossing the Chasm (by Geoff Moore) and Purple Cow (by Seth Godin) Old Rule = Create safe products that can be marketed to the masses. New Rule = Create remarkable products that will attract the right people. Make More Profits Reach More People Buy Ads Sell More Products Reinvest Profits Spread via Sneezers Create Purple Cow Milk the Cow Before During The New World of Marketing Creating your Purple Cow PURPLE COW Seth Godin TRANSFORM YOUR BUSINESS BY BEING REMARKABLE