Observing marketing is revealing, and often what I see are the glaring oversights coaches make when striving for greater results. In times when markets are so heavily populated by ‘tactics’, I wanted to jog your memory to some of the proven strategies that long term successful marketers use.
Now, I’m not saying your Coach hasn’t considered these, but it’s best if you know them and have them front of mind when they put forward their next piece of advice.
I want to mention, these are age old wisdoms, they aren’t my ‘thoughts’, they are numbers to the combination lock in winning the war on marketing.
Let’s jump right in…
1. New Opportunities Are Most Appealing
A lot of marketers try to ‘improve’ things, instead of being first. And while everything deserves improving, when it comes to marketing, being number one always attracts more quickly and easily than an upgrade.
We’re hungry animals, always searching for the next big breakthrough, and most often that win comes from something you’ve never seen before…therefore bringing something completely new to market is a great way to draw attention and reposition your business as a leader.
In fact, this is the game of marketing at its most basic. Be first, become the category, own the market.
After all, nobody remembers who came in second.
People see the first place holder as superior and with that, they receive the lion’s share of the takings. Marketing is a battle of perception, not products.
2. Invent Your Own Market So You Can Win
With #1 in mind, if you can’t be the first to market, you MUST differentiate yourself enough from what’s there now, so as you become first.
Niching down, taking a different angle, reworking public perception…if you aren’t the market leader, you must create your own market.
Take one of my current clients, BreedElite, they operate in the farming industry and sell machines that are similar, not the same, as other brands in the farming industry.
Their past competitors were big brands, brands they couldn’t compete with…
But we were able to find a small niche category that they could own, and by selling specifically to one segment of the ‘bigger’ farming market, they have now become the #1 in that segment.
With some strategic messaging and by flooding that segment with their brand story, they have quickly set themselves apart and are overcoming the big brand domination, growing numbers each month.
3. Own Space In Your Prospects Mind
When you come to mind first, you win. This is an even stronger position than being first to market.
If the market is thinking your name, they’ll step past first to get to you…and you can’t change someone’s mind once it’s made up.
This is where I see a lot of wastage in dollars spent on ads. If you’re trying to change the minds of buyers, I hope you have deep pockets.
You must own space in your prospects minds, and the best way to do that is by being simple. No long, fancy names. Keep it short, keep it simple…and make it stick.
The word/name/phrase you use needs to be easy to remember.
It needs to say it all.
It needs to be short.
It needs to stand for something.
And it needs to stay in the prospects mind.
Remember, possession is nine-tenths of the law. And owning space in your prospects mind is the most valuable real-estate you’ll ever own.
There’s a second part to this…
The trick is to get your name/word/phase to ‘stand for’ your product/service. Just like Volvo stands for safety, BreedElite stands for breeding elite sheep.
The aim is to have the market using your name as the standard way to describe the outcome they desire.
“I want to Breed Elite.”
Once this is achieved, you win…because no two businesses can own the same name/word/phrase.
And be careful you’re not trying to own a name/word/phrase that someone else already owns.
4. There’s Only One Winner, And A Second Place
If you’re coming in third, you need to think through your next move, because it could be your last.
The third place in any market survives on scraps…while the top two businesses in any market fight over the majority.
Sometimes a third place will knock a second tier player off its perch, but then it becomes a two-way battle. Expect war.
Leaders normally dominate earnings, as I mentioned earlier, but over time, this will eventually even out, if you can hang in there long enough.
Just don’t be third, as they’re the ones that eventually fade away completely.
5. There’s Always An Opportunity To Grow
In strength, there’s weakness and if behind the pack, your main aim is to find that weakness, not play catch up.
Again, this is where I see waste…people playing scared, trying to ‘just make it through’ instead of finding the hole and dominating in a new way.
There’s always opportunity, an opposite angle to take. Researching the leaders in your market will point this out.
It’s often an easy move. Seeing what others do well leaves glaring holes, if you have your eyes open.
This is also how you see markets divide into sub-categories.
A ‘C or D’ player will spot an opportunity and create a new offering, that not only provides a solution, but creates a whole new industry within an industry.
This is available in all markets if you look hard enough.
And again, if you become the leader of the sub-category, you win big and have the greater opportunity to own generations of business.
6. Play The Long Game
To own a market, to own space in your prospects/buyers minds, to find that niche segment your company can own, to dominate…all takes time.
There are very few overnight superstars, and when they come, they often don’t last.
Business is a game of staying the course.
This is a key theme I Mentor on.
In 18 years of marketing, I’ve seen so many come and go, but the one’s I see still in this field are building true wealth and they’re stable.
They’ve gone through the hard times, practising everything I’m mentioning here, they’ve found their slice, and they’re nurturing it, by staying aware, staying nimble…and staying the course.
And I advise you to take the same long-term approach.
You may have an overnight win, as often tactics deliver, but in the end, strategy plays out strongly over the long term.
Find your one clear path…
Stay the course…
And get the help you need to be here for tomorrow.
This has been Part-1 of “Marketing Basics Your Coach May Have Overlooked” and I hope you catch Part 2.
Until then, if you need a hand finding your one clear path, check out: www.JamesKlobasa.com/GoPremium
I hope to meet you soon…