Skip to content

Latest commit

 

History

History
70 lines (68 loc) · 5.31 KB

Personal_MBA_Notes.md

File metadata and controls

70 lines (68 loc) · 5.31 KB

Marketing

  • Without prospects, you won’t sell anything, and without completing profitable transactions, your business will fail.
  • To get someone’s attention, you have to find a way around their filters.
  • You want the attention of prospects who will ultimately purchase from you— otherwise, you’re wasting your time
  • Receptivity: they’re interested in almost anything they can find about their obsession as soon as it’s available. From a business perspective, that’s ideal —it’s difficult to offer something that this audience won’t want immediately
  • Receptivity has two primary components: what and when
  • Advertising is the tax you pay for being unremarkable. —ROBERT STEPHENS, FOUNDER OF GEEK SQUAD
  • From a business perspective, the Attention-grabbing design of FiveFingers is working beautifully
  • Being Remarkable is the best way to attract Attention
  • Attention to close enough sales to produce enough profit to keep going. To do that, it’s best to focus on attracting the attention of the people who will actually care about what you’re doing
  • Your Probable Purchaser is the type of person who is perfectly suited to what you’re offering
  • Marketing is most effective when it focuses on the desired End Result, which is usually a distinctive experience or emotion related to a Core Human Drive. The actual function of the purchase is important, but the End Result is what the prospect is most interested in hearing about. It’s often far more comfortable to focus on the features: you know what your offer does. Even so, it’s far more effective to focus on the benefits: what your offer will provide to customers. The End Result is what matters most. By focusing on the End Result, you’re homing in on what will cause your prospect to conclude, “This is for me.”
  • Qualification allows Progressive to maximize the number of highly profitable customers it insures while funneling the “bad risks” directly to their competitors.
  • The more clearly you define your ideal customer, the better you can screen out the prospects who don’t fit that description, and the more you’ll be able to focus on serving your best customers well.
  • Attempting to attract the Attention of people who don’t care about what you do is a waste of time, money, and energy, so it’s best to find out when people are interested in hearing from you before you reach out.
  • If you can get a prospective customer’s attention as soon as they become interested in what you’re offering, you become the standard by which competing offers are evaluated. That’s a remarkably powerful position that increases the likelihood the prospect will ultimately purchase from you
  • Addressability is a measure of how easy it is to get in touch with people who might want what you’re offering. A highly Addressable audience can be reached quickly and easily. A non-Addressable audience can only be reached with extreme hardship, or isn’t Receptive and doesn’t want to be reached at all.
  • The essence of effective marketing is discovering what people already want, then presenting your offer in a way that intersects with that preexisting Desire. The best marketing is similar to Education-Based Selling (discussed later): it shows the prospect how the offer will help them achieve what they desire.
  • The essence of effective marketing is discovering what people already want, then presenting your offer in a way that intersects with that preexisting Desire. The best marketing is similar to Education-Based Selling (discussed later): it shows the prospect how the offer will help them achieve what they desire.
  • Your job as a marketer isn’t to convince people to want what you’re offering: it’s to help your prospects convince themselves that what you’re offering will help them get what they really want.
  • So what do people want? We’ve already covered that: the Core Human Drives are a starting point that will help you discover what your market wants at the most basic level. The more drives you can connect with your offering, the more effective your marketing activities will be
  • Once you’re actually behind the wheel of a car, however, the emotional parts of your mind take control. You start to imagine what your life would be like if you owned this vehicle. Instead of dispassionately comparing horsepower and acceleration metrics, you can actually feel the power of the engine and the ease of handling, and you can imagine the respect (or envy) of your neighbors as you pull your attractive new vehicle into the driveway
  • Framing is the act of emphasizing the details that are critically important while de-emphasizing things that aren’t, by either minimizing certain facts or leaving them out entirely. Proper use of Framing can help you present your offer persuasively while honoring your customer’s time and attention.
  • By giving your prospects something useful at no cost up front, you earn their attention and give your potential customers a chance to actually experience the value you provide. Done well, this strategy will net you sales you wouldn’t have made otherwise
  • Asking for Permission to follow up after providing Free value is more effective than interruption. Offering genuine value earns your prospect’s Attention, and asking for Permission gives you the opportunity to focus on communicating with people you know are interested in what you have to offer.