Some of my favorite marketing authors are Jack Trout and Al Ries, the writing team behind The 22 Immutable Laws of Marketing. Trout and Ries are marketing strategists whose work is simple and straightforward to understand and implement. In this book, they cover 22 laws that can help business owners change their perspective about their marketing practices.
While there’s value in all 22 of the marketing laws they mentioned, I have a few favorites that are particularly useful to the clients I work with. Here are 8 of the marketing best practices that the authors discuss.
8 New Marketing Practices to Consider
- The Law of the Mind: “It’s better to be first in the mind than to be first in the marketplace.” Think about it: when you think of smartphones, the iPhone immediately comes to mind. While it wasn’t the first smartphone ever created, Apple has managed to cement its position at the forefront of consumer perception.
- The Law of Perception: “Marketing is not a battle of products, it’s a battle of perceptions.” When it comes down to marketing best practices, it’s not about being the best. It’s about being perceived as the best. Is Kleenex really better than other facial tissues on the market? Or is it just perceived as such due to brand recognition?
- The Law of Focus: “The most powerful concept in marketing is owning a word in the prospect’s mind.” To put it simply, you know you’ve reached success when the name of your company immediately conjures an image of your product or service in your customers’ minds, and vice versa.
- The Law of Exclusivity: “Two companies cannot own the same word in the prospect’s mind.” On the same note, only one company will call this word to mind. For example, when you think of the word “soda,” there will always be one brand that comes to your mind first. Two brands cannot come to mind at the exact same time.
- The Law of Duality: “In the long run, every market becomes a two-horse race.” If you think about it, most product types come down to two big names: Coke and Pepsi, Apple and Samsung, McDonald’s, and Burger King. Your marketing best practices should prepare you to deal with a significant competitor.
- The Law of the Opposite: “If you are shooting for second place, your strategy is determined by the leader.” In order to overcome a competitor in the first place position, you need to look to their weak points and target your marketing best practices accordingly.
- The Law of Success: “Success often leads to arrogance and arrogance to failure.” People who are successful tend to get cocky, which compromises their ability to be objective. Once you lose objectivity, you lose sight of your strategy. Avoid this at all costs by remaining humble and consulting multiple parties before making key decisions.
- The Law of Resources: “Without adequate funding, an idea won’t get off the ground.” In order to reach your goals, you need to spend money. If you don’t have a marketing budget, all the ideas in the world won’t cement your product in the minds of your customers.
If you integrate these marketing best practices into your business strategy, they can open doors you didn’t even know existed. A business coach can help you find a way to implement them. Fill out my contact form for a complimentary coaching session to discuss a marketing strategy for your small business.