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Direct Talk On What It Takes to Succeed
A lot of the time, especially in my humor writing, I am extremely sarcastic about Internet marketing. I make fun of the hype, the advertising, and some of the marketing strategies used. At times, my readers may wonder if I believe there is even a...
How To Create Your Own Product Or Service (Part 2)
In the first installment to this series, we looked at creating and marketing your own info product. I gave several concrete examples of info products I created with very little investment of time or money which sell with tremendous success. If you...
The Blessings of the Black Economy
Some call it the "unofficial" or "informal" economy, others call it the "grey economy" but the old name fits it best: the "black economy". In the USA "black" means "profitable, healthy" and this is what the black economy is. Macedonia...
The Secret to Marketing with Trade Show Display Units
Do you want to make your trade show displays attractive and standing out? Do you lack information regarding how to make your trade show displays a success? Forget all your problems because we are providing you here the best tips for how to take...
Use these 130 plain-English agreements
Early understandings make for the longest relationships.
- Alan Dohrmann
Don't let legalese get in the way of a good deal.
Most contracts are often written with complete disregard for the potential emotional impact of the wording. These are...
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Is There a Magic Marketing Formula? - Part 1
Copyright 2005 Attractioneering
One of the biggest mistakes that I see small business owners
make is to spend their money (or time) on marketing or
advertising, not get the results they want and then conclude
that marketing doesn't work. Or they keep on spending their
money and time on advertising, despite their lack of results and
convince themselves that it's "raising their profile". (In
reality, it's probably just money down the drain.)
The main reason that their marketing doesn't produce the results
that they want is because they've usually missed out or half
done one of the ingredients of their "marketing formula" or are
doing things in the wrong order. Getting your marketing right is
a bit like baking a cake - you need the right ingredients, in
the right proportions, added in the right sequence and baked at
the right temperature.
What can a good "marketing formula" do for you?
A good marketing formula can help you to:
* raise response to all of your marketing activities so that you
have more leads in your pipeline for the same investment * make
your marketing profitable (as it should be!) rather than an
expense * secure more sales from the presentations you do and
the appointments you attend
Once you've worked out your formula, most of your campaigns will
be successes and you can use your formula over and over again to
continually reproduce outstanding results.
To illustrate the point, one famous marketer claims to have done
a direct mail campaign that got a 100% response! In other words,
everyone that he sent his letter to bought his product or
service. Now, that is unheard of in a world where a 3% response
rate is considered to be good. Another marketer claims to turn
98% of all telephone consultations into business (and 40% is
generally considered to be doing OK in her field).
These people have got their marketing formulas highly tuned and
working very hard for them. Can you achieve the same results?
Well, you may not ever achieve a 100% response to a mailshot,
(that was probably an exceptional case) but you can certainly
improve the performance of your marketing and start making it
pay once you know and understand the ingredients of marketing
success.
So what are the ingredients and steps of a good "marketing
formula"?
Your marketing formula is comprised of two parts:
The ingredients:
This is really the foundation of your marketing - it's
the
groundwork that allows whatever marketing activities you
undertake to actually work and give you good results. The
ingredients are:
* a very clear target market (preferably one that is hungry for
what you offer) * a thorough understanding of your target market
- what concerns them, why they would buy your services, what
motivates them and how you can identify and locate them * a good
value proposition (the tangible outcome you deliver) * an
irresistible offer * an understanding of the competitive
landscape and where your company fits in (or in other words -
your differentiation and your positioning) * a strong,
client-attracting message
You can have brilliantly executed marketing, but if the
ingredients are wrong, then you're either going to attract all
the wrong types of people, or attract multitudes less than you
are really capable of. Either way, you would be wasting your
marketing effort and budget.
The steps:
These are the steps that you take to implement your marketing,
and the sequence you move your potential buyers through en-route
to them becoming loyal clients. These include:
* the strategy you use to get your compelling message in front
of your target market * where and how you place your message for
maximum impact in the budget you've allocated (your message can
be delivered verbally or in written form) * the timing of your
message * the steps your prospects need to be taken through to
turn them from strangers into paying clients
A weakness or failure at any of these points will lead to
reduced response and lowered conversion rates - and that means
weak results and wasted investment. It's somewhat like a chain -
the system fails at the weakest points, so all points have to be
as strong as possible.
So if you want your marketing to succeed, you need a good
formula - the right ingredients combined in the right steps.
Just like baking a cake - if you do things in the wrong order,
or miss steps out, you'll end up with a result you didn't want -
a burnt cake, a cake that's rock hard or biscuits instead!
In part two of this series of articles I'll discuss the
ingredients in more detail - so look out for it in a couple of
weeks. :-)
About the author:
Jane Hendry helps professionals, consultants and coaches to
create marketing systems that easily and consistently attract
their ideal clients. To get your f*ree Attraction Marketing
Starter Kit please visit http://www.attractioneers.com
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