The 3 Marketing Books you should read
The world of marketing has evolved dramatically over the decades. What worked in the 1990s is not necessarily effective in today's era.
In this article, we'll explore three essential books that will give you a deep understanding of how marketing works today.
These books focus not on constantly changing technical aspects, but on the human psychology that underlies all marketing strategies.
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Influence: The Power to Change Decisions
One of the most influential books in the field of marketing is Robert Cialdini's Influence. Cialdini is a psychologist who delved into the study of what drives people to change their minds, be influenced, and make decisions. His approach is based on rigorous scientific research, which sets it apart from the anecdotal ideas that prevailed before.
Cialdini identified six universal principles that influence human decisions. The first of these is the “Reciprocity Principle,” which implies that when you give something to someone, that person is more inclined to give you something in return.
This applies to everyday situations, such as when a waiter hands you a sweet treat after your meal and you receive a more generous tip as a result. Reciprocity is most effective when it is unexpected and personalized.
The “Scarcity Principle” is the second principle, which highlights the attraction people feel for what is unique, exclusive, or difficult to obtain. This is reflected in brands like Supreme, which generate sales with scarce and exclusive products. It is also the reason why certain educational institutions, such as Stanford, are valued more than others, despite offering similar education.
The "Authority Principle" states that people tend to trust sources who possess expertise and credibility. This is manifested in the casting of actors in television commercials who portray experts in fields they are unfamiliar with. Perceived authority builds trust in consumers.
“Consistency” is another crucial principle that refers to the human tendency to want to be consistent with their commitments. Signing a contract, even if it is just a piece of paper, demonstrates this desire to keep commitments. Consistency is powerful in marketing strategies.
The “Liking Principle” is based on the idea that people tend to say yes to people and products they like. Empathy and human connection are key to building trust in the marketing world.
Finally, the “Consensus Principle” suggests that people tend to do what they see others doing. This phenomenon is known as social proof and is manifested in the widespread use of applications such as WhatsApp or Instagram due to their popularity.
Cialdini's six principles of influence provide a solid foundation for understanding how consumer purchasing decisions and interactions are influenced by psychological factors.
Night: The Science of Change
The book "Night" explores how small decisions, both active and passive, impact our daily lives. It offers examples that reveal how people tend to choose the easier option, even if it is minimally more convenient.
Marketing strategies that leverage this principle can have a significant impact.
For example, it has been shown that customers are more likely to purchase products that are at eye level in stores, rather than having to bend down to reach them.
People tend to go for the easiest and least demanding option, which can apply to the arrangement of products in an online store or on a website.
Crossing the Abyss: From Innovation to Mass Adoption
In "Crossing the Chasm," Geoffrey A. Moore addresses the challenge of taking an idea or product from the innovation phase to mass adoption by the general public. Moore identifies a "chasm" that separates innovative ideas from widespread acceptance.
This book is essential for those working in startups and emerging technologies, as it addresses the difficulties they face in bringing their products to the mass market.
Moore explores strategies to overcome this obstacle and achieve broader adoption.
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The Infinite Cycle of Marketing
In addition to these essential books, it is crucial to understand the importance of metrics in modern marketing. The era of intuition and assumptions is long gone.
Today, a data-driven approach is required to measure and optimize marketing strategies.
ROI (Return on Investment) has become an essential metric for evaluating the effectiveness of marketing strategies. To do so, it is necessary to know and apply concepts such as KPIs (Key Performance Indicators), hypotheses, and data analysis.
In today’s world where marketing has become highly technological and data-driven, it is essential to have an analytical skill set to measure the impact of marketing strategies and make continuous adjustments.
Written by Moises Hamui Abadi : I am an entrepreneur, founding partner of Viceversa and SoyMacho. After leading several digital businesses and advising several other businesses, I decided to form MHA Consulting, a digital marketing consultancy dedicated to growing and empowering digital businesses in more than 7 countries and generating more than 1,500 million pesos.