Vince Reed Reveals the 5 Laws of Marketing
Vince Reed is a renowned lead generation expert who harnessed his expertise and amassed a multi-7-figure earning. Due to his success, he is now considered an industry leader and authority in advertising, lead generation, online traffic, and sales.
In a recent interview, Reed revealed the five laws of marketing that helped him build multiple 7-figure businesses. Reed recalled that when he started, he was like everyone else, a salesman struggling to make even a single sale.
One of the key points that he emphasized is that entrepreneurs should eliminate the fear of spending resources on advertising that will increase business through a massive flow of traffic and sales in the long run. Below are the five main strategies that Vince Reed followed to reach tremendous success.
1. You Don’t Know What You Don’t Know
We cannot simply know everything. Reed explained that we often hear about this cliché, but most of us don’t understand what it really means until we experience and acknowledge it ourselves.
As an example, Reed performed a short test among his audience. When he asked who of them would want to make millions, everyone raised their hand. But when he asked HOW to earn or reach that million, no one raised a hand. Many of these people didn’t even realize that they don’t know how to reach that million – until it was asked of them.
2. Knowing Your Numbers
Not a lot of us are Math wizards, but going into a business requires some numbers (whether we like it or not). Numbers will give you visuals. Reed emphasized that knowing your number offers leverage points. However, the key is recognizing those little quirks at that moment and to step back to figure out in what way can it help you.
Some do not recognize those leverages at the moment it happens, making it hard to articulate the situation and strategies that should have been put in place. This results in missed opportunities.
So master your numbers, dig into those, figure out how to use them, and assess how you are currently doing. This includes your traffic flow, sales volume, and the like. Knowing which are your high and low numbers can help you redefine focus and maximize certain strategies.
3. Strategy vs Tactic
Reed recalled that he initially worked at an advertising back office for several years. Marketing and advertising are his superpowers. At this point, he realized that there is a difference between strategy and tactics. While plans or campaigns are called strategies, the tasks and implementation are tactics – both should go well together in order to be successful.
It is common that when people don’t get the results they were expecting, they’ll just chalk it to wrong strategies. However, what many of us don’t realize is that these failures are results of human error. Sometimes, the right strategy is not paired with the right tactic (or vice versa). This is not always apparent, thus it should always be pointed out.
Realizing that it is human error, rather than the ineffectiveness of a process, opens up opportunities to look into how to improve, execute, and implement the strategy. It also changes the whole dynamics of the business.
4. Seeking The Right Mentor
According to Reed, a mentor is someone who is successful in his chosen field – and is also investing some of his time in training and coaching others (like you). Students must realize that their mentor, although some are paid for mentoring sessions, can actually make a lot more money when they spend their time running their business rather than coaching.
However, it’s not really about the money because good mentors like to give back and help starters take off in their business or marketing journey. This understanding allows students to take coaching time seriously. It should be known that the time spent in mentoring/coaching is not pointless. Mentors choose to coach/train you for a purpose, and not just to waste time, money, or ideas.
Reed emphasizes that it is important to select the right mentor. To know this, you must check their current status and if they intend to stay where they are right now. Aside from that, you have to ask what steps did they take to arrive at their status.
A good mentor does not have to be the richest person you know, but he/she should be someone who has achieved a certain success using a proven process that he/she is willing to share with you.
5. Attend Events
Placing yourself among people moving towards the same goal as yours is one of the ways to get ahead. These events produced successful people and Reed admitted that he started attending events to help him get that experience.
Now he and other successful marketers came out from these events. Information you get from attending events will propel you and your business to a better position than what you are currently in.
Marketing events bring the best people in the market into one place and hanging out with them comes with tons of benefits. Marketing experts, those earning up to 6 and 7 figures a year, are usually sought to reveal their best tips and techniques in achieving success. That is from getting new prospects, enrolling new team members, making sales, and eventually building a wildly successful business.
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