Marketing is Education – Part 5

differentiation, education, Marketing, Methodologies, Positioning, route to market, travel, Trust

In my first 3 posts I was talking about the concept of how education can elevate your position in the market. I have used consultants as examples, I have used Indian brands also. Yesterday I wrote about a French perfume company. Today I will talk about an internationally well known tourism industry brand Trip Advisor.

The best thing about TripAdvisor is that it never tries to sell you anything. You can go look at people’s reviews of hotels, places etc. You can figure out what people liked about a place, what were the best spots etc. All of this is very conveniently put up front. As a matter of fact if you will search about a given location or a hotel in a location – you will typically find Trip Advisor in the top 10 searches on Google. And this inspite of the fact that most of the other search results will talk about the cheapest fares etc.

Initially I used to look at the Trip Advisor ratings for a hotels. What were the other travellers talking about. Slowly I got hooked to the idea of going to the site for everything when I was planning a trip to a place which I had not visited in many many years.

Trip Advisor has a sister site called Viator. So while I was searching for the best places to visit, tickets and other possibilities in New York I also got an option to buy the Travel Pass from them. Guess what, I bought it from them.

If you go on the web to search, you would get a lot of deals giving the same pass at lower rates. But because Trip Advisor has created such a trust relationship because of their education and unbiased user reviews, I didn’t think of even looking for lower options. Now its a standard practice for me to see what Trip Advisor or Viator are offering , what are the user ratings and then buying it from there.

Now does it mean that everyone who comes on the TripAdvisor site also ends up buying from them or their sister site. Absolutely not. And that would be true of all education based methodologies. Not everyone will buy from you. But that would be true for any methodology / positioning that you use. You could choose to have the lowest cost methodology for your positioning, but you would still not get the whole market to yourself. These companies differentiate themselves with the education they offer and create what Jay Abraham calls as position of Pre-Eminence.

Since I like to work with and give business to people I trust, all the examples I have given, till date ,are of companies that have used education to create that trust with me.

Till next time then. See how you can use education to create a marketing pull for your product or service.

Carpe Diem!!!

Debt versus Liability- Part 2 – Happiness

Happiness, Liabilities, travel

In my post yesterday I wrote about how the book Killing Sacred Cows…. by Garrett Gunderson had got me thinking about how I can borrow money for productive use. The issue is that anything can be constituted as productive use

I have been thinking about this as to what could be easily classified as productive usage. So any borrowing for creating an asset that appreciates should be okay. Any borrowing which creates an appreciating asset and also does cash generation should be even better.

If the asset is depreciating but you generate cash many times over then also borrowing should be okay as long as the liabilities you are creating are less than the assets needed to service the liabilities.

Now happiness does not have a direct relationship with creating assets.

But if you are to look at yourself as the million dollar person who creates assets because of your ideas, then a happy million dollar person should be able to create even better assets. So creating liabilities to ensure that you get happy – like going on a cruise to Alaska – which can rejuvenate you and make you even more productive for a long period of time should be worth it.

As Dan Sullivan of Strategic Coach says, you need to put in free time into your calendar well in advance, ever so often , so that you’re operating at your best.

On the other hand a depreciating asset like a designer watch which aids your ego and is purchased by taking high cost credit card borrowing is not ok. This may give you momentary happiness , but soon you will be eyeing the next possession.

For me , I also get happy when I am surrounded by people who are thinking bigger ideas, different ideas or are just plain better than me in marketing or strategy.

Till now I used to wonder how I would finance these meetings and master – minds. This idea of debt versus liability, gives me an ability to do that. Once I am happy and my mind has also been expanded then I can be an even better and more productive asset.

I would think this can open up a whole new way to leverage growth,

Would love to hear your views if you think this makes sense.

Till next time then.

Carpe Diem!!!

Financial freedom – Happiness

Affirmative action, compounding, Financial Independence, Happiness, travel

You would have seen so many posts from me on compounding and rates of return and long term planning to build a large asset base even with small monthly automatic deductions from your account.

The objective of doing all this is not to stop living today for a better tomorrow. 

The idea of financial freedom that I talk about is to ensure that you are no longer forced to do things for earning money.  I have always wanted to have financial freedom so that I could go out and achieve all the items on my bucket list.

These items on my bucket list are what will give me experiences with my family which will in turn make me happy. I have already shared how I used these principles to travel to different countries.

The end objective of getting Financial Freedom and Financial Independence is Happiness today and in the future. 

If you have to work in a job ,which does not make you happy, just because you don’t have the money then you find another job or use the magic of compounding so that over a period of time at least you are in a position to leave the job and do things which make you happy.

Through intermediate milestones, in accumulating wealth, you use the wealth to get experiences . Wealth is not to be accumulated for the sake of getting to a number. You have to enjoy the journey and be happy through all of it.

Till next time then find reasons to be happy.

Carpe Diem!!!

Travelling the world – during Covid times

travel

If you have been following my blog for sometime, you would have noticed that I keep talking about my bucket list.

This bucket list is primarily about travelling to different destinations and taking up different kind of adventures. I have wanted to visit New Zealand and Australia, do snorkeling of the coast in Australia , visit the dragon island in Indonesia, stay in the ice hotel in Iceland, watch the Northern Lights as well as the Southern Lights and a lot more.

Now since the Covid started in India in March of last year in India we have been more or less locked in our houses or at a maximum visited a few local places nearby.

With the second wave of the Covid the situation has become even more depressing out here and I was talking to my brother about it.

He knows my interest in travelling so he suggested a few videos on YouTube which take you to different parts of the world literarily. Since yesterday therefore we have been watching Jane MacDonald’s cruise trips. These are videos are so well made, that they relieved some of the places I had visited in the US and Canada and also showed us some places which we had not been.

Today we were watching the cruise trip to Australia and New Zealand. She took us to quite a few places on my bucket list and also added a few more.

I don’t know when we will have the ability to actually go out and explore the world again and meet new people and do new adventures. Till then, instead of a physical travel list , I now have a bucket list of YouTube journeys that I have to undertake .

If you have other suggestions for visiting different places around the world do share in the comments section below.

Carpe Diem!!!