Posted by : Amanda Stein Friday, December 14, 2012
You can break your marketing down into 8 aspects that must be considered if you want to effectively market your business. Each of these should be considered at the outset of your marketing planning to maximize your efforts, your budget, and your results. There are 3 Primary M’s and 5 Secondary M’s, the Primaries are crucial to your marketing. Leaving out any of these will cripple your marketing. The Secondary M’s aren’t quite as important but can still either accelerate or restrain your marketing, so ignore them at your own peril.
1. Message – You need a message that speaks to your “Perfect Customer”. One that addresses their biggest needs, or pressing problem. Your message should cut through your competition’s offer and tell your perfect customer why they should do business with you instead of your competition or do nothing at all.
2. Market – This IS your “Perfect Customer”. If your perfected message is conveyed to the wrong audience, that message is wasted. Know who your perfect customer is, know as much as you can about them, know what motivates them. This is who you are speaking to, know them.
3. Media – If your message has been crafted for your perfect customer, but they never see/hear that message because you chose the wrong media, you wasted your money and work. The media you choose is just as important as what market you choose and the message you convey. Choose media wisely.
4. Modify – We should consistently try to improve our marketing. Changing only one ingredient at a time, testing if that change improves your response, can eventually give you the most effective marketing possible. If you keep improving your marketing you will continue to see better ROI.
5. Multiply– Multiply your marketing by employing referrals. Word of mouth marketing is the most effective but the hardest to achieve. Employ social media and testimonials to help you customers tell their friends about you, you can’t buy word of mouth marketing but you can help it along.
6. Machine – Create a system that does your marketing for you. Schedule time every week for marketing, use companies like InfusionSoft and HubSpot to automate certain pieces of your system, form habits that further your marketing efforts. Give yourself the best chance to succeed by forging a marketing machine that automatically reaches your customer.
7. Money – Your marketing’s purpose is to generate income, right? How many times have we created a campaign and never seen a response or evidence that it ever happened. If you can’t see a profit from your marketing, it’s time to start changing things. Your marketing should equal increased revenue.
8. Measure – The only way to know if you made any money, multiplied your marketing, or reached any customers is by measuring. If you don’t measure the response of your marketing, it’s not marketing. You are basically throwing money away. Without measure you won’t know what to improve, or how successful you are.
While you are in the planning stages of the 2013 marketing calendar, take a minute to consider the 8 M’s of Marketing. When you do I am sure the results will surprise you. Start with the primaries, but keep the secondary M’s in mind while you make your plan.
Written by Mark Combs. If I can help in any way - MarkCombs@Cre8iveDept.com