We live in a fast-paced world…
And in the world of business, one of your key goals is to stay relevant.
Now, you can do this with your product or service, but your marketing is another powerful way to do this.
So, in this week’s newsletter, you’re going to discover what I believe are some of the best ways to stay innovative with your marketing.
The BIGGEST sin in marketing is being boring.
If your marketing is boring, no one will pay attention long enough for you to win them over.
And if you don’t win anyone over, your business won’t last long.
So let’s get started.
Why You Must Study Your Competition
One of my favorite ways to stay innovative is by studying my competitors.
Most business owners don’t do this
But how can you expect to out-market, out-sell, and out-perform your competitors if you know little about them?
You can’t.
You must aim to know them better than they know themselves.
You must know all their marketing angles…
Know their products and services inside out.
Know their social media, email marketing, blog content, and anything else they put out.
I’m on all my competitors’ email lists.
I’ve bought a lot of my competitors’ products so I can go through their sales funnels and see what they’re selling.
It gives me a heads-up when things change in the market.
If you’d like 7 tools for spying on your competitors in 5 minutes, then click here >>
These tips are outside of the ones I mentioned above and I think they’ll really help you.
The Difference Between Being Inventive and Being Innovative
A lot of business owners get these two mixed up, so let me break them down for you to remove any confusion.
Being inventive is creating something that doesn’t yet exist.
Being innovative is taking something and tweaking it to make it better.
You’ll almost always be innovative rather than inventive unless you’re an inventor.
So, how would you like my secret to be innovative and come up with new marketing ideas?
This tip is priceless, and has the power to help you completely disrupt your entire industry.
Study other industries.
It’s that simple.
If you want to think outside the box, you’ll never do it, only studying your industry.
Some of my best ideas I borrowed from other industries and applied to mine.
Here are some places to look…
Try reading blogs, articles, newsletters, and magazines in random industries.
I’ve read tech magazines, gaming articles, and even gardening blogs to get new ideas.
So let your imagination run wild here.
FAIR WARNING: You may not completely understand everything you read, and that’s OK. What you’re doing is absorbing ideas, and something will jump out at you and you’ll think about how you can apply it to your business.
The #1 Way To Stay Relevant and Innovative and Business and Marketing
I believe this next tip is the absolute best way to stay innovative and relevant.
It’s by hanging out with other successful entrepreneurs outside of your industry.
You could go to events and conferences, or even simply have lunch or dinner with a new set of successful entrepreneurs.
Ask them what they’re working on.
Ask them how they solved certain problems in their business.
Ask them what’s working for them right now and why they think it works.
Ask them profound questions and get ready to take good notes.
You’re looking for one elegant idea.
You’ll be far better off gaining one amazing idea than 1000 average ones.
I firmly believe your environment is one of the most powerful things you have at your disposal.
So, putting yourself into situations where you’re surrounded by high achievers upgrades your environment, which will affect you and your business in many ways.
How To Leverage Your Team For Great Marketing Ideas
If you have a marketing team, of course, you can leverage them for ideas.
But I want to share with you a powerful strategy that ensures you’ll always have more ideas than you need…
And also solves the problem of team members coming up with the same ideas.
It’s simple, instead of asking your team to come up with 3-5 ideas, ask them to come up with 15.
Because if you just ask for 3-5 per person, the chances are everyone comes up with the same 3-5 ideas, and likely, the ideas are the same ideas you’ve thought of too.
So, when you ask for 15 ideas, it forces everyone to think outside the box, and not only will you have far more ideas, the chances of idea overlap are lower.
When you’re at the next meeting, you ask people to share only 3-5 ideas, but every time someone mentions an idea, everyone else with that same idea must cross it off their list.
This way no ideas are duplicated, and you’re left with a good set of solid ideas.
What usually happens is ideas are broadened and expanded on, and the whole process is more of a team effort, with no one person taking all the credit.
How To Unlock Your Entrepreneurial Thinking
I’ve got two things for you.
The first is a short training I created called Unlock Your Entrepreneurial Thinking.
It won’t show you to think outside the box…
It will show how to think like there IS NO BOX.
I use these strategies all the time in my business, and if you want to unlock ideas you never knew you had inside of you, then click here to check it out >>
The second training is Marketing Secrets, and it will help you out-sell, out-perform, and out-think your competitors no matter what niche you’re in…
And it allows you to get the most out of the copywriter(s) on your team.
If you’d think this could be an asset to your business, then click here for the full scoop >>
I hope you’ve enjoyed this newsletter and found it valuable.
The right type of thinking and the right ideas will ensure your business stays relevant in this rapidly changing world, and will also ensure you continue to grow and generate revenue for years to come.
Go high ticket,
Dan Lok
P.S. – Our next S.M.A.R.T. Challenge™ is just around the corner.
If you’re not familiar with it, it’s my 3-day business immersive, where I show you how to SCALE, SYSTEMIZE, and SUSTAIN your business.
By the end of the three days, you’ll have everything you need to build a business that gives you the impact you desire but also saves you from the ‘time for money trap’ that plagues so many business owners.
