4 Laws of Marketing

April 28, 2009 by  Filed under: Marketing 

While there’s many laws of marketing, these four laws particularly apply to the home based market. And while they are very simple, I think the reason for failure among the home based market crowd is often a misunderstanding of one or all of these laws:

Law 1. It’s a numbers game.

Whoever markets to the most people usually wins. This one is tough for the rookie. They don’t know how to generate large numbers, so they end up wasting too much time on too few people. Better to invest time in additional marketing, social connecting, and advertising than waste time on that tired old list.

Law 2. Prospects buy on their time table, not yours.

Bummer. The game would be a lot easier if they would just buy the minute they see our offer! Unfortunately, research shows us that most people don’t buy until the seventh exposure to our product or service. One study of sales indicates that many phone sales aren’t made until the fifth call! So if you aren’t building a list, marketing consistently, and finding new and creative ways to give value to your prospects, you’re in trouble.

Law 3. When a prospect is ready to buy, they buy from the most convenient source.

This is particularly frustrating with warm market purchases. You would think those people that knew you best would know what you do and purchase from you when they are ready. Unfortunately, peoples attention spans are very short! So don’t be surprised to walk into your friends house and discover your competitors product on a shelf- if you haven’t been doing some sort of passive, on-going drip campaign.

Law 4. The “Fisherman’s Law.”

The Fisherman’s Law is very simple. Choose the lake with the most fish! Why cast your line into an un-stocked lake? As a marketer, you get to choose where you market, so make sure and choose the place with a huge school of hungry fish! This is particularly true on the internet. Don’t waste your time marketing on sites that don’t get traffic. There are too many big, successful, free sites to work your magic on to waste time on the small stuff.

So out of the many laws of marketing, do a quick “check up from the neck up” and see how well you’re handling these four. Chances are, you can improve in one or all areas. And even a tiny improvement in each of these four laws of marketing can result in huge returns for you!

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