The Marketing vs. Product Development Dilemma: Which Comes First?

Rob Anspach recently shared an insightful post that sparked an important debate among entrepreneurs, marketers, and product developers. He recounted an interaction with a new client who needed capital for a product they were developing. Rob suggested creating the marketing first to attract interested investors, but the client pushed back, insisting that the product must be fully developed before any marketing could begin. Rob argued that pre-marketing not only helps sell a product better but also creates curiosity and positions it for greater success. This encounter underscores a classic debate: Should you market first or design the product first?

The Traditional Approach: Product First, Marketing Later
Many businesses still adhere to the traditional school of thought that the product must be completed before marketing efforts can start. This approach stems from a belief that the product’s value speaks for itself, and marketing serves merely as a tool to push the finished product into the hands of consumers. It’s a mindset deeply rooted in the manufacturing and retail industries, where product development cycles are often long, and marketing is seen as an afterthought.

Proponents of this approach argue that:

Proving Viability: They believe a fully developed product is necessary to demonstrate viability, functionality, and quality.
Focus on Product Perfection: This allows businesses to perfect their product without the added pressure of meeting market expectations created through marketing campaigns.
Minimizing Risk: Some think marketing before having a product could over-promise and under-deliver, leading to disappointed customers and potential damage to the brand.

The Modern Perspective: Market First, Product Second
On the other side of the spectrum lies the “market first” approach, a strategy that many modern entrepreneurs and startups favor. Rob Anspach’s viewpoint aligns with this school of thought. The essence of this approach is that marketing begins even before the product is fully developed, often at the concept stage. This strategy is frequently employed in tech startups, crowdfunding campaigns, and industries that thrive on innovation and speed to market.

Here’s why “market first” makes sense:

Validating the Idea: Pre-marketing serves as an effective way to gauge interest, validate concepts, and collect feedback. You’re essentially testing the market before investing heavily in development. This reduces the risk of creating a product that no one wants.
Creating Buzz and Anticipation: Marketing early creates buzz, anticipation, and curiosity, which can lead to a strong initial launch. When potential customers or investors are already interested, they are more likely to engage once the product is available.
Securing Funding and Partners: A compelling marketing campaign can attract investors, partners, and early adopters, securing the necessary resources to bring the product to life. By demonstrating demand, businesses can often secure funding more easily.
Adjusting Based on Feedback: Marketing first allows you to collect valuable feedback from potential customers, enabling you to tweak and refine your product based on actual market needs rather than assumptions.

The Hybrid Approach: A Balance of Both Worlds
While the debate often seems like a choice between two extremes, there’s a middle ground that many successful companies adopt—a hybrid approach. This involves developing a minimum viable product (MVP) or prototype that’s good enough to demonstrate the core concept while simultaneously beginning to market it.

This approach provides the benefits of both schools of thought:

You have a tangible product that shows potential customers or investors what you’re about.
You can start creating excitement and validating the market simultaneously.
It allows room for adjustments, incorporating feedback as you refine the final product.

So, What School of Thought Are You?
The decision on whether to market first or design the product first often depends on your industry, product type, and risk tolerance. However, the modern trend leans toward marketing early, especially in today’s digital age, where information flows quickly and consumer feedback is more accessible than ever.

Questions to Consider:

Are you willing to gather and act on feedback during the development stage?
Do you have the marketing skills or resources to create a compelling pre-launch strategy?
How much risk are you willing to take in marketing a product that isn’t fully developed yet?

Conclusion
The real key is understanding your market, your product, and your strategy. There is no one-size-fits-all answer, but if there’s anything to learn from Rob Anspach’s approach, it’s that early marketing isn’t just about selling; it’s about creating a conversation, building excitement, and positioning your product for success even before it hits the market.

So, are you a “market first” advocate, or do you prefer to perfect the product before sharing it with the world? The choice might just determine how fast your idea turns into a reality.