Whenever I think about very complex issues, I always start with the big simple drivers that affect everything else. That’s why with SEO, my ‘compass’ is satisfaction, because you get that right for both the user and the provider, everything else lines up towards success.
With that idea of thinking ‘top-down’, I came across a book which was recommended by Tim Ferris, famous for the four hour workweek.
He describes the 22 immutable laws marketing book as one of his five top books that he’s ever read. So, since I like Tim Ferris, I bought the book and it has been a minor epiphany.
Why? The book resonates with so many life experiences I’ve had about brands I’ve worked with and projects I’ve done. It helps simplify my thinking and therefore has helped me declutter my perspective on marketing.
Lesson 1: Be first on the market, or first in peoples’ heads.
Lesson 2: Avoid competition by coming up with your own product category and dominating that.
Lesson 3: Never forget that each product comes with a big opportunity cost. Focus is important.
The 22 laws.
The Law of…
1: Leadership: It’s better to be first than it is to be better.
2: Category: If you can’t be first in a category, setup a new category you can be first in.
3: The mind: It’s better to be first in the mind than to be first in the market place
4: Perception: Marketing is not a battle of products; it’s a battle of perceptions.
5: Focus: The most powerful concept in marketing is owning a word in the prospect’s mind.
6: Exclusivity: Two companies cannot own the same word in the prospect’s mind.
7: Ladder: The strategy to use dependent on which rung you occupy on the ladder.
8: Duality: In the long run, every market becomes a two-horse race.
9: The opposite: If you’re shooting for second place, your strategy is determined by the leader.
10: Division: Over time, a category will divide and become two or more categories.
11: Perspective: Marketing effects take place over an extended period of time.
12: Line Extension: There’s an irresistible pressure to extend the equity of the brand.
13: Sacrifice: You have to give up something in order to get something.
14: Attributes: For every attribute, there is an opposite, effective attribute.
15: Sandor: When you admit a negative, the prospect will give you a positive.
16: Singularity: In each situation, only one move will produce substantial results.
17: Unpredictability: Unless you write your competitors’ plans, you can’t predict the future.
18: Success: Success often leads to arrogance, and arrogance to failure.
19: Failure: Failure is to be expected and accepted.
20: Hype: The situation is often the opposite of the way it appears in the press.
21: Acceleration: Successful programs are not built on fads, they’re built on trends.
22: Resources: Without adequate funding an idea won’t get off the ground.