Week Thirty Eight Briefing:
Expand Your Market by 20 Times
Through Accelerating Trial
Welcome back to The Billionaire Entrepreneurs’ Master Mind marketing course! We are glad to have you as a member and to share this thirty-eighth briefing with you.
You will be receiving 100 briefing documents over two years. You will probably enhance the benefits you receive from your membership and learn more if you make it a practice to read these briefings within a week of receiving them.
You will probably gain even more benefits if you review the latest briefing for five minutes before retiring at night. While you sleep, your subconscious will develop wonderful new solutions for you.
Our work that was focused solely on eliminating stalled thinking ended with the 19th briefing.
With this briefing we continue our shift to working on the first of three 2,000 percent solutions – making an existing or new market 20 times larger.
Let me summarize where we are on expanding the market by 20 times. We looked at how expanding distribution can cause a market to grow by twenty times in the twentieth briefing. Our twenty-first topic was the role that increased awareness can play in market expansion. In week 22, we considered how an improved image can stimulate market growth. We looked at how social proof can expand a market more rapidly and to a larger size in the twenty-third briefing. For the 24th week, we investigated the role that authority plays in increasing markets. We looked at how doing favors for people first can trigger reciprocal favors and purchases during week 25. The twenty-sixth briefing looked at the role of commitment and consistency in creating buying. In week twenty-seven, the briefing considered the role of scarcity and fear of loss in affecting purchasing behavior. We considered how liking people and having them like you helps a market expand in week 28. How entertainment makes industries grow was our 29th briefing. During week 30, we took a mental journey to imagine the details of a 20 times larger market and the steps needed to reach that level. We looked at how to create instant trust to add customers faster in week 31. Our focus was on creating a dramatic, indelible brand that establishes an industry in the 32nd briefing. During week 33, we evaluated how to accelerate growth by eliminating anxiety for customers and employees. Our 34th briefing investigated how you could add your own flair through a distinctive style to expand the market faster. We explored how eliminating shortages can greatly expand the market during week 35. Our 36th briefing investigated how reducing the price point for an offering can stimulate demand. Last week we looked at ways to overcome inconveniences that retard customer use.
Even in very mature markets, most people will not have tried alternative offerings recently . . . if ever. As an example, I have many friends who describe the joys of an Apple Mac computer. Yet, I’ve never so much as looked at the screen of one. This is true despite having been a shareholder in Apple at its IPO and having employed Apple computers before the Mac and the IBM PC were invented. Will I ever look at a Mac? I don’t know, but I am sure that Apple won’t make any money off me until I try one and decide I like it.
The problem can be even more severe if a product has a reputation for problems. When I was a child, one type of personal soap, Lifebuoy, had an obnoxious smell. I cannot imagine why anyone ever bought that soap again. The manufacturer decided to remedy the problem and ran ads to encourage people to try the new “better smelling” version. In fact, the new version did smell fine. But having been burned once, why would anyone want to take a chance?
Sometimes a product is also hard to understand. I reviewed one called the Ball of Whacks which is a creativity tool developed by Roger von Oeck, one of the world’s leading