Categories
Book Reviews

Bobby Huang’s Book Review: Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant

There are untapped markets that are worth BILLIONS if not TRILLIONS of dollars that are just waiting to be tapped.

Many business and people actually try to tap markets that already have so many competitors and compete with the companies that are already in the market and try to compete over the same things.

They later find themselves deep in debt and closing down business wondering why they weren’t able to gain traction with the business they knew worked because they saw other people do it.

These folks are competing in what we call a red ocean, which red likely symbolizes blood.

If there are 195 competitors in the same market, is it very easy to be successful?

Yes and no.

It can be easy if we approach it in the right way.

No if we approach it from the traditional way.

The right way is to approach the market as if it’s a blue ocean, an opportunity not tapped in the customers mind.

We must position our products that they fill a different need than our competitors.

A good example is Apple’s iPhone.

The iPhone started the smart hand set touch screen craze and Apple currently owns a large portion of the profits.

They’ll generate billions of dollars in profit before they lose traction.

They changed the way we interacted with our phones and while Samsung might sell more handsets then them currently at this writing, Apple still makes more money.

All of this is covered in the book Blue Ocean Strategy.

I highly recommend this book and give it 9/10 on my score of 1-10, 10 being great.

The book covers in details how many companies create billions of dollars in blue oceans.

Something we can do with even our small business or even in our daily lives.

If you are a start-up this book will be VERY useful for you to position yourself well in the minds of your customer.

Even established businesses will benefit from the strategies in this book.

I highly recommend you add this to your book collection.

 

-Bobby Huang

Categories
Lifehacks Marketing

Marketing Has A Bad Rep

It’s the story many of us tell ourselves.

“I hate sales people, I hate advertising and marketing, it’s so annoying.”

The thing is, marketing is story telling, and we tell ourselves stories all day.

Even the story about hating marketers.

All day we do marketing. We make other people believe our story about who we are and we even believe the story itself.

When we teach kids how to be great people, we are marketing to them that our idea/story is the good one to follow.

Sometimes we make the mistake of saying it’s better for them when it’s really not.

We also sometimes make the mistake of telling them they should follow what we say without telling them why or what reason we have.

If we don’t tell them why or how it benefits them, 33% or more of kids and our audience stop listening.

Categories
Marketing

Are You Making This Marketing Mistake?

All the Different Parts of Marketing

Integrating marketing in everything is key for creating the best customer experience, and the best customer experience usually means they are more likely to buy.

This is a mistake most folks make, whether with an information product business or brick and mortar store.

We create content or products which are not specifically directed or create a consistent experience our customers can go through.

When I say integrate marketing into everything, it literally means everything.

From how your prospect (or potential customer) finds you on your opt-in page or pay-per-click advertisement, all the way to after they already bought or didn’t buy your product.

This also includes your blog posts, your emails, your videos, and your audio files, and much more.

It’s a mistake not to include marketing into your product either.

I’m not saying you should spam your user with your marketing of “buy this now” crap, more over integrating your message into everything you do.

If you want to teach folks how to lose weight, well, you’ll always need to integrate your message, maybe it’s lose weight with less effort, so you might mention “in little or no effort this technique” and sort it around like that.

What exactly do I mean by marketing?

Many folks say the different components of marketing make up marketing. Such as branding, advertisements, research, competitors analysis, and etc.

Yea they are all parts of marketing, but what is the main goal of marketing?

It’s for your customer to buy your product or buy it in the future or tell someone else about it.

I really like to repeat myself.

Marketing is for your customer to buy your product or buy it in the future or tell someone else about it.

The biggest marketing mistake before not integrating marketing into everything you do, is letting someone else do your marketing.

Someone else who may not be as passionate as you, someone else who doesn’t care how well you succeed, as long as they get paid. Who knows more about your product than you?

These folks don’t usually get paid on commission of what YOU make, usually a commission of what you spend, so their goal is for you to spend so they make more.

The marketing message gets jumbled and folks start to make marketing about who can win the most useless awards or who can make people laugh or who can make people cry.

Really, the most important thing for you, is for your customer to buy, buy, buy or buy it in the future, or tell someone else about it.

How To Integrate Marketing Into Everything

It all boils down to one thing, when you want your customer to buy, you have to really answer this question your potential customer asks.

“What’s in it for me?” 

Basically, what benefits does your customer receive when they first read whatever you are giving to them.

Of course you’ll need a good headline or title, but that’s for another post.

Before you start any email, any blog post, any product, any video, any whatever, just make sure you tell your customer what benefit they get from doing what they are about to do.

Think about the benefit they’ll get and start creating from that point of view.

Tell them the “why” they should read what they are about to read or buy what they are about to buy.

Also to really understand your market is key to marketing.

You really need to understand what message your customer wants to receive or what message will keep them interested.

This is the marketing message.

Think of the book the 4 Hour Work Week. That title in itself tells you what the goal is.

The message in the book is consistent throughout the book, work less and get more results by being more effective and challenging the status quo.

That message is consistent from beginning to end, and on his blog as well. Nearly every blog post is about how to get more out of doing less.

People know what to expect when they follow him or read his books. It’s a consistent customer experience and likely best for the type of experience he wants for his prospects and customers.

When you integrate marketing into everything you do, including the product itself (remember my definition for marketing up top?), your customer has a better experience and is more likely to tell someone else about it.

They are more likely to buy from you. And possibly become 1 of your 1000 true fans.

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