Do you need to know steps to follow when creating a marketing campaign for your business? While every law may not apply in every case, it certainly is a good idea to stay aware of these laws and try your best to abide by them.
This post is a summary of The 22 Immutable Laws of Marketing, highlighting the best concepts and ideas we have got from reading it and we are also going to tell you whether it is worth reading the complete book.
The 22 Immutable Laws of Marketing summary
The 22 Immutable Laws of Marketing book is considered the ultimate reference guide for marketers. It was written by two marketing experts who run their own company in Boston, Ries & Trout.
The first section of the book talks about understanding customers and their desires. They also talk about identifying who your ‘must have’ customers are. Once you know what they want, you can create a positioning statement that will help them choose your product over the others still in the market.
The second section is where they share tactics for creating your brand name to stand out from the rest. After all, if you are not considered unique in some way by your customers, then competing against other brands would be hard to do. Lastly, they advise on how to turn customers into loyal fans by providing them with superior service.
One of the ideas that I liked in this book was the idea that not only should you be aware of what it means to be successful, you also need to know what it means for others to fail. It is important to stay up-to-date with innovations. For example, Amazon started selling books online, which helped them gain more customers that may have purchased from them in the future.
This book can help you boost your marketing strategy. It provides a comprehensive list of changes you need to make when creating a new strategy.
Main ideas from The 22 Immutable Laws of Marketing
The 22 Immutable Laws of Marketing summary brings out the most important ideas in the book. While each of these laws is equally important, the book can be summarized into three main concepts:
Law #1 – It’s better to be first than it is to be better
Instead of competing with other brands, you should focus on being the first brand to come out with a product.
Creating a unique brand name is just as important as being the first to market your product. To be successful, you must have a unique brand name that makes it easy for your customers to remember.
The easier your product is to remember, the more likely customers are to purchase it.
Before creating a new product, you need to know if there is an opportunity for success in that particular market. Figure out what your audience likes first, and then focus on being first to give it to them.
Law #2 – A message that is communicated is a message that is believed
Customers are more likely to buy your product if they have already heard about it. This is why celebrities are endorsing certain products nowadays. They have a large crowd following them on social media that quickly spread the word for brands.
You need to tell customers what you can offer them instead of letting them figure it out independently.
Customers should see your product in person before they buy it because there are some things that still cannot be categorized on an online shopping website.
Law #3 – The power of the new must be greater than the power of the old
Companies must always be on top of their game when it comes to innovation. If one product fails, don’t give up! Keep trying until you develop a product that will change your industry.
New ideas are powerful because they help keep existing customers satisfied and attract new customers over time. New ideas need to be exciting and different because that is what gives them power. You can’t just create a new idea for the sake of it; you have to make sure your customers will like it.
It’s okay to experiment with old ideas as long as you back it up by creating something innovative at the same time.
You shouldn’t let your competition determine what you do next. If they launch a similar product, then take advantage of their investment. The more money they invest in their product, the less likely they will try and compete with you in that market again.
Who should read vs. who shouldn’t read The 22 Immutable Laws of Marketing ?
The book is a valuable resource that will help you with any marketing decision you need to make. It’s a good book for beginners and people in the industry for a while. It covers a wide range of topics, so you will find something in this book that applies to your current situation.
It’s an excellent gift to give to someone who wants to improve their marketing skills.
While some people may find this book useful in regards to business, it is not for everyone. If you are looking for something less theoretical, then this would not be the right fit for you. This book requires rigorous research on your end, which will result in a better understanding of consumer behavior and why certain things work when marketing your product.
Review of The 22 Immutable Laws of Marketing
The authors did a great job giving you examples that relate to your business.
What are the positives from the book?
- It is easy to read and understand.
- It has a lot of great examples that you can relate to your business.
- The steps given are fairly easy to follow, and you will be able to put them in motion quickly.
What are the negatives from the book?
- It’s not tailored for specific industries; it’s more generalized.
- It has long stories which may bore readers who don’t like non-fiction. Many people prefer books with short stories to highlight important information quickly.
Overall, I recommend this book to anybody who needs help with marketing. It is an excellent source of information that can be used in a number of different businesses.
Should I read the complete book?
Yes, I recommend that you read the complete book because it is a great investment. The 22 Laws of Marketing will help you understand what your customers want from your company. The book can be a reference as well as a guide for beginner marketers.
This was just a summary. If you want to know more about this topic, buy the complete book and see your life change for the better.