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There are two ways to grow a business. You can jump on a wave that already exists and ride it, or you can create the wave yourself.
There is no right or wrong approach. Successful businesses have been built both ways. You can even do both at different stages of your business. But from a marketing perspective, these are two very different strategies. Understanding which one you’re pursuing matters because the investment, messaging, timeline, and expectations will be different.
Riding the Wave: Working With Existing Demand
Sometimes there is already a wave happening in your industry. Customers are looking for a particular service. A new technology is changing how people work. Consumer behaviour is shifting. A new problem has emerged and businesses are looking for solutions. There is already demand. If that demand aligns with what your company does well, there can be a great opportunity to jump on the wave and maximize it.
Marketing in this situation is often more straightforward because you don’t have to spend as much time convincing people that they have a problem. They already know. Your job is to show them why your company is a good choice to solve it.
But there are trade-offs.
If you’re constantly jumping from one wave to another, you can lose your direction. Trends change. Some disappear almost as quickly as they appeared. There is also the temptation to chase something simply because there seems to be money in it. Before changing direction, ask whether the opportunity actually fits your company’s expertise, capacity and strengths. Because ultimately, a wave can bring customers to you, but it can’t make you good at what you do. Your ability to provide quality, value and results is still what determines whether the opportunity becomes sustainable growth.
Creating the Wave: Building Demand
Then there is another way. You have an idea. You see something other people don’t see yet. You want to create a new service, product, category or way of solving a problem. Creating your own wave can be exciting. You’re not simply following what everyone else is doing. You’re building something based on your own expertise and ideas.
But there is one important marketing difference: You may have to create the demand before you can capture it.
Your customers might not be searching for what you’re selling because they don’t know it exists yet. They might not even realize they have the problem you’re solving. That’s why creating a wave usually requires much more educational marketing and demand generation. Instead of saying, “Here’s our solution,” you may first have to explain the problem. You have to educate the market. Create interest. Explain your thinking. Demonstrate why this new approach matters. Help customers understand why they should change what they’re currently doing. And that takes time.
Creating a Wave Usually Costs More
This is something businesses sometimes underestimate. A new idea can feel exciting internally. You understand it. Your team understands it. You’ve spent months (or maybe years) thinking about it. Your customers haven’t. You may need to invest significantly more into content, advertising, education, thought leadership and brand awareness before that idea starts generating consistent demand. If you’re truly creating something new, you’re also taking on the role of a pioneer. You’re investing in developing the market itself. And if you’re successful, something interesting may happen: other businesses will eventually jump on the wave you created. That’s the trade-off of being first.
Three Things to Consider Before Choosing Your Direction
Whether you’re jumping on an existing wave or trying to create one, there are three things we recommend keeping in mind.
1. Capacity
- Does this direction fit your company’s actual strengths, expertise and interests?
- Can you deliver excellent work and create meaningful results for customers?
- Marketing can generate attention and leads, but the business still needs the capacity to deliver on the promise.
2. Resources
- Do you have the financial resources and time required to pursue this direction properly?
- Creating demand usually requires more patience and investment than capturing demand that already exists.
- Even riding an existing wave requires investment if you want to build enough visibility to benefit from it.
3. KPIs
- Stay close to the numbers.
- Whichever direction you choose, track whether the strategy is actually working.
- Are people interested? Are they engaging? Are leads coming in? Are those leads converting? Are customers staying? Is the business making money from this direction?
Sometimes you will need to adjust the strategy. Sometimes you’ll need to change the messaging. And sometimes the numbers will tell you that it’s time to find another wave.
Know Which Wave You’re On
Marketing becomes much clearer when you understand what you’re actually trying to accomplish. Are you entering a market where people are already actively looking for what you offer? Or are you introducing something new and asking the market to think differently? Both can work. But don’t expect a demand-generation strategy to perform like a lead-generation campaign. And don’t spend years trying to educate a market when there is already strong demand you could be capturing. Know which wave you’re on. Then build your marketing strategy accordingly.