5 Steps For Creating A Marketing Strategy That Will Produce Killer Results
Being that I’m very active on social media and blog quite a bit, I often get emails from complete strangers. While some people may consider it ‘spam’ or dislike that, I truly enjoy hearing what others in the world have to say.
One of the biggest questions that come my way has to do with marketing. Everyone has a company, product, service or idea but they don’t know how to market it. The typical email will be something like this:
‘Hey Jeet, my name is So & So. I run a company that does This & That. Our product and business is absolutely phenomenal but we are having a tough time getting customers. What marketing tips or strategies can you give us?’
If I could look at a company in 30 seconds and give them an answer on how they can acquire 100x more customers, I’d be some kind of supernatural genius. Be weary of anyone who can make you a promise like that because it’s truly impossible.
My answer to these individuals is always the same. While I can’t give you the precise marketing plan that’ll give you success, I can give you a strategy that you can implement to reach your goals. In this post, I’m going to share 5 steps for creating a marketing strategy that will produce killer results:
1. Find A Market & Focus On It
Nobody sells to the entire world. While it might seem like a glorious idea to sell your product or service to everyone in the world, it’s actually the biggest mistake you can make early on. You need to identify what segment or audience ABSOLUTELY needs your product.
Find that market and focus all your time, attention and efforts on them. To figure this out, you should start talking to potential groups of people that you think would be ideal for this product. From there, break them down by age, gender, income and any other categorizations that might help you focus your marketing efforts.
2. Understand The Best Medium To Reach Your Market
If your target market is a 13 year old female, you’re probably going to approach them very differently than if your target market is a 35 year old businessman. Once you know who your target market is, you need to know where your target market spends their time.
By figuring out where your target market is, it’ll make it easy for you to advertise or reach them. Not only can you save money by hitting them in the right spots, but marketing is all about conversions. For every dollar you spend, you want your reach to go as far as it possibly can.
3. Know Your Competition
Anytime I do consulting and help businesses find success, I always ask them for a list of their competitors. Having competition is a phenomenal thing because you can use them for a lot of valuable information. Not only can you find out how successful you can be in the industry, but you can try to figure out what worked and didn’t work for them from a marketing standpoint.
Try to snoop around to figure out the marketing that nets them the best results, which offerings are the most profitable for them and who they target. Understand their branding and ask your potential customers that you survey what they think about your competitors to better reach your audience.
4. Make Everything Customer Friendly
One of the biggest mistakes innovators often make is that they innovate for themselves instead of their customers. While something might be more functional or genius to you might not receive the same appreciation from a potential customer. Just remember, who’s the one actually buying your product? It’s your customers.
People in the world love things that are simple. The less education necessary and the simpler things are, the better your business is positioned to be successful. Constantly talk to your customers and hear their concerns so that you can constantly improve your product.
5. Always Be Evolving
When you do find the perfect marketing strategy, don’t get too comfortable. The world changes every day and it’s not the strongest or smartest that survive, it’s the ones that can adapt to change the quickest. Even if you are successful with your current marketing strategy, constantly be testing other concepts as well.
You don’t ever want to get complacent because you can always do better. If you get comfortable, you can be sure that another new competitor will come in and jump ahead of you. With marketing, trends come and go quick. Ride the wave, but jump ship just as quick.
In this post, I shared my 5 steps for creating a marketing strategy that will produce killer results. What are some strategies that have worked for you when it came to create a plan of attack for marketing your business?