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Dan Lok Show

The Surprising Advantages Of Marketing Your Business During A Crisis

Dan Lok Show

Dan Lok

Entrepreneurship, Management, Careers, Business

4.9824 Ratings

🗓️ 30 September 2020

⏱️ 4 minutes

🧾️ Download transcript

Summary

Most entrepreneurs make one mistake when timing their marketing. That’s why in this episode, Dan Lok explains what to watch out for. Listen carefully for the surprising advantage of marketing your business during a crisis

Transcript

Click on a timestamp to play from that location

0:00.0

What's the best time to market your business?

0:16.2

One of the mistakes that a lot of entrepreneurs make is they believe that they should do marketing

0:22.1

when they need customers. That is simply not true. You don't want to do marketing when you are desperate.

0:30.1

When you're running low on cash, it's like a car running low on the field. You want to do marketing

0:35.7

when you don't need customers.

0:38.1

Think about Apple.

0:39.4

Apple is still spending a ton of money advertising

0:43.6

to get customers when they already make billions

0:47.2

and billions of dollars.

0:48.3

Coca-Cola all these years spent billions and billions of dollars

0:52.4

every year to promote Coca-Cola.

0:54.8

And Coca-Cola is already a global brand

0:57.8

that you and I are familiar with.

0:59.8

So why do they do that?

1:01.6

They do that because they understand

1:03.4

you need to be in front of people all the time.

1:06.7

You always want to keep that awareness.

1:08.7

Now what happens is there are a few advantages when you do this.

1:11.6

First of all, when time is good, let's say you don't need to do any marketing

1:15.6

and people are knocking on doors wanting to buy from you.

1:18.6

Now when you do more marketing, it's going to help you to dominate the entire market

1:22.6

that you are the choice, you are the number one choice in your marketplace. We enforce your leadership

...

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