Marketing and Promotion 101 – What Are You Doing, Is It Working And How Are You Doing It?
What is marketing?
It is the action of promoting and selling products or services which includes research and advertising. Sounds simple really doesn’t it. But it can be very costly and stressful, so, I decided to put together this post for you to help you out a little and even perhaps save you some money and hair.
Now, they say that we need a great mix of marketing to become successful at promoting your offers. So I thought I would go over some of the most powerful areas I have found to be most beneficial to my efforts. What we have to look at is – where our time is being spent and if that time is productive and this way we can tweak or change our efforts accordingly.
What I have found is that – when you start out marketing you can master 1-2 areas and become great them and these will pay you back. But, if you flirt with many areas but master none then chances are that your efforts may be in-vain. Let’s start by looking at what marketing really means and what you need to know now.
Marketing is always changing to deliver the needs of the customer/client behaviour so, the marketing efforts can reflect the habits of potential buyers. This can be a mixture of paid and free marketing, online and offline and all have their merits. For example, this blog post is free for me to create, yet with the right keywords and message it can reach the right people to read it and my job is done. But it’s just the beginning of the process!
From being on my blog I will need potential subscribers/readers to read the content and click on the link I have included at the bottom and this is so that I create value and then lead them to more of what I offer. So essentially this is a process or journey enticing potential buyers to bond with me and trust me creating an initial connection. And so they may go further into the process. Are you doing this? if so, how are you creating an attractive offer? And why will readers or buyers come to you? Let’s look at some of the key fundamentals of marketing.
As I touched on by having a mix you can see which areas perform the best and then fund those areas or create more content in those areas. A mix allows you to do this and to measure your results so you can spend your time and energy in the right areas. I was recently creating Facebook ads for my webinars so that I could reach high end targeted people looking for coaching So I had to test different ads and see which ones performed the best. And from there I could spend more money on the higher performing ads. By doing so I acquired many hits to my webinar link some of which filtered through and actually watched the webinar and out of those a small percentage filled out my acuity scheduling tool at my website to apply for a free strategy session. At £1500 my 1on1 coaching is only bought by certain people and people whom I love to work with so, I was looking for those people. By trying various types of marketing I could see which most converted into sales. By the way this mix involves price points (what are they prepared to pay you for this?), timing, placement and having the right product or service otherwise EVEN though you are targeting the ‘right people’ you could still fail I am afraid to say. This all begins with the demand from the right group of people.
This leads me to strategies. Now, you could easily begin by planning various strategies which is great, but, this can also be a nightmare because it is easy to try a million things and spend a ton of money without any return, however, your strategy may come from first trying out the mix. That’s why I personally prefer to mix it and then create a solid strategy based on findings. Some will create a strategy and go with it before anything else, which is ok except ‘what is this strategy is really bad’? That’s why testing first is key in my opinion. In simple terms why waste time and money on a strategy that could be totally off? It’s a but like creating a product without first conducting research to ascertain what potential buyers or customers actually want.
Marketing and Promotion 101 – So, my tip is this – find what you need and works for you and apply it or outsource it. Try something for a week, test it, go deep and narrow and then scale it or replace it with another channel for promotion.
This is essentially a company philosophy whereby the goals of that company may be best achieved through identification and satisfaction of the customers stated and un-stated needs and wants. Ok, however, customers buy fears and passions not needs and wants, so get this right first of all. Then, decide upon how these customers are going to be best served and how. So, coming up with a powerful concept for creating a great product or service is crucial and this will allow you to get to the right buyers quicker. This is where the research comes in and has to be understood. This concept could be in the way of new or fresh ideas or innovation on existing ways and this could be make or break for a company or business. So defining the right concept is vital to your growth.
Your plan can be created using downloadable templates online fairly easily. The key is to create a professional and well thought out plan and as you create it you will want to devise a check list so you know you are covering all of the necessary areas. For example, the plan could be broken down into weeks, months, quarters etc so you know what work is going to be needed from your team or from you. Here is where your marketing mix can come into play in that you could use various strategies one month and then change them up the next monitoring and measuring your efforts. Your plan will determine whether you can survive or not, and it pays you literally to look at the various factors which could determine sales. Price points being adjusted only slightly can make a huge difference in the mind of a buyer for example. If you are established in your market enough then perhaps buyers will pay slightly more as they trust you and know you.
So, take this into account. So remember, when starting out you have to build trust and start with lower prices to build it. And even though it may have to be lower initially which could spell dis-trust as consumers may equate that to inferior products there is sometimes little choice in the matter. Build a strong perception of trust from the outset and you will buy the hearts of the buyers sooner. So be sure to look at costings. As you may even alienate potential buyers by having prices too high. It’s all about the mind of the buyer so, do your homework and cost in what is needed to give them high perceived value. Market share will become a factor in how well you execute your plan.
All this means is that, your efforts are created in such a way that they may be shared by others in areas such as social media. It could be word of mouth, videos, advertising, social networking or by google searches. Any number of ways both online and offline can be used here. So it is worth looking at trends and seeing where the greatest sharing is happening, Also, look at your core message and where that might most be a great fit for the marketing channel. For example, I use instagram and share quotes daily. By doing so, I am creating a fanbase of personal growth junkies and by has tagging coaching and other keywords I am attracting potential clients to my website from instagram. People are liking my content as I build and the message starts to go viral as my followers are climbing organically. This starts to become viral and presents me as I want to be presented. I acquire around 1 new client per week just from instagram and I have only organic followers. I don’t have millions of followers but they are highly targeted. So, see where you might do something like this.
It has been said time and time again that – if you don’t know your target market in great detail then chances are that you are wasting your time. And scaling your business will be near to impossible. And I would agree obviously. It’s like going to a diet class and offering cake to the overweight participants. It aint happening. So, if you are a serious entrepreneur then don’t be narrow minded in this area or it could be curtains for you. So cultivate a deeper and more laser focused understanding FIRST as you will attract the right people and this way you will waste less money and create bigger margins. And you will start to become a great value in your market area.
Now we talked earlier about timing, products and the right people and even though this may be nailed by you, you may still have to look at changing some stuff. That’s right. We are in an ever changing universe so, be prepared to change features and benefits as the demand needs it. This could be down to your competition changing something so you have to go one better or at least be unique in your approach. Again, this will come down to asking questions. What do your customers want? Why? How can you be the solution? How are you better than your nearest competitor? How will using your product or service trump others? Is your brand and message standing out enough? What is the design of your product or service and is it answering their needs? And so on.
This is also very important. This is also a large part of the marketing mix. How you will promote your products/services and through what channels. You have to position your products so that they are easy to deliver and buy. Making them accessible. And this will come as you develop your deeper drilling down narrow into your target market need. Really know them so that you can create the most efficient ways of delivering what you offer in the most simple ways for them. Distribution can vary greatly from intensive, exclusive, selective or franchising strategies. You will need to know 1) where your potential customers are looking for your products 2) Where are these people already going? 3) Do they buy more online or offline? 4) How can you access these channels most effectively? 4) How can you be different in your strategy than your competitors? 5) Is your selling strategy strong enough? 6) Where might you need to go to get in front of these people OR perhaps you need to have a stronger online presence?
This is another key factor in whether you will fail or succeed. It can really create a buzz around your brand to gain recognition and of course sales. There are various elements in the promotion process. As follows, – Sales organisation – Public relations – Advertising – Sales promotion -. With advertising it might cover areas such as TV ads, radio, print media, and online ads. Whilst the online world is super accessible these days some potential buyers are going offline for trust again. It’s a way by which buyers feel more trust from lumpy mail for example. So, you may get a flyer through your door and trust it more than an e-mail in your inbox. This is typically what is beginning to happen. Folks have become desensitised to the online stuff in many ways and with the introduction of more tangible ways of communicating and connecting WE as buyers are looking for that trust again. So be aware of this change.
I was recently featured on a local TV channel for a fitness program which was free for me. But it gave me great exposure and subsequently I received several new clients locally.
This kind of ‘word of mouth’ type of exposure is great for building that trust. it could for you be a conference, a seminar, an exhibition, or events where you can be in front of the right people. Public relations and word of mouth are both powerful platforms I have found in gaining more sales.
This can also be shared on Facebook or other social media channels so, even though the methods may be somewhat oldschool they still still have viral power. You may have social media staff or team players that can manage this for you.
Marketing and Promotion 101 – So let’s ask some simple questions now about this:
- When could be the best time to promote your product or service and with what?
- How will you be in front of the right people and with what and how are you communicating this?
- What media could be most powerful for you now thinking of costs versus time etc?
- How are others promoting what they have and what seems most effective?
- What is your budget?
- How will you effectively promote your message better than others?
Now for the marketing mix 4 c’s that are worth mastering…..
This is a model that is commonly used in the service industries
COST – The cost of the product or service isn’t the only cost incurred by the buyer. It also involves buying into a a level of conscience and opportunity comes into play so it pays to really know the mindset of the buyer.
CONSUMER WANTS AND NEEDS – Remember, wants and needs are false, it has been proven that buyers come from a place of fear or passion. A business should only ever sell based on addressing the demand. In short, all sellers need to know and deeply research these fears and passions
COMMUNICATION – Buyers may see a type of promotion as being manipulative, where as communication is more cooperative in nature. Sellers should always aim to create an open dialogue with potential buyers or customers. And of course this is based on passions and fears.
CONVENIENCE – The product or service that you are promoting should be easily available to buyers. Sellers and marketers should strategically place and position products in various calculated distribution points and areas.
These are the 4 p’s are worth knowing right off the bat also…
PRODUCT – What you will sell and more importantly what do THEY WANT?
PRICE – at what price point that is ideal for selling which competes well? WILL BUYERS THINK IT IS GOOD VALUE AND IS IT COST SENSITIVE TO COMPETITION?
PLACE – In the right place? – WHERE WILL BUYERS BUY IT? Online/offline etc
PROMOTION – How will this be promoted and why? – WHEN WHERE AND HOW WILL YOU GET THE MESSAGE OUT TO BUYERS? IS THE THE TIME RIGHT?
Marketing and Promotion 101 – Need Help? Contact me anytime below!
Having these powerful techniques is a great way to start a marketing campaign and by studying this post and as much as you can it will really help you get this stuff right before you waste alot of time and money. However If it all seems like way too much for you then get in touch with me @ www.GregDeTisi.com and I will be more than happy to help you starting out in your new idea or venture – e-mail me @ PassionCoachingTraining@gmail.com
Marketing and Promotion 101 – I look forward to connecting with you and knowing more about your exciting business ideas.
You may also enjoy this post I created for you? CLICK HERE FOR MARKET AND MESSAGE TIPS
Marketing and Promotion 101 – BONUS SECTION ON – HAVING A WELL MADE STRUCTURE & OTHER MARKETING
You will see on the diagram to the right how this all connects deeply and directly to your target market – and remember that, deep and narrow research is required here to discover whether your target market is going to be a valuable asset to your products/services. If you are going it alone then it really will pay you to outsource freelancers or hire the right team. If you have a direct team then they will need to understand fully all of these concepts in great detail in order to execute the more powerful strategies that give you a return for your efforts. You might have a support desk, VA’s, a customer service worker, content creators etc who will need to fully grasp this. Either way keep the structure water tight and small to start with.
Now you can ask – will they believe in you?
One of the greatest productivity factors is that – when buyers believe in you your staff/team will also believe in what they are doing. So, it will create a huge buzz and productivity will increase with the knowledge that what you are doing is working. It can be as simple as the fact that, you are starting to get sales which could inspire you and your partners. So, it’s vitally important all round that all parties believe in you and what you are selling. And – the fact that you are passionate and open about your business will allow your partners to honestly communicate with you about it thus creating more potential growth in various areas. So, that’s why it is important to get this right. Remember KNOW THE BUSINESS structure.
This is a distinct advantage over others in your competition area by the way and – this alone can help your business gain greater market share over others without question.
Now, you may be aware that I haven’t included online marketing, e-mail marketing or social media marketing and that’s because this is an entire post or several on their own. These are essential these days to MOST businesses. E-mail marketing alone is so powerful that it can grow you a huge following very fast when applied right. In fact, just the e-mail marketing side of things is so super important these days that if you do nothing else yourself then get this set up. No matter what business you run you can start to build a list which you can sell to in the future. What you will want to do is provide excellent and relevant value to your list using a tool like Mailchimp or Aweber or Infusionsoft. All have their merits and downfalls but they are all pretty good. Study this area and get started on this right away and you will be thankful you did in a year from now. Once you have a list and a website or blog or some form of contact you can tie in all of your marketing efforts such as social media back to your list and primary business. Look out for a training on this soon.
Marketing and Promotion 101 – So, now, what systems and processes are you using to drive your delivery forward?
Having a small, well structured system will greatly improve your abilities to deliver effectively and thus gain great profits. And by knowing the process you are using this will also help with costs so as to not over spend in areas that may not be relevant. For example, I recently got help from a sales funnel creator who helped me build my own funnels. By knowing the processes she was teaching me I was able to monitor and measure how well this performed. It could be that you have a different way of distributing your services through a payment system, or particular steps required by the buyer?
You will know what is most effective. And of course by knowing your systems, you can also tweak, test and change what is needed thus enhancing performance. This is a bit like when we split test sales pages to see which ones are most effective. By understanding this and knowing it you will learn to maximise profits and keep costs as low as possible. If you are delivering services then there will need to be tangible evidence that this has been delivered of course. And it’s touches like this that position your brand presence and establish you as the expert.
So, you want to aim to be thought of just as other well known brands are thought of and for the right reasons also. When you think of market leaders such as AUDI or BMW you may think ‘quality engineering’ for example and they have established this physical proof that they can deliver the goods. Consumer perception is everything as most people know these brands when thinking of higher end family cars. I’m sure you get the picture.
Until next time!
marketing and Promotion 101