Think about who you are, who needs what you do and how to get their attention.
By John Jantsch, Entrepreneur Magazine
One of the most powerful strategic planning tools your business can possess is a marketing plan. I'm not referring to an academic exercise found in college marketing textbooks. Your marketing plan should be a simple (in some cases, one-page) document that specifically answers who you are, what you do, who needs what you do and how you plan to attract their attention. It's a combination of the planning process and the completed action plan.
Follow these seven simple steps to build the perfect marketing plan:
Step 1: Narrow your market focus. Try to describe your ideal customer in the narrowest and most detailed terms possible, as though you're describing him or her to a referral source
Step 2: Position your business. Figure out what you do best and what your target market wants. Maybe it's how you serve a niche or package your products. If you don't know what it is, call up three or four of your clients and ask them why they buy from you. Craft a core marketing message that allows you to quickly differentiate your business.
Step 3: Create education-based marketing materials. Recreate all your marketing materials, including your website, to focus on education. Make certain every word in your marketing materials speaks of your core messages and to your target market.
Step 4: Never cold call. Make sure all your advertising is geared toward creating prospects, not customers. You must find ways to educate before you sell. Your target market needs to learn how you provide value in a way that makes them want to pay a premium for your services or products. You simply can't do this in a 3-inch-by-4-inch ad. Your ad must get viewers to ask for more information. Then you can proceed to selling. Determine all the ways you can get your education-based messages in front of your narrowly defined target market.
Step 5: Earn media attention. Create a list of journalists who cover your industry or community, and build relationships with each by becoming a reliable resource of information. Plan out an entire year of new items you can promote by season or event.
Step 6: Expect referrals. Create a referral marketing engine that systematically turns each client and referral network into a kind of unpaid sales pro. You must instill a referral marketing mind-set into your business's culture. Do this by making every customer a marketing and referral contact. Map every contact and build processes that focus on referrals.
Step 7: Live by a calendar. After you complete steps 1 through 6, determine what you need to do to put them into action. Then create an annual marketing calendar, noting the required monthly, weekly and daily appointments necessary to move your plan forward.
Showing posts with label target market. Show all posts
Showing posts with label target market. Show all posts
Monday, November 9, 2009
Friday, October 30, 2009
Stretch Your Dollar With Horizontal Marketing
Partnering with a company that shares your target market saves you time and money.
By Sarah Pierce
It's not an offer you see every day: "Buy a House, Get a Free Electric Car." But that's exactly why Chris Schneider, owner of Honda Motorwerks, in La Crosse, Wisconsin, decided to use such an attention-grabbing sales tactic.
Schneider, 51, has been selling environmentally friendly cars for 30 years, but it hasn't been easy to persuade people to make the switch to alternative-fueled vehicles. Over the years, Schneider has tried many tactics to woo more people into buying energy-efficient cars, but it was teaming up with the real estate agent for his "free car" stunt in July that made the biggest impact.
"It certainly gained a great deal of attention. We did this on a Friday morning, and by Friday afternoon I had already received three messages from people interested in the car," he says. So far, no one has purchased the house, but foot traffic at Schneider's dealership has noticeably increased.
Schneider has learned what many business owners have: Horizontal marketing--two businesses with different products but similar clientele join marketing efforts--is a smart way to increase your customer base without increasing your marketing budget.
"Horizontal marketing is easier and cheaper than just about any other form of marketing," says Shel Horowitz, author of Principled Profit. According to Horowitz, competitors can become some of your best allies.
"In the case of horizontal marketing, a competitor might be someone who overlaps with you but doesn't duplicate your offering exactly," Horowitz says. "Both of you benefit by being able to offer a wider range of services and by pleasing clients who might otherwise have felt a need to go elsewhere."
Of course, you don't have to give away an expensive product like Schneider did to please your customers. There are many innovative ways to market your products and services by getting together with another business. Here are three more creative and cheap ways to jump-start your own horizontal marketing campaign.
Cross-endorsement. "If you're a small company without much brand identity, you can ride the coattails of a stronger brand by offering them some type of promotion for their customers, whether that be a product, coupon, etc.," says Denise Patrick, vice president of creative services for Pierpont Communications. "For example, let's say you own the local miniature golf park. Offer the big movie theater in your neighborhood a ton of 'Buy One, Get One Free' tickets. It's a free gift for the movie theater, credibility for you and access to all the teenagers looking for a fun place to take their dates."
Dr. Desiree Edlund, founder of OC Back & Body Doctors, a chiropractic office based in Irvine, California, that offers acupuncture and physical therapy, has been cross-endorsing with a neighboring gym for seven years. Edlund, 37, offers gym members discounts on services and periodically stations a representative in the gym offering free on-site body fat analyses with the results written on her business card.
"Working with the gym has worked out very, very well because the type of people who work out are people who care about their health and wellness, which is exactly the type of customers we like and who like us," Edlund says. "The discounts pay for themselves in repeat business."
Spread out the cost. Patrick encourages neighboring businesses to "think mall" by turning your businesses into a destination "buying experience."
"For example, say you're a bookstore owner located in a strip center along with a children's clothing store and a discount linens store," she says. Together, you can create 'Build a Fort' afternoon for children. The linens store provides the sheets for the forts, the children's store provides costumes and you host a reading."
Offer a full-service brand experience without increasing your overhead. What other services would your clients like to receive? Michael Hart, a small-business marketing consultant for over 20 years, helped one of his clients reach a wider range of customers through a simple horizontal marketing tactic that any business can use. Hart helped a heating and air conditioning company recruit eight other businesses that had similar clientele to be featured in a full-color, 10-page home services coupon catalog. The businesses in the catalog all offered different services--termite and pest control, lawn care, carpet cleaning--but they all marketed to the same type of customers.
"Each vendor increased sales by 20 percent or more, reduced their advertising and mailing costs, and expanded their client base eight-fold," Hart says about the catalog's success.
No matter what type of business you have, there are creative ways to increase your clientele through horizontal marketing. From product giveaways to coupons and discounts, you'll be able to stretch your marketing dollars further by forming a friendly alliance with other businesses in your area.
By Sarah Pierce
It's not an offer you see every day: "Buy a House, Get a Free Electric Car." But that's exactly why Chris Schneider, owner of Honda Motorwerks, in La Crosse, Wisconsin, decided to use such an attention-grabbing sales tactic.
Schneider, 51, has been selling environmentally friendly cars for 30 years, but it hasn't been easy to persuade people to make the switch to alternative-fueled vehicles. Over the years, Schneider has tried many tactics to woo more people into buying energy-efficient cars, but it was teaming up with the real estate agent for his "free car" stunt in July that made the biggest impact.
"It certainly gained a great deal of attention. We did this on a Friday morning, and by Friday afternoon I had already received three messages from people interested in the car," he says. So far, no one has purchased the house, but foot traffic at Schneider's dealership has noticeably increased.
Schneider has learned what many business owners have: Horizontal marketing--two businesses with different products but similar clientele join marketing efforts--is a smart way to increase your customer base without increasing your marketing budget.
"Horizontal marketing is easier and cheaper than just about any other form of marketing," says Shel Horowitz, author of Principled Profit. According to Horowitz, competitors can become some of your best allies.
"In the case of horizontal marketing, a competitor might be someone who overlaps with you but doesn't duplicate your offering exactly," Horowitz says. "Both of you benefit by being able to offer a wider range of services and by pleasing clients who might otherwise have felt a need to go elsewhere."
Of course, you don't have to give away an expensive product like Schneider did to please your customers. There are many innovative ways to market your products and services by getting together with another business. Here are three more creative and cheap ways to jump-start your own horizontal marketing campaign.
Cross-endorsement. "If you're a small company without much brand identity, you can ride the coattails of a stronger brand by offering them some type of promotion for their customers, whether that be a product, coupon, etc.," says Denise Patrick, vice president of creative services for Pierpont Communications. "For example, let's say you own the local miniature golf park. Offer the big movie theater in your neighborhood a ton of 'Buy One, Get One Free' tickets. It's a free gift for the movie theater, credibility for you and access to all the teenagers looking for a fun place to take their dates."
Dr. Desiree Edlund, founder of OC Back & Body Doctors, a chiropractic office based in Irvine, California, that offers acupuncture and physical therapy, has been cross-endorsing with a neighboring gym for seven years. Edlund, 37, offers gym members discounts on services and periodically stations a representative in the gym offering free on-site body fat analyses with the results written on her business card.
"Working with the gym has worked out very, very well because the type of people who work out are people who care about their health and wellness, which is exactly the type of customers we like and who like us," Edlund says. "The discounts pay for themselves in repeat business."
Spread out the cost. Patrick encourages neighboring businesses to "think mall" by turning your businesses into a destination "buying experience."
"For example, say you're a bookstore owner located in a strip center along with a children's clothing store and a discount linens store," she says. Together, you can create 'Build a Fort' afternoon for children. The linens store provides the sheets for the forts, the children's store provides costumes and you host a reading."
Offer a full-service brand experience without increasing your overhead. What other services would your clients like to receive? Michael Hart, a small-business marketing consultant for over 20 years, helped one of his clients reach a wider range of customers through a simple horizontal marketing tactic that any business can use. Hart helped a heating and air conditioning company recruit eight other businesses that had similar clientele to be featured in a full-color, 10-page home services coupon catalog. The businesses in the catalog all offered different services--termite and pest control, lawn care, carpet cleaning--but they all marketed to the same type of customers.
"Each vendor increased sales by 20 percent or more, reduced their advertising and mailing costs, and expanded their client base eight-fold," Hart says about the catalog's success.
No matter what type of business you have, there are creative ways to increase your clientele through horizontal marketing. From product giveaways to coupons and discounts, you'll be able to stretch your marketing dollars further by forming a friendly alliance with other businesses in your area.
Subscribe to:
Posts (Atom)
