We have seen many great trends and companies striving to ride the waves. However, only a few companies put mind to doing what actually works. Joseph Jaffe, the author of “Flip the Funnel”, talks about changing the rules of the game by flipping the traditional marketing funnel. while the majority of businesses merely relies on traditional ways or making some corrections. The traditional model of AIDA (Awareness/Interest/Desire/Action) is flipped into ADIA (Acknowledgement/Dialogue/Incentivization/Activation). This new model focuses on retention of existing customers rather than attainment of new customers. When I come across an article about Amazon, I found the backward model was actually being used in a leader company.
Here is an overview of how Amazon operates:
Press release listing benefits of the new product -> Get feedback -> Focus on specific target customers -> Focus on problems they face in current products -> Fix its new offering -> Repeat the previous steps until it finalizes a list of benefits -> Build the product -> Describe how its new product is solution to current problems
Traditional way: Target a segment of which the company thinks will be the most profitable for itself -> Build a product -> Advertise the new product as if everyone needs it -> Fail -> Fix the existing product/Launch new one
Amazon manages to build a perfect product for its target customer by actually focusing on its customers by maintaing continuous dialogue with the market. As the traffic initiator for Amazon points out, this way is cheaper than fixing already-built products.
Categories: