Saying hello from the very exciting city of Berlin when I visited a start-up as a sparring partner for marketing questions.
So here are the 3 things I learned that can be excellent marketing tips for Insurtech and Insurance Start-Ups.
First, INNOVATIVE CORE BUSINESS DOES NOT PREVENT OLD SCHOOL MARKETING.
A lot of smart marketing minds in the room and they started with a lot of traditional marketing strategy and ideas – not so much about the sharing contents and especially delivering extra values to the customers.
This is a contrast to a lot of traditional companies practicing traditional marketing management – that they always considered to be still effective these days. They’ve always done things in that way and they already knew the solutions – what they needed was “a little kick from the outside”.
Second, DON’T OVER ENGINEER YOUR PRODUCT AND FORGET TO MARKET IT. BEGIN AS SOON AS POSSIBLE TO COMMUNICATE TO YOUR TARGET GROUP.
They’ve become over occupied with the business operational tasks resulting in not really investing time for out of the box issues and innovate to out of the box solutions – “Spending Time is Always a Good Move”.
Third, AS A CORPORATE START-UP, LEVERAGE EXPERTISE AND KNOWLEDGE IS THE MOTHER OF THE SHIP.
Starters are part of larger holding companies. I think it was a very very smart move to have leverage with these expert portfolio companies with their respective expertise and not just depend on their own employees.
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