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.
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.
I learnt a very important concept yesterday while watching a video of Brendon Burchard from the ilovemarketing mastery program by Joe Polish.
He was explaining about how he strategizes a book launch. A book launch is another form of a product launch with the product over here being a book.
I have been in Product Management for quite a long time and some of the concepts that he spoke about were standard.
However one thing which got me thinking and which you also need to understand if you are into Product Management is differentiating between ancillary products / services versus next set of products / services which are higher up in aspiration but are however part of a common ecosystem.
As per Brendon an ear phone, phone cover are ancillary while the iPhone, the iPad and the Mac all part of the integrated product set which Apple sell all the 3 items to their customer base all the time.
So even though Android is there with the so called “open” environment with a huge ecosystem, with full fledged interoperability and there are so many companies who sell more phones than Apple but no company makes as much money whether its with phones, tablets and computers.
This got me thinking. If you look at other companies who are really have ruled a lot of industries – the integrated product suite does come to mind.
IBM had their set of products and services which were generally all integrated. That was the biggest value to large customers who did not want the hassle of integrating products from different vendors. Customers could easily buy another set of products with a clear knowledge that they were safe because it was IBM. So even though a lot of companies came out with so called “open-systems” and individual discreet products, IBM had their clientele clearly defined and have been making a lot of money.
This has got me thinking. While we do think in terms of the next set of products/services that we should have in our suite, to clearly have an integrated suite where the customer has the comfort as well as the aspiration to take the next product from us needs to be thought off. We also need to clearly differentiate between ancillaries and next level of products so that we have 2 sets of revenue streams.
Pls tell me if you have had success with this kind of an integrated product suite. I would like to know your inputs in the comments section below.
Till next time then.
Today I heard a very simple system to handle “worry”
Please understand I have read books like how to stop worrying and start living by Dale Carnegie and a whole lot of other books on this subject. Each of these had some iota of advice which was a little helpful. But most of the times when we worry, our mind actually travels in a spiral so fast that the other pieces of logic don’t quite come up front to solve the worry.
However I heard one very interesting plan by Joe Polish in his I Love Marketing Mastery program. He learnt it from someone whose name I couldn’t get. You know I have deep regard for Joe so I thought of trying it and sharing it with you.
He says its a three step process
- Don’t worry alone – share your worry with someone – automatically the worry statement which your brain builds up falls
- Get the facts – this helps eliminate the emotions involved.
- Have a plan – for the next steps
I have realised that within these three the first step is actually critical. If I can share my worry with others, then my actually feels a little more relaxed. I have never tried it though with family members. Not sure how it work there. With my professional relationships though this does work.
The second and third points actually happen more easily when multiple brains are working together. And as I have mentioned in my posts earlier, once you start taking affirmative action, by working through small steps at a time, the worry automatically starts to fall.
Have a look at this simple 3 step process and let me know how it worked for you in the comments section.
Till next time then.