The 3 Laws of Marketing Physics
Transforming Your Business into a Monopoly
The core of any business is the customer. Marketing Physics defines what your product means to the customer. It helps you to look inwards, evaluate your products and develop an effective marketing angle to position your products uniquely in the market.
These three marketing laws, was coined and explained in
Doug Hall's book "Jump Start Your Business Brain". Doug Hall made an analogy of comparing these marketing laws to the 3 laws of Newtonian Physics.
Like Newton's laws, which are simple and help scientists understand how the physical world functions, these marketing laws will enable you to angle your marketing strategy in a way that will enable your customers to understand and see the dramatic difference of your products and services.
Marketing Physics Law #1: Law of Overt Benefit
The Law of Overt Benefit deals with the question of "WHAT are we offering?".
Overt means "right on the face", so an overt benefit refers to a benefit that is so clear to the prospect, that no further questions need to be asked with regards to what you are offering.
You can distill your product's overt benefit in 4 steps:-
- Define your target audience
- Detail your product's features
- Turn features into benefits
- Turn benefits into overt benefits
Marketing Physics Law # 2: Law of Real Reason to Believe
The Law of Real Reason to Believe deals with the question of "HOW we are going to make good on our promise?"
The benefit is WHAT you are offering while the real reason to believe is HOW you are going to make good on the promise. The most powerful Real Reason to Believe is to tell the truth about what makes your service performs the way it does.
Marketing Physic Law # 3: Law of Dramatic Difference
The Law of Dramatic Difference deals with the final question of "WHY the customer should get excited?"
Dramatic difference represents the small business person's MOST important weapon in competing with larger competitors. Dramatic difference without Overt Benefit is asking consumers to change behaviors for NO good reason.
Evaluation of dramatic difference is how customers decide if their purchase decisions should be based on VALUE or PRICE.
When there is no perceived meaningful difference then price becomes the primary if not exclusive decision criterion. Therefore, having a dramatic difference gets you noticed, remembered and acted on by customers.
Angling Your Marketing Strategies
It starts with defining the overt benefit of your product, and then giving its benefits a real reason to believe by describing how it works exactly, which leads to giving your product a dramatic difference that sets you apart from your competitors.
Stick to these 3 simple marketing laws to position your product, and you will create a business that is close to being a monopoly. So who says physics (or creating a monopoly) was difficult?
Subscribe to NPQ Newsletter!
The information inside
"More Clients,
More Sales, More Referrals" e-Course will help SME owners like
you to have a fundamental understanding of how to get more net profits
without increasing marketing costs. It's yours
FREE.
Just sign up for
the
eCourse by filling up the
form below.