Think of a cheap and expensive idea for a product launch involves finding ways to scale your launch strategies to match the available budget while achieving maximum impact. Here’s how it works. Cheap Idea A low-budget approach focuses on creativity, leveraging existing resources, and maximising word-of-mouth. Dropbox avoided traditional advertising and instead incentivised users to invite friends by offering free storage space. Tactic: Referral program, a Viral Sensation. Impact: It went viral because the cost of “free space” was much lower than traditional marketing expenses. Dropbox grew to millions of users primarily through referrals. Dropbox was launched, and it introduced cloud technologies, which revolutionised file sharing at the time. For people to trust this revolution, they had to do their market research and know their target market and potential customers very well. Dropbox’s initial challenge was introducing a new product to a naturally skeptical target audience. They nee...
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