The 22 First 9 Immutable Laws of Marketing
In 2023, American businesses will waste billions of dollars on marketing campaigns that stand zero chance of being successful.
How do we avoid becoming part of this statistic?
By ensuring our marketing campaigns are in tune with the laws of marketing.
Laws of marketing?
Most marketing c-suites believe marketing goals are achievable if "the team is energetic, creative, and determined enough!".
Lies.
We can build brilliant and clever marketing campaigns backed by six-figure budgets and have one of the immutable laws of marketing knock us flat on our arses if we don't know what they are.
Lucky for us, Al Ries and Jack Trout, two great marketing minds of the late 20th century, spent years working on principles they distilled into basic laws that govern success and failure in the marketplace.
They named these principles The 22 Immutable Laws of Marketing.
We'll freestyle on the first 9 laws here and suggest you read the book (it's a quick read) to learn more about all 22 laws. 😊
Law 1 - The Law of Leadership
It's better to be first than it is to be better.
In other words, it's easier to be first in the market than it is to compete with established players.
Regardless of reality, people perceive "the first" as superior.
But does this mean we're doomed if our product or company isn't first in people's minds?
Nope. Fortunately, there are 21 other laws.
Example: Coca Cola was the first cola brand in the market. It remains the top-selling cola over a century later.
Law 2 - The Law of the Category
Classic marketing thinking: How do I get people to prefer my brand?
❌ Wrong question. Forget "the brand". Think categories instead.
People are defensive when it comes to brands because EVERYONE says their brand is better. 😴
Categories? People have an open mind for those.
Most people are interested in what's new, not what's better.
Find a new category you could lead. Then promote the category, not your brand.
Example: AirBnB leveraged technology to create the short-term-rentals-in-your-spare-bedroom category. By doing so, they were able to differentiate themselves from traditional hotels and disrupt the lodging industry.
Law 3 - The Law of the Mind
This law modifies Law 1.
It's better to be first in the mind than it is to be first in the market.
Being first in the market is important only to the extent that it allows you to get in the mind first.
The single most wasteful thing you can do in marketing is try to change a mind. You can't change a mind once it's made up.
Establishing your positioning in the mind of your target audience by applying The Law of Focus (Law 5) is time and money better spent.
Law 4 - The Law of Perception
Marketing is not a battle of products. It's a battle of perceptions.
Perceptions are often interpreted as universal truths. People are seldom, if ever, wrong. At least in their own minds.
The perception of your product or brand is more important than its actual qualities.
This is a reality all marketers must deal with.
Example: Customers perceive Starbucks as a premium coffee brand. This perception allows Starbucks to charge higher prices than competitors.
Law 5 - The Law of Focus
The most powerful concept in marketing is owning one word in the prospect's mind.
Not a complicated word. The most effective words are simple, have a narrow focus, and are benefit-oriented.
This word reduces the scope of your offerings. It forces you to focus.
You can't stand for anything if you chase after everything.
Example: Tesla owns the word "electric" in the car market. By positioning itself as the leader in electric vehicles, Tesla has become the go-to brand for eco-conscious consumers.
Law 6 - The Law of Exclusivity
Two companies can't own the same word in the prospect's mind.
You'll waste a lot of time, money, and energy chasing a word owned by another company.
This means you need to establish a unique selling proposition that differentiates your brand from your competitors.
Example: Peloton positioned itself as the "at-home fitness experience" with a unique product that combines hardware, software, and content. By doing so, Peloton has become a leading brand in the ever-crowded fitness industry.
Law 7 - The Law of the Ladder
The human mind is selective.
We use mental ladders when deciding which information to accept and reject, and accept new data only when it's consistent with our ladders.
Every product category has a ladder with rungs that range from low to high. A brand name occupies each rung.
The marketing strategy we execute depends on which rungs we occupy.
Before creating a marketing campaign, ask yourself: Where are we on the ladder in the prospect's mind?
Make sure your campaign deals realistically with your position on the ladder.
Example: Toyota positioned its Lexus brand at the high-end of the ladder, while its Toyota brand is positioned at the lower end.
Law 8 - The Law of Duality
A new category has many rungs.
In the long run, however, every market becomes a race between #1 and #2.
This doesn't mean we quit if we're not in the top two.
It means we need to communicate our unique selling proposition to our target audience (see Law 6).
Don't enter a race you can't win. Enter a different one.
Example: Samsung and Apple are the clear #1 and #2 players in the smartphone industry. Together, they combine for less than 40% market share. This means approximately 60% of all smart phones are not made by #1 or #2.
Law 9 - The Law of the Opposite
Whenever the leader is strong, there is an opportunity for a competitor to turn the tables.
Study the leader. Where are they strong? How can you turn their strength into a weakness? Let them determine your marketing strategy.
Discover the essence of the leader and present your prospects with the opposite.
Not everyone wants to buy from them.
Position yourself as the leader's opposite and you not only gain market share from the leader, you gain market share from the alternatives to the leader as well. 😉
Example: McDonald's is the clear #1 in the fast food industry. However, Wendy's has successfully established itself as the opposite of McDonald's by focusing on its "fresh, never frozen" beef and offering a more personalized experience.
Warning
Violating the immutable laws of marketing risks failure.
Applying the immutable laws of marketing risks ostracization.
But it will help you achieve success.
And success is the sweetest revenge of all.
As always, stay aware, stay educated, and most importantly...stay cool.
Talk soon,
Old Man Winter
