The World's Best Book Summaries
What should you do first—create a product or figure out how to sell it? Why do people buy products? Everyone has problems, needs, and desires. Entrepreneur and marketing expert Seth Godin says that effective business people know how to tap into those—creating products that solve customers’ problems and fill their wants and needs. Keep reading to learn why Godin promotes problem-solving marketing.
Who makes up your smallest viable market? What do they truly want and need? Should you adjust your product story over time? In This Is Marketing, Seth Godin says that old marketing techniques no longer work. He outlines his guiding principles of marketing in the modern age: create something of value, focus on your smallest viable market, match your story to the story your audience tells themselves, and leverage word of mouth. Continue reading to learn about each of these four basic principles of marketing.
Why is the importance of consumers for a business strategy? What influence do consumers have over a market? According to Competitive Strategy by Michael Porter, influential buyers can impact what businesses offer, their pricing strategies, as well as overall market demand for products and services. For example, in the smartphone market, buyers exert significant influence due to their ability to readily switch brands. Here are the multiple conditions that increase buyer influence over a market.
Does your business need revamping? Do you want to gain a competitive advantage in business? The goal of every business is to outperform its competitors. Competitive Advantage by Michael Porter suggests that you align your operational procedures with one of three strategies: set lower prices, offer something unique, and target niche markets. Discover how to implement each of these strategies.
What is permission marketing? Why is it more effective than old-style “Interruption Marketing”? Seth Godin says that the primary advertising method of the 20th century is no longer the most effective approach. He advocates building relationships through what he calls “permission marketing.” He explains what it is and why it’s so much more profitable in today’s brand-saturated market. Keep reading to understand what permission marketing is as well as the philosophies that are behind it.
What’s the best way to approach prospective customers? What’s the most profitable level of permission you can get from customers? In Permission Marketing, Seth Godin establishes the broad basics of his approach: Make long-term investments in your customers, and personalize offers for each individual. Then, he gets more specific and outlines the steps you can take to set up and profit from a permission marketing campaign. Keep reading to learn the basics of Seth Godin’s marketing strategy as presented in Permission Marketing.
What should you do with your YouTube channel before focusing on revenue? What are the various ways you can make money on YouTube? Which is better—channel membership or Patreon? According to prominent YouTubers Benji Travis and Sean Cannell, the “YouTube secret” is this: you just need a sound business model. In their book, they explain how to create a successful YouTube channel and share several ways to monetize it. Read on to learn how to make money with a YouTube channel through four revenue streams.
Why are fewer people buying new smartphones? How has this impacted the smartphone market overall? Sales of new smartphones have been on a downward spiral for over a year and experts don’t expect this to change any time soon. Some say the softening smartphone market is good for price-conscious buyers, but others argue that buying new phones as soon as they’re released isn’t a smart move. Read on to learn what’s behind the declining smartphone market and what the future holds.
Do you have an excellent product that deserves excellent marketing copy? What’s the best way to capture your product’s essence in words? To succeed in business, you must effectively market and sell your product or service. Not only must you refine what your product or service is, but you must also refine how you present it. In Ready, Fire, Aim, Michael Masterson provides a four-step strategy to do that. Read more to learn how to write marketing copy in four simple steps.
What are the disadvantages of data analytics in product development? How can hard data fail to support business innovation? In his book Competing Against Luck, Clayton Christensen challenges the conventional thinking around business innovation and highlights the disadvantages of relying solely on data analytics to guide decision-making. Christensen argues that this approach often leads to disappointment. Keep reading to learn the two key disadvantages of data analytics in business, according to Christensen.