Unfortunately I see too many Financial Advisers wasting too much money every year on marketing that was never going to attract the right clients for them. To avoid the mistakes being made, you need to know the rules when it comes to effective marketing so you don’t waste your time and money. Whatever marketing you undertaken be it online or offline, it needs to attract the right clients!
Ries & Trout wrote a book years ago called “The 22 Immutable Laws of Marketing” and the majority of them are excellent principles to base your marketing on. Below are just some that are relevant for your business today.The law of leadership – It’s better to be first than it is to be better – the leading brand in any category is almost always the first brand into a potential clients mind -it’s the one they remember.
The law of perception – marketing is not a battle of products, its a battle of perceptions. There are no ‘facts’ and there are no best products. All that exists in marketing are perceptions in the minds of the potential client.
The law of leadership – it’s better to be first than it is to be better – the leading brand in any category is almost always the first brand into the potential clients mind – is your brand memorable?
The law of focus – the most powerful concept in marketing is owning a word in the potential clients mind – Federal Express was able to put the word overnight into the minds of its prospects. Volvo means safety……..what word does your business own?
The law of the opposite – if you’re shooting for second place, your strategy is determined by the leader – don’t try to be better, aim to be different.
The law of singularity – in each situation, only one move will produce substantial results – to find that singular idea or concept, marketers have to know whats happening in the marketplace.
The law of success – success often leads to arrogance and arrogance to failure – when people become successful, they tend to become less objective and substitute their own judgement for what the market wants.
The law of resources – without adequate funding an idea won’t get off the ground – Steve Jobs and Steve Wozniak had a great idea, but it was Mike Markkula’s $91,000 that put Apple on the map.