Since the days of Dhirubhai Ambani, Reliance has always been relentless when entering into any market. And Mukesh Ambani maintains the legacy. Jio showed every company how to put a dent & get a revolution in the industry.
We are here to help you with few pointers one can learn from Jio about marketing & strategy.
1. Not a new product but innovation is the key
Uniqueness in your business doesn't come from a different product but also from how meaningfully you promote it. Ask yourself, Why would you as a customer try your own product when there are so many situated players in the same line of business ? The answer is the roadmap to your marketing strategy. Jio didnt only provide data services free of cost but also never compromised on quality.
If you are a start up, the counter argument you would have will be the availability of capital, however, my point is, you are not supposed to give away your product but how you convince the consumer that your product is meant specifically to fit their needs & at the same time meant to give them a benefit they never received before. Be creative with your approach,marketing is all about thinking out of the box and bringing something new to the table.
2. Know your cards well & competitions better
Its not the survival of the fittest now but survival of the best. Technological advancements & ease of access has increased competition in the market like anything. You can find numerous versions of a single line of business and thats why creative & strategic marketing plays way more crucial role today.
Moreover, while developing the strategy your prime focus should be on the competing market & understanding the statistics of the impact they have on the target consumer. Design the strategy to impact your target consumer DIFFERENTLY.
The groundwork and preparations for the Jio launch have been in the making for almost six years, since Reliance bought a company that had won pan-India 4G airwaves in 2010. They made substantial investments in tower to fibre technology in the last couple of years, keeping in mind the "data-play" as against the standard "voice-play". thinking one step ahead is common and now everyone is trying to think 2 steps ahead, but if you want to make a mark think 3 steps ahead. You can only foresee the future when you create it yourself. 4.
Enter with a bang & maintain the impact No one notices average & before your idea gets lost in the crowd, you have to enter with an image of being larger than life or at least have that impression. No business can gage attention by being just another new kid in the neighbourhood. Instead it has to the be that new pretty girl in the college who is mysterious and attractive at the same time. 5. Compensate your product's shortcomings There is NO perfect product and I didn't forgot to disable caps lock while writing 'NO'. No matter how big the company is, there are always shortcomings to the product it makes.
However, what matters is how you deal with the shortcomings of your product. Even though Jio when launched had least stable and disruptive calling service, it was compensated by the fastest data services it provided free of cost. And as you all know what was the outcome of that strategy, it also teaches us how to strategise to turn the shortcomings into winnings.
Blog written by - Puneet Malik
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