All progress in the world has come from the scientific method. From the discovery of fire to the development of vaccines, science has been the driving force behind human progress.
For years, marketers relied heavily on their intuition to make decisions. In a data-driven world, this approach is no longer sufficient. Today’s marketers need to think scientifically to implement successful marketing strategies and make better predictions & decisions.
In this article we will answer the following questions:
- What is the scientific method of thinking?
- Why marketers should think like scientists?
- Case Study: The New Coke launch debacle
- How can marketers think like scientists?
- Examples of Scientific Thinking for Multifamily Marketers
Let’s begin by understanding what is meant by scientific thinking.
What Is a Scientific Method of Thinking?
Meet Sarah, a multifamily marketer who has her property listed on two ILSs, let’s call them A & B. However, she Observed & Identified a Problem in their current ILS investments. The ILSs were not getting enough leases despite generating a significant number of leads.
So she must figure out which ILS is working best. She has three options to do so:
- Ask her boss.
- Take her colleagues’ opinions.
- Ignore the boss and conduct an A/B test!
If you were in place of Sarah, what option would you go with?
Did we hear ‘3’? Congratulations! You are a scientific marketer. Let’s see what Sarah chooses and why.