You may have read our announcement two weeks ago. It still stands — Lufthansa was the first airline to announce their plans to trial VR In-flight Entertainment and they have been working on the idea for quite a while now.
Having said that I just read that Australia-based Qantas yesterday has announced the exact same thing. Being a very marketing-oriented person at my inner-most core I must say: “Well done, Qantas”.
And I really don’t mean this in an ironic way. I admire great marketing because as an entrepreneur it helps me to sell my dreams and hard work.
And this is an opportunity that goes especially for companies that are “smaller” than their competitors (if you allow me to use the word “small” for such huge corporations). Compared to Lufthansa, Qantas is much smaller.
Let me tell you something about marketing that I have been praying for years. Let’s assume I am really knowledgeable in a certain market. What does it mean if there is something in this market I haven’t heard of? Very simple. It means it doesn’t exist. Because if even I — as an expert — haven’t heard of it, probably almost no one else has. Which means it doesn’t exist.
I can think of a dozen examples in the tech world only. People have invented something but haven’t marketed it extensively. Which means someone can come along and claim a world-first. Marketing is a blessing and a curse. See this as an opportunity for your plans as an entrepreneur and marketer.
- Have you done something really cool and innovative? Then don’t make small announcements. I know this can be hard because of the heavy resource constraints you may encounter as a small company. But still. Try to go all in!
- Have you got a product that — after extensive research — you found out someone else has done before you? It doesn’t matter. If you had to do research to find it, you know what that means. Exactly. It means, it doesn’t exist. Go ahead and sell it.
As a small company try to make announcements about your ideas as early as possible. Because your competitors will make announcements even before they have started working on something. You will still have time to work on it after you have made the announcement. But be honest, because good marketing is truth well told.
You have been working on it for quite a while already? Even better. Then you really have a lot to talk about.
Are you a large corporation? Then this approach may not be necessary for you. There are many companies like Apple that at least did not use to care about early announcements. They wait until competitor products are on the market and then make them better and more beautiful.
Both can be successful strategies depending on your position but remember there will always be multiple truths in marketing based on media distribution and reception.