Chapter 1: The Unlikely Beginning

Have you ever wondered what bright yellow product was invented by chance and sells over 50 billion units annually?

This may sound like a marketing riddle, but it's actually the story of an incredible brand. Good afternoon, aspiring marketers! Today’s discussion centers on a product that transformed global communication, and it’s not the iPhone.

Let’s rewind to the 1970s. Spencer Silver, a scientist at 3M (Minnesota Mining and Manufacturing Company), was deeply engaged in adhesive research when he made an unexpected discovery: a unique adhesive that could adhere to various surfaces without creating a strong bond. Surprisingly, this remarkable invention was initially overlooked.

Spencer was primarily focused on developing stronger adhesives that could hold firmly to surfaces, so the idea of creating something easily removable didn’t pique his interest. However, one day, his colleague Art Fry expressed frustration about the small paper scraps he used to mark hymns in his church hymnal, which would often fall out.

What if there were a way to bookmark hymns without damaging the delicate pages? AHA! Spencer's removable adhesive was the perfect solution!

Creativity isn’t limited to the artistic aspects of marketing; it permeates every component of your market strategy. From product sourcing to addressing customer pain points, creativity is essential throughout the process.

Silver and Fry collaborated, testing their product at 3M headquarters. They distributed sticky notes to employees, encouraging them to use the product without much guidance, simply observing how it was utilized.

In a matter of weeks, they realized that employees weren’t primarily using the notes to mark pages in books or memos; instead, they were being used for quick communications between colleagues. It’s impressive that two scientists were able to identify product-market fit before heavily investing in the product!

By initially introducing the product to 3M employees, they garnered critical feedback that refined their marketing approach. This also encouraged the scientists to keep the consumer's perspective in mind. Often, companies design and market products for their own accolades rather than focusing on how they can benefit customers.

It's crucial to listen to your customers, even if they haven’t purchased from you yet but fit your target demographic.

With newfound confidence, the duo decided to launch the product in four cities under the name Press 'n Peel. However, the response was underwhelming, leading 3M to withdraw the product from the market.

Silver and Fry believed in their invention and sought alternative methods to promote it. They revisited the idea of offering free samples, executing a large sampling initiative dubbed the "Boise Blitz."

By targeting executives and their assistants, they found remarkable success, with 90% of businesses reordering after receiving samples. This approach mirrored today’s freemium models in the SaaS industry, allowing consumers to experience the efficiency of their product firsthand, effectively removing any buyer hesitation.

Furthermore, leveraging consumer psychology is beneficial; when a brand goes the extra mile, customers often feel inclined to reciprocate—leading to purchases and brand loyalty.

In 1980, they officially rebranded the product as "Post-it Notes," and it quickly became a sensation.

Post-it Notes are now a staple in offices; no workspace feels complete without them. As of 2016, 3M produces and sells over 50 billion Post-it Notes each year, and the official Post-it Note app boasts a 4.7-star rating with more than 10,000 reviews on the Apple App Store. Those small pieces of paper have turned into a lucrative venture.

And one more thing: when you think of Post-it Notes, what color comes to mind? Yellow, right? This is the result of effective branding and alignment. Yellow is also associated with creativity and innovation—qualities that align perfectly with the use of Post-it Notes for brainstorming and idea sharing!

It's the little details that distinguish the best brands from the rest.

The first video titled "Don't Make This Billion Dollar Mistake" delves into common pitfalls in entrepreneurship, emphasizing the importance of strategic decisions that can impact success.

In the second video, "Richard Gross - Fixing the Billion Dollar Mistake," insights are shared on overcoming major business blunders, providing valuable lessons for entrepreneurs.