Archive for '22 Fundamental Laws of Marketing'
Posted on 07. Sep, 2011 by 7Figure Sam.
The Fitness Marketing law of the ladder basically implies there is more than one step inside the prospect’s mind. Better yet, there’s more than one available spot. I realize this contradicts some of what has already been said in previous articles, but keep reading and you will see what I mean. As a fitness entrepreneur you can’t just give up your market share because you’re not in the first spot in the prospect’s mind. Sometimes being number two or three in the prospect’s mind isn’t such a bad thing. Picture the steps on a ladder. You need to get into your attic and can’t without the use of a ladder. You climb on up but actually don’t need to use the top step in order to climb inside. This is the same strategy with the law of the ladder and marketing your product. You always want to do your best to be first in the prospect’s mind, but that doesn’t mean being second or third isn’t profitable. Example: Hertz Rent a Car was the first car rental place to land in the prospect’s mind and it’s the largest car rental company with more than 8,500 locations. When you […]
Posted on 31. Aug, 2011 by 7Figure Sam.
The Fitness Marketing law of exclusivity states two businesses cannot own the same word in the mind of their prospects. Trying to change this philosophy or your prospect’s mind will not work. I’ve mentioned this in the previous chapters; once your prospect’s mind is made up it is difficult to change. I spoke about Volvo owing the word “safety”. Mercedes Benz tried to surpass Volvo using the same word and ran marketing campaigns in an effort to do so and failed. Bottom line; Volvo was the first in the prospect’s mind to own the word safety and therefore that’s what the prospect remembers; Volvo and safety. I have for years marketed myself as “Chino/Chino Hills Fitness Expert”. It seems like everyone and their grandmother has tried to take that title from me but guess what?? Too late I was the first in the prospect’s mind. The story of Atari shows their hopeless attempt to move in on home computers instead of sticking to gaming systems. As mentioned previously, IBM and Apple already owned this position. What Atari could have done was vary the word to “computer gaming” and they would have had a better chance. But they broke the law […]
Posted on 30. Aug, 2011 by 7Figure Sam.
When you hear the name Fed Ex, what do you think? Overnight delivery? What about when someone mentions a chocolate bar? You think Hershey’s. These are two large companies who used the powerful Law of Focus by finding one word they own in the prospect’s mind. Neither of these words is difficult and aren’t fictitious. They are simple words taken straight from the dictionary that prospect’s will have an easy time remembering. The law of focus states you find your way into the prospect’s mind by narrowing the focus to a single word or concept. As a fitness business owner you may be inclined to brag about your business and everything you have to offer but companies like Fed Ex are known world-wide because of the one word they landed in the prospect’s mind, overnight. When a consumer needs to ship a product quickly or overnight who do they think of? Fed Ex offers many other services, but they made the ultimate marketing sacrifice by focusing on one component, overnight package delivery. They used the most powerful concept of marketing; owning a word in the prospect’s mind. If you reflect back to the law of leadership (it’s better to be […]
Posted on 29. Aug, 2011 by 7Figure Sam.
Ma fitness business owners think the fitness marketing battle is between products and that in the long haul the best product will win. They preoccupy their research with finding facts and analyze it enough to ensure they will gain the prospect’s trust. Once they are confident their product is the best they enter into the marketing arena thinking they will win. The problem with this theory is that it’s a form of illusion. In reality there are no best products. What exist in the world of marketing are perceptions in the mind of the prospect and that perception is the reality. If you think about it, truth is relative to your mind or the mind of another person. When debating over a specific topic, one person is perceived correct and one wrong. It’s not that either one of the individuals is right or wrong. It’s the perception of each individual. And each person believes he is right because they possess a personal truth. They feel their perception is more accurate than the other person’s. Reality is about perceptions and this is the reality entrepreneurs must work with. This concept seems unfair but it is a fundamental concept of fitness marketing […]
Posted on 27. Aug, 2011 by 7Figure Sam.
The rule of thumb with this Fitness Marketing law is to get into your prospect’s mind first. The first fitness marketing law, Law of Leadership, states one must be first in the marketplace. Does this mean the Law of the Mind cancels leadership? Not at all; It modifies it by saying it is better to be first in the prospect’s mind than it is to be first in the marketplace. Being first in the mind is the difference between marketing success and marketing failure. Being first in the marketplace is important, but to the extent that it allows you to get in the mind first. The biggest waste of time in fitness marketing or any kind of marketing is trying to change the prospect’s mind. Information on a blog or website can be changed easily by typing over it or deleting the existing content but changing something in the prospect’s mind rarely happens. Many entrepreneurs stumble over this law because they create what appears to be an awesome product and feel it will be a hit in the industry only to discover the opposite when the product fails because they did not get the idea or concept into the prospect’s […]