Marketing can only accelerate an exceptional product.
If your customer base is dependent on regular marketing efforts, then your product is not providing as much value as it should.
Insight:
You have a cognitive bias to say, 'Since I did my best on this product, it is the best product.'
Mindset shift:
Marketing is an accelerator of an exceptional product.
Cognitive Bias:
How do you know your product is exceptional? You don't, The market tells you.
You have a cognitive bias to say that
'Since I did my best on this product, it is the best product.'
By basing the exceptionality of your product on customer satisfaction and feedback, you be confident in the organic growth of your company and then focus on marketing stage.
How to know if you are Biased:
If you cannot stay afloat without marketing:
- customers are not coming back to buy from you
- word of mouth is very weak
- growth is directly tied to marketing efforts
- Business will likely die when your marketing efforts are stopped
“The only thing that can drown an exceptional product is that it's mispriced" - Alex Hormozi.
Actionable:
Identify if you base the value of your product based on your hard work.
I found this information through this YouTube video: