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5 Valuable Marketing Lessons We’ve Learnt From Dragon’s Den

25 April 2022
by Force24

For 17 years, Dragon’s Den has been capturing the hearts of the nation, as entrepreneurs pitch for investment from five venture capitalists willing to exchange funds for equity.

Hundreds of successful deals have been made – from the Magic Whiteboard and Skinny Tan, to Mainstage Festivals and Levi Roots Reggae Reggae sauce. The common factor? Other than an exceptional pitch, a firm grasp on both the brand and the audience is evident amongst the show’s trailblazers.

A business isn’t a business until it has customers. And if we’ve learnt anything from renowned social media guru Steven Bartlett joining the Dragon’s Den line-up, it’s that marketing is playing an increasingly crucial role in cutting through the noise and getting your brand heard by the audience that matters.

So, with the 2022 series having drawn to a close this month, the boffins at Force24 decided to club together and talk about some of the valuable lessons – entertainment value aside – that savvy marketers can take from Dragon’s Den.

If you don’t want to hear the infamous words, ‘I’m out’, you should keep reading…

1. Personalisation is Key

In today’s consumer landscape, personalisation is essential in engaging consumers. This is something we’ve witnessed throughout multiple pitches that have taken the Den by storm – including customised illustrated book business, Wonderbly.

And this is no different when it comes to marketing. By providing prospects and customers with hyper-relevant comms that meet their of-the-moment interests, you can demonstrate trust and expertise – while driving sales in the process.

Marketers need to look beyond email, too. While a perfectly-crafted message could tick all the right boxes, where does the recipient go next? From landing pages to download forms, collateral needs to be equally relevant.

And with Force24’s powerful Genius Blocks functionality, you can build dynamic content that adapts to each contact with no complex coding or fuss!

2. Market Research Can Uncover Vital Clues

No matter whether your brand is mass or niche, B2B or B2C, satisfying the needs of customers is a vital function of marketing your product successfully. Yet, many budding entrepreneurs appear on Dragon’s Den with little to no plan on how to achieve this.

Market research – in relation to both your offering and your audience – can uncover significant details to help supercharge your strategy. From providing demographic and psychographic information, to revealing a ‘gap’ in the market to help shape your own niche, it’s a powerful tool that is often overlooked.

Crafting client personas will help you build a clearer picture of who you want to reach and how to adapt to their emotional and behavioural triggers. When used with audience segments – which group customers together based on distinct traits and/or characteristics – they can help build a truly comprehensive picture of how to reach your prospects and customers.

Force24 empowers marketers to create compelling and ultra-relevant content that your target market is starving for – rather than simply tolerate. By observing user behaviour and predictive analytics, the platform learns and adapts your campaign to each contact.

And with relevant, dynamic emails capable of driving 18x more revenue than broadcast email, learning more about your subscribers should be at the top of every marketing agenda.

3. Formulate a Strategy

Just like on Dragon’s Den, it’s no use pitching a product or service without a follow-up plan if your consumers don’t bite first time. Although the full pitch isn’t aired, entrepreneurs spend two hours trying to win the investors over before they come to a final decision – even then, they’re often still undecided.

Once you’re clued-up on your market research, you can begin to nurture them and build rapport with ultra-relevant comms, tailored specifically to them. Customers no longer want to simply be sold to, they require their needs to be listened to and accounted for, which means you might have to spend a little more time trying to convert your leads.

Awareness, consideration, and decision typically make up the buyer’s journey, so it’s important to communicate each area effectively. Using Journey Manager, you can carefully plan and automate multichannel campaigns, with a simple drag and drop functionality, in minutes.

4. Nail Your Sales Pitch

If Dragon’s Den has shown us anything, it’s that you need to have a killer pitch ready for when a sales opportunity arises. After all, the nurture sequence doesn’t last forever – at least you should hope it doesn’t!

Of course, the specifics will differ from one organisation to the next, but the core elements of a standout pitch are:

  • Identifying a problem: First and foremost, it’s important to understand which issues your prospect is facing, so you can add real value.

  • Offering a valuable solution: Establish exactly why your offering eliminates the problem that has been identified, to show that it is needed.

  • Explaining what sets you apart: What makes you different? Let prospects know what makes you special and how you can help them boost their ROI.

  • Showing real-life examples: Back your argument up with case studies and testimonials from long-standing clients in similar situations. If you can provide direct contacts details for the customers to explore themselves, that’s even better! It builds trust by showing that the words will come direct from the source, too.

  • Presenting a clear call to action: The follow-up is one of the most important elements of a sales pitch, enabling both you and your prospect to gain closure on a deal. While your leads are hot and your preposition is fresh in their minds, pass them straight over to the sales team, so they can work their magic.

5. Mistakes Are There To Be Learnt From  

From overestimating the value of a company, to forgetting crucial numbers and failing to safeguard business assets, Dragon’s Den has seen plenty of rookie mistakes over the years. While these often come at the cost of losing investment, the key thing is to learn from them and move forwards. The help and advice of an expert comes second-to-none.

From price pains and service sufferings, it’s easy when, like us, you’ve seen it all before. That’s why we’re on hand to help identify and overcome hindrances. By identifying drop-out points in your marketing strategy, for example, we can create watertight strategies to capture, retarget, and nurture crucial leads until they’re ready to convert.

And there you have it! If you’re seeking further support to help supercharge your marketing strategy, get in touch with the team by calling: 0845 272 5990, or emailing: info@force24.co.uk.

We can’t promise Deborah Meaden or Peter Jones will be on hand to deal with your enquiry – but having been running successfully for 12 years (and counting), you’re in safe hands with us

The crucial question is, which Dragon – past or present – is your favourite? Let us know on Instagram, LinkedIn, or Twitter!

Force24

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