I just found out today that Tesla doesn’t have a marketing team, a Chief Marketing Officer, not even an advertising agency. They spend $0 on marketing. It reminds me someone used to say “advertising dollars are your tax payment on a product”.
But it doesn’t mean that Tesla doesn’t do marketing.
How can you sell a product without spending money in marketing or having a marketing team? These are my observations:
1. You need to have a great product. A definition of great products are broad. It must solve customer’s problem. It must make customers feel good about themselves. One thing for sure, a great product must have a clear role in making customer’s life better.
2. You must have interesting stories and you must tell the stories well. Great story = free publicity.
An interesting story is free publicity, and a good reputation builds a brand.Tameem Rahman
3. You are selling something more than your product. You sell a vision to a better world. You cannot have great stories if you try to sell product features. What is your just cause? What is the reason why your product exist in this world?
4. You must have a clear description of your followers in mind. By followers, I am talking about the people who follow your cause. You are a leader of a cause. It’s not for everyone. There are some people who passionately believe in what you do. They want to follow you. They are happy to pay a bit extra to be a part of your world.
These are the formula of how to sell products without spending marketing dollars.
At Strategy in Bytes, we help small businesses with minimum marketing resources to save money by creating a differentiation strategy to drive growth and increase profitability.