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Introducing the new book Space Marketing: Competing in the new commercial space industry. This book is designed to provide an introduction to marketing through the lens of the space industry.
Foreward was written by David Meerman Scott, Wall Street Journal bestselling author of twelve books including Marketing the Moon.
The space industry is changing. Over 70 countries have entered the space race. Marketing will become critical as more companies compete for business, investors, and contracts. The Space Marketing book is an introduction to marketing tactics and strategies through the lens of space.
This book explores:
- Challenges of marketing within the space industry
- Understanding your audience and their problems
- Developing your brand
- Promoting your brand
- Marketing strategies and tactics
- Hiring a team
Throughout the book, I apply the chapter lesson to a fictitious rocket launch company to illustrate how to use that particular tool or strategy. This developing story makes it easier to understand the concept and see how it can be applied to your situation.
WHY THIS BOOK
How can you change the world if no one knows you exist?
Marketing is about making your ideas, products, and services known. Call it outreach, public affairs, conversation, or promotion – these are all facets of marketing.
Five Reasons for this book:
- Promote space.
- Help space companies thrive.
- Space business model is changing.
- Generate excitement and spur education.
- Promote the understanding of marketing strategies and tactics through the lens of space.
1 – Promoting space
How many people think about space and understand what is occurring right above our heads? The quote “out of sight, out of mind” is a major concern for the relationship between the public and their reliance on space. People make decisions about the future of space when they vote, support an idea or ideology, or buy a product. If space concerns are not top-of-mind, it will not have the support it needs to thrive.
Space needs to be marketed unless we want the next 50 years to be like the last. (…and that would be a very bad thing!)
2 – Help space companies thrive.
Space is hard. Many space companies focus only on their creations. It takes a lot of focus to make it out of Earth’s gravitational pull. Marketing is not a priority in many companies. Up until recently, you had one customer to woo – the U.S. government. This will not be the case in the near future.
3 – The business model is changing.
Since the 2015 SPACE Act opened the doors for commercial companies, the space sector has exploded with activity. There are thousands of new players. As of 2018 data, over 72 countries have launched new governmental space agencies. As a result, unprecedented competition levels grow as countries ramp up their programs and the cost for entry into the industry reduces. Subsequently, Many of the space industry professionals have not had to maneuver in these waters before now.
NASA’s not the only game in town anymore. ESA, India, Israel, China, United Arab Emirates, and many other countries are going into space. Therefore, it is going to get even more competitive as these counties pour funds into their space programs and their country’s businesses as they reach for a piece of this powerful industry. Marketing will become a necessity if you want to run in the space race.
4 – Generate excitement and spur educational initiatives.
More students need to participate in Science, Technology, Engineering, and Math (STEM) programs. STEAM programs add an A for the Arts component. Creativity is a necessary skill for solving the complex problems involved with leaving the planet and living beyond the atmosphere.
Schools face many challenges that consume their focus. One of these challenges is the engagement of their students. I personally witnessed aerospace classes replaced with hip-hop classes in an effort to engage these students. Most importantly, marketing initiatives have the power to get students excited about STEM/STEAM careers.
We need to encourage the next generation to pursue STEM/STEAM careers. In order to make this happen, they need to KNOW it exists first. Marketing is critical for generating this awareness.
5 – Promote the understanding of marketing strategies and tactics through the lens of space.
What does shampoo, board games, or soup have to do with rockets or Moon landers? Certainly, space is different than your regular product or service in many ways. NASA has been so successful at marketing that we are almost unaware that it is happening. This book uses space-focused companies as examples to demonstrates successful marketing tactics and principles within the space industry.