Marketing is Education- Part 2

Breathing, education, Health, Marketing, Yoga

Today I will give you examples of how different people / companies have used education to create a massive amount of marketing pull for their companies.

Example 1 : Joe Polish , Dean Jackson , Dan Sullivan. Between the three of them they run 4-5 podcasts. Ilovemarketing.com, morecheeselesswhiskers.com, 10Xtalk.com, Cloudlandia etc.

The amount of knowledge they give in these podcasts and related YouTube videos is so amazing. I have utilized so much of that knowledge and because I saw their knowledge working for me, I also started buying some of their products .

Example 2: Baba Ramdev is a Yoga and Ayurveda guru in India . Ayurveda is the more than 7000 year science of using plants and herbs to heal the body. Using Yoga and Ayurveda Ramdev baba teaches how you can live a healthy life.

Whenever possible I watch his videos on YouTube and television channels like IndiaTV. Through these I have learnt so many breathing exercises to keep me alert and healthy as well as about plants and herbs that can keep me healthy.

Patanjali is the company which sells Ayurveda products which is associated with Baba Ramdev and he does show some of those products in passing.

But what do you think comes to my mind first when I have to buy AloeVera juice. You got it Patanjali. Simply because the other companies didn’t teach me the advantages of using AloeVera first, I always prefer Patanjali . Like me there are millions of people who have today made Patanjali a company with revenues of more than USD 2 Billion.

Tomorrow I will pick up some more examples from different fields where education has helped increase the business.

Till next time then.

Carpe Diem!!!

Reference Guides

books, Frameworks, Questions, Reference Guides

While I write about my opinions on a lot of topics and give my view points on how to solve them, I myself end up in one spot or another every now and then.

As Joe Polish says – and I paraphrase it here – as you climb up the challenges take up more difficult formats – and you need to handle them , learn from them and move higher.

I have found books to be my source of support for the different kinds of challenges that get thrown my way. I have shared the different books I read from time to time. I also end up taking a speed reading course to help me increase the speed of my ability to read.

But sometimes you come across a book which you can keep going back to as a reference guide. It lays out the framework easily and then also puts the tools in your hand to ensure you get to use the stuff. When I was in school we had an English grammar book by Wren & Martin. I used that book from grade 5 to grade 10 for all my exercises. But I kept using that book even later as a reference to ensure I could check out, when I had a query related to English grammar. I even bought that book for my son when he was in school and I still have that copy with me.

In physics we had Resnik and Haliday which had such a well written basis that I took a liking to physics only because of that book. Marketing of course has been Philip Kotler.

Recently I have been mentioning about this book – The Road Less Stupid by Keith Cunnigham. Its one of those books which I have reread multiple times. First it was end – to – end , subsequently it has been specific topics. But the book really helps you THINK.

I have written earlier about focused time and also shared with you the links to Dean Jackson’s videos on how to focus etc. Once you do that and you want to actually move forward, onto figuring out root cause issues and the right questioning frameworks to solving the right problems, then this is a reference guide. I would highly recommend you read this book in case your job is to figure out solutions everyday.

Till next time then.

Carpe Diem!!!

Asking questions in the market – 4

Marketing, messaging, Positioning, Questions, route to market

Over the last few posts I have been talking about how better questions can make a difference in the success that you achieve in the market. While my focus is on the B2B market, the general principle will apply to any market.

Today the questions I am talking about would help in making your messaging and route to market better. It will then help you identify the constraints you can face, the models you have to apply etc. Again I would highly recommend Dean Jackson’s Morecheeselesswhiskers.com podcast and his & Joe Polish podcast ilovemarketing.com

1. Is the product or service that you are wanting to sell going to be used as a first time buy. If someone has never used a motorized vehicle then a 100CC mobike is a first time buy for them. Trying to sell them a 650CC motorcycle will not work.

2. Will the product be an upgrade or replacement. If you know the customer is already a user of your Air Conditioner for the last 5 years then they could be ready for a replacement or upgrade. In IT is called a refresh cycle which each company decides.

3. Will the product or service be for emergency use. If a tornado strikes and there’s a damaged roof or water in the basement then you need to get it out NOW. Then there’s no time for evaluation of multiple options.

4. Will the product be an accessory to a key product. Smart phone covers are an every day example. So you need to be able to reach those buyers who use the phone for which you have the covers.

5. Will the product/ service be for the repair of an item. Duck tape is a very good example of this or a tyre repair shop.

6. Is what you are selling aspirational in nature. Then you have to target the people who already use something and may now have the money to aspire for something bigger or because their families or job responsibilities have changed. Aspirational is a little different from upgrade in the sense that upgrades are generally considered incremental in nature.

There could be some specific scenarios which apply to your business and have not been listed here.

Once you can map where all your product or service plays, you can design the market route, the messaging etc.

Generally I keep my posts short so you can read them while waiting in the line to get coffee. This one has become slightly longer. I hope its useful.

Let me know your views.

Till next time then.

Carpe Diem!!!

Identifying the dissonance for engaging a B2B customer

B2B, Business, competition, Marketing, Marketing Stamina, messaging, persistence, segmentation, single target market

With B2B customers, as I have mentioned earlier in my earlier posts, its difficult to get instantaneous decisions because of various reasons. These could vary from inertia to customers having to do cross functional team decisions, budgets and the works.

In most cases until the dissonance with the existing supplier is so large and repeated that the customer can no longer bear it, they don’t change. However in a bundle of 1000 prospects, the Dean Jackson “inevitability principle” eventually kicks in and some incumbents falter and that’s when you get a chance to stake your claim.

Now you need to be in front of the customer to stake your claim. In addition you should, on a consistent basis keep highlighting the possible challenges the customer could be facing.

For this you need to know your competition well. Competition could be from a company or an alternative technology. You need to understand the places competition is weak and then work your messaging to highlight the challenges the customer could be facing because of the those issues. These messages need to be about “rubbing salt over their wound” so that the pain gets even more highlighted.

Its not always possible to know all the challenges until you ask the customer and then hypothesize for others – since you have already focused on a narrow segment of the market. So if you get in front of a customer on the phone or in person or via web you need to check if they value the benefits that you offer versus what the incumbent does not have. You will then realize for yourself if those benefits matter to a decent set of your audience.

Once you have done that then the the key is to be persistent because we don’t know when the customer will decide to change. Also since customers do more than 60% of their research in the sales cycle even before they call the vendors, if you are not in front of them when they are doing the research, you won’t even get considered.

Till next time then.

Carpe Diem!!!