I first heard about this book through Tim Ferris who says he won’t launch a new company without rereading this book and to me, that gave it merit. I’ve since reread it several times myself, I think making this my 4 or 5th time.
Here’s what is and always seems to be my biggest take away: own a category and if you can’t own one, create a new one. It makes sense, but it then becomes hard to create your own category. Take my digital agency, for instance, what category could we create for ourselves? Everyone seems to be #1 in customer service and while we really believe ours is far and beyond others, we don’t want to mix in with the crowd of people screaming customer service. So what category can we create?
No seriously, I’m looking for ideas. Since we show clients exact ROI every quarter, we could be the ROI leaders in digital marketing. It takes a ton of time and most agencies simply won’t do it but I have no doubt some out there say they show ROI. Digital is so powerful for advertisers. They no longer have to guess if it’s working. we show them with proof to back it up but again, a lot of people could do it.
Could we be the only agency who believes deeply in customer service and also provides great results but again, I know some agencies who do so. I’m simply writing all of this out to think it through and I really believe if you a company find this one niche, their results will skyrocket. Enough about us though, let’s get back to the book email me firstname.lastname@example.org with some ideas!
This book is an age old because it defines laws, not guesses in marketing. Some more laws that stuck out to me are:
Law of Focus- try and own one more in your market. I.e. fedex with overnight or Volvo with Safety. To me marketing all comes down to owning something in the customer’s mind and finding a way to convey that to them. In a digital world this becomes easier and at the same time more difficult. Let’s say you’re a small business in a local market, how can you apply all of these laws?
In reading the book, I can’t help but feel like it’s geared towards larger companies in larger markets but that’s not to say that the laws don’t apply. My overall takeaway is this: read the book, learn the laws and find a way to fit them to your own company. Some will be tougher than others but if you can find a way to apply them, you’ll likely have success. Most people don’t even think this far so you’re off to a great start.
One last big thing is this: it’s not what you think your company is but what the customer thinks your company is. At the end of the day, they’re paying your bills so you might as well see it from their point of view.