As with anything, there are certain laws that govern the way you can successfully market your business. The businesses that are successful follow these rules, while the businesses that fail, forget to follow them.
There are many more than 5 laws that govern how successful marketing works. Perhaps I’ll share more of them with you in the future.
But for today let’s get started with the 5 most important laws of marketing that every business should know.
The 5 Most Important Laws of Marketing every Business Should Know:
- It is more important to be first in the customer's mind than it is to be first in the marketplace. If you need to blow your nose you probably ask for a Kleenex, rather than a facial tissue. You also probably think of Coke before Pepsi when thinking about sodas even though Pepsi consistently outperforms it in blind taste tests. It is much more important that you are the company thought of first in your industry rather than being the first one into the marketplace.
- Marketing is all about perception. One of the biggest mistakes business owners make is assuming that if they have the best product the world will beat a path to their door. Instead of focusing “the facts” you need to focus on how you make your prospects feel and think about your product. By creating the right perception of the product you will be able to compel your prospects to desire your product and they will sell themselves, making your job much easier.
- Narrow Your Focus. Another major mistake companies make is trying to be all things to all people. The more you narrow your focus, the more `successful you will be at finding and selling your prospects. You want to focus on the benefits to your prospects that you provide and get as specific as possible. For example if you ran a dog training business instead of trying to sell training for every kind of dog you could focus specifically on training for Husky puppies under the age of 2. This focusing will make it easier for the prospect to associate you as the authority for your niche.
- Keep an eye on the long-term results of your marketing campaigns. In a lot of cases what is successful in the short term can actually harm your business in the long-term. For example running consistent sales may generate more income, but it teaches your customers to never pay full price. Think of your business as a brand and make decisions that are good for the long-term future of the brand.
- The Blemishing Effect. The blemishing effect states that when a little negative information is presented about something along with the positive the thing is actually considered more attractive than if it was only painted in a positive light. A little bit of honesty in your marketing goes a long why, because it refreshing, honest and unexpected. You can use this to your benefit by presenting some negative information and turning it into a positive.
There are more rules to marketing you’ll need to learn later, but for now these 5 laws are enough to help you start to see a massive return on your marketing investment!