Archive for '22 Fundamental Laws of Marketing'
Posted on 28. Nov, 2011 by 7Figure Sam.
The Fitness market is ever changing and to predict where it might be in three to five years is nearly impossible. In fact, how often do you hear, “It’s impossible to predict the future”? The thing is, as entrepreneurs, we still try. Where companies make mistakes is in developing long-term plans and then get nailed by the competition with the unexpected. Failure to anticipate competitive strategy is a big reason for marketing failures. IBM faced this years ago when they developed a marketing plan to connect all personal computers to a mainframe. IBM called the project, Office Vision. It was a great idea but wasn’t successful because of competitors like Microsoft. IBM developed a great plan but didn’t anticipate the unexpected from the competition. In addition to being unpredictable, companies tend to get caught up in numbers and those who live by numbers only, tend to die by numbers. It’s like living paycheck to paycheck; it’s a recipe for disaster. You have to look at everything and plan short term and long term goals and anticipate the unpredictable. Developing smart short term plans means coming up with that concept or idea that differentiates you from the competitor. Then establish […]
Posted on 10. Nov, 2011 by 7Figure Sam.
The Fitness Marketing law of singularity means there’s only one move for every situation that produces considerable results. This law coincides with the concept of being first in the prospect’s mind. That is always the goal, to be first. But, sometimes entrepreneurs cannot be the leader and become impatient so they try harder to beat the competition and end up using the same strategy, which can end in failure. The history of marketing has shown there’s only one move, a single, bold strike that works in producing remarkable results. Competitors always have a weak point, a vulnerable place, and this is the focal point of your single, bold strike. I’m not saying to fight and hit below the belt, but what brings on substantial results is striking the competition with the unexpected. The military uses these tactics and has received substantial results. Think about when Japan attacked Pearl Harbor. No one was expecting it or saw it coming and in one, single, bold strike Pearl Harbor was under siege with the U.S. military scrambling to fight back and save lives. Successful military commanders study the battleground looking for the enemy’s weak spot and then strike with one bold […]
Posted on 02. Nov, 2011 by 7Figure Sam.
Fitness Marketing Law of Candor- Is being honest and admitting the negative a smart business strategy? According to the law of candor it is. I often say you have to be transparent in the fitness industry if you want to be successful. People know and understand that everyone is not perfect. Don’t be afraid to be candid and admit something negative about your business. The key is to then take the negative and change it into a positive. In the Fitness Marketing law of the ladder I spoke about Avis rent-a-car being number two and they candidly admitted it, using their position to gain market share. Remember their slogan, “We are No. 2, we try harder”? Their strategy of admittance helped them become the second largest in the car rental business for many years. When a fitness business practices candor it gives the prospect a feeling of honesty and trust. After all, who would lie about something negative in their business? You see once you make a negative statement about you; it is automatically accepted as being the truth. With truth comes trust and building trust with your prospects is very important. In the fitness business we deal […]
Posted on 26. Oct, 2011 by 7Figure Sam.
The Fitness Marketing law of attributes reminds me of the law of exclusivity and the law of the opposite. Almost in every law I discuss how important it is to be first in the prospect’s mind and that you must own a word that is solely yours, like Coca-Cola owns classic and the real thing and Volvo owns safety. The Fitness Marketing law of exclusivity states you can’t own the same position or word of your competitor and the law of the opposite states to use your competitors brand or word and do the opposite by creating your own word in the prospect’s mind. The Fitness Marketing law of attributes is similar to this philosophy. Often times, entrepreneurs try to emulate the leading brand and end up failing. With the law of attributes you search for an attribute opposite of the leader to play against; having similarity just won’t work. Fitness Marketing is a fight against different ideas and to be successful, you need your own attributes for your product or service. If not, then your focus better be on low pricing so it appeals to the prospect. Keep in mind, all attributes are not created equal and what […]
Posted on 22. Oct, 2011 by 7Figure Sam.
Fitness Marketing Law #13 – The Law of Sacrifice – it’s something that takes place in our personal lives and in business. It could be a sacrifice of money, time, wants, or needs. Each one us of could come up with a huge list of sacrifices we’ve either heard of or done ourselves. Sacrifice is a big part of being a successful entrepreneur. Sometimes you have to let things go in order to reach success. The word sacrifice makes you “think” about what is necessary for your business. It makes you “think” instead of rushing into an expansion or something new that could possibly fail. There are three elements in the law of sacrifice: product, target audience, and change. Fitness Marketing – The law of sacrifice means learning to say NO to certain opportunities, which isn’t easy. We are taught opportunities are good and should seek all we can, but being a successful entrepreneur also requires learning to say NO. Many entrepreneurs have learned the hard way by saying yes instead of no. I was one of them when I opened Anytime Fitness in Riverside, CA. I learned a valuable lesson from saying yes and expanding my product line. […]