There are good books, and there are great books – Ries and Trout wrote a great book about marketing that apply across industries and has some tremendous application to the real estate business. Here are the lessons summarized from the 22 Immutable Laws of Marketing By Al Ries and Jack Trout -
The Law of Leadership – It’s better to be first than it is to be better.
The Law of Category – If you can’t be first in a category, set up a new category you can be first in.
The Law of the Mind – It’s better to be first in the mind than to be first in the marketplace.
The Law of Perception – Marketing is not a battle of products or services, it’s a battle of perceptions.
The Law of Focus – The most powerful concept in marketing is owning a word in the prospects mind.
The Law of Exclusivity – Two companies cannot own the same word in the prospects mind.
The Law of the Ladder – The strategy you use depends on where you are on the ladder.
The Law of Duality – In the long run, every market becomes a two horse race.
The Law of the Opposite – If you are shooting for second place, your strategy is determined by the leader.
The Law of Division – Over time, a category will divide and become two or more categories.
The Law of Perspective – Marketing effects take place over an extended period of time.
The Law of Line Extension – There’s an irresistible pressure to extend the equity of the brand.
The Law of Sacrifice – You have to give up something in order to get something.
The Law of Attributes – For every attribute, there is an opposite, effective attribute.
The Law of Candor – When you admit a negative, the prospect will give you a positive.
The Law of Singularity – In each situation, only one move will produce substantial results.
The Law of Unpredictability – Unless you write your competitors’ plans, you can’t predict the future.
The Law of Success – Success often leads to arrogance, and arrogance to failure.
The Law of Failure – Failure is to be expected and accepted.
The Law of Hype -The situation is often the opposite of the way it appears in the press.
The Law of Acceleration – Successful programs are not built on fads, they’re built on trends.
The Law of Resources – Without adequate funding an idea won’t get off the ground.
Carpe diem,
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We help agents, brokers and companies develop values based businesses. We firmly believe that to achieve long term success and venture into the elusive significant, you need to create a business that stands on principle and shared values. We help clients discover and articulate their values and strengths to develop a strong and profitable marketing plan that attracts people who care about the same things the client cares about and truly appreciates the clients strengths. Prospecting methods are all build and tailored around the client’s individual personality. And we walk out the execution of the business plan with them to ensure everything is bundled up to contribute to their business’ overall culture and brand.