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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.

By Jane Hendry Category: 0

Submit your Articles Here!

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. :-)

----------------------------------------------------
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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Is There a Magic Marketing Formula? - Part 1

Copyright 2005 AttractioneeringOne of the biggest mistakes that I see small businessowners make is to spend their money (or time) on marketingor advertising, not get the results they want and thenconclude that marketing doesn't work.

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.