Illustration / FEDERICO GASTALDIHAVE A PROBLEM WE CAN SOLVE FOR YOU?
What’s Your Problem? TELL US AT [email protected]Finding New Customers
for an Old Product
Having a successful product or service is a big win. But keeping it top of mind for consumers
(and winning new ones) can be a challenge. by ADAM BORNSTEINnew triggers excitement. As we
age, consistency creates comfort.
(Just think about the evolution of
your taste in music.)
Knowing this alone, of course,
isn’t enough to help your business
succeed. But it is a reminder that
understanding your customer
can help unlock opportunity.
Much of what makes some-
thing cool isn’t how long
it’s been around—it’s how
effectively it makes people
feel. “Reason might reveal why
we should believe a certain
truth,” writes Jason Harris, CEO
of creative agency Mekanism,
in his book The Soulful Art of
Persuasion. “But a well-told
story does something even bet-
ter: It transports us to a place
where we can see or experience
that truth for ourselves.”
To keep your company fresh,
focus on telling its story and
determine how you want that
story to spread. You don’t need
something new to have value;
you just need your value to be
top of mind.
Consider the following ques-
tions: Why does my company
exist? Why is it more relevant
today than ever? Who is aware of
my story, and how has it changed
over time? What part of my story
speaks to my current customers,
and what part do new customers
need to hear? Where is it best for
customers to hear these messages?
You might need some insight
to answer those questions. Ask
current customers for feedback,
and offer rewards for their timeand help. Ask new audiences for
their time as well, and offer some-
thing simple like an Amazon gift
card in return. (After all, you first
need their insights; their business
can come later.)
Once you have clarity, you can
tackle the hardest part: deciding
how, and where, to tell your story.
To engage your current
audience— especially if you have
a direct line of communication
like email—you could encourage
them to tell your story for you.
A referral campaign, for exam-
ple, can turn them into even
stronger advocates and amplify
your message.
To reach a new audience,
revisit those earlier questions:
Where do they consume informa-
tion, and how will they be influ-
enced? Depending on the age and
interests of your target audience,
consider anything from paid
social ads and influencers to pod-
casts or traditional TV ads.
Just remember, if you and your
legacy product are still around,
it’s a competitive advantage.
Don’t try to be like the new, flashy
companies— most of them will
fade. Your promise can be reliabil-
ity: When customers need you,
you’ll be there. That trust and
security will help you say “Hasta
la vista” to the competition.Adam Bornstein is the
founder of Pen Name Consult-
ing, a marketing and branding
agency, and the creator of
two12, a mentorship experience
for entrepreneurs.BUSINESSES CAN learn a lot
about marketing relevancy from
Arnold Schwarzenegger. I’ve
worked closely with the body-
builder turned actor turned
governor for nearly 10 years,
and I’m continually amazed by
the way that, at 72 years old,
he can charm a room of aging
gym buffs—then post a video on
TikTok and have 20 million
teenagers laughing.
It’s a master class in satisfying
the old and intriguing the new.
To replicate it, any entrepreneur
must understand when to createexcitement and when to double
down on the familiar.
We’re conditioned to believe
that new things generate the
most interest, excitement, and,
as a result, sales. But there’s a
twist. Stanford University neuro-
scientist Robert Sapolsky has
famously studied when we form
our tastes, and he found some
useful patterns. In our 20s, we’re
most into new ideas. As we pro-
gress into our 30s, we start to
desire familiarity instead of
novelty. If you think about it, this
makes sense: When we’re young,I have a legacy product that my customers
love. How do I keep its promotion fresh in
order to drum up new excitement and new
customers? —BRAD, GAINESVILLE, FLA.30 / ENTREPRENEUR.COM / March 2020