What’s one thing all marketers now have in common?
Virtually no room for error. We can’t afford to waste a single bullet at this point, right?
Only one problem: This quickly moves us to less impactful places.
Safer plays. Smaller bets. You know, “proven stuff.”
That won’t get the job done though.
It all comes down to figuring out how you can place bigger bets without assuming greater risk.
Quick refresher on two basic fundamentals we believe in:
1. Map the “bigger bet” to your growth hypothesis.
2. Make sure you have the right growth process.
But there’s an even more obvious one we were reminded of just last week:
Double up on the output to (1) maximize the outcome and (2) have a contingency plan.
Example:
Last week we were set to host the first in-person Growth Lessons event in Austin, TX.
Short version… A winter storm and its ripple effects ultimately forced us to postpone the whole thing the day of the event.
Ugh, it felt like a kick directly in the nuts. Money was spent. People had traveled. And we were so close. But thankfully we at least had another leg to stand on out there in the cold.
We had decided in advance that we would also create video content in Austin that we would not have been able to do without our team together in person like that. We had built that into the investment, and it paid off.
So if your next play has a natural counterpart, include it in your play.
For example, if you’re launching a big ad campaign, flesh out the organic part of it too (in case you run into ad budget cuts).
Or if you’re planning a big PR push, add the owned media component in detail (so you don’t solely rely on earned media).
Sounds so obvious and simple, right?
But if we didn’t have our videographer in Austin along with a plan for unique content creation, last week would have been a total waste for us. And we can’t afford that.
In 2023 it’s not about de-risking all your marketing – it’s about de-risking your bigger bets so you’re not crippled by the idea of doing anything beyond the most basic.
And speaking of “beyond the most basic…”
You know Growth Lessons as this newsletter. But it’s also on its way to become an event series. And soon you’ll hear it as a new podcast as well.
Simply put, Growth Lessons is a comprehensive educational initiative for marketers outside the B2B echo chamber.
We may have suffered a setback with last week’s inaugural event snafu, but we’re determined to get it right and bring serious value.
Onwards and upwards!
PS: If you haven’t seen them all, here are the previous newsletters with unique insights for you.