Crafting Your Marketing Plan (Part 1)

bytimeandmoney

1.1K followers

11 years ago

Contrary to popular belief, a marketing plan is not some cumbersome thesis statement size document that takes years to research and compile.

And here, I am going to show you how to create your own 3+1-Step BASIC marketing plan quickly!

And because there are 3+1-steps to this, I will be breaking down each step for you over the next 4 days, 1 at a time, so you can follow along, and thoroughly complete each step.

Remember, in business, it is all about implementation of the knowledge you receive.

Step 1: Identify Your Target Market

Ask your self, WHO is your target market?

Who are the people you are trying to reach? Don’t shortcut on this one, because if you are vague in WHO you want to sell to, HOW you reach them will seem virtually impossible. So be crystal clear.

Demographic type questions;

What is their occupation? How old are they? What type of income do they make yearly? Where do they live? What educational level have they attained? And so on.

Answer those, clearly and precisely. Be very specific. Everyone does not need nor want what you have, even if YOU believe they do. Marketing is about what THEY want and supplying it to them, NOT about what you think they should have and trying to convince them they need it. Big difference. People who grasp this succeed while the rest do not.

Psycho-graphic questions;

What are their interests? What hobbies do they enjoy? What books and magazines do they buy and subscribe to? What have they previously purchased that is similar to what you are offering them?

The answers to these questions will help you identify what people like and don’t like. The answers will help you see if there has been a pattern in buying solutions like the one you provide to help them solve the problem they have. These answers can even assist you in recognizing your target market’s beliefs and morals…even the dreams they have.

Keep in mind…no matter what…Trying to sell to everybody is actually selling to nobody!

So resist the temptation of simply going with “Everybody” as your target market.

What are the major problems your market is facing?

Here, the best way to complete this task is to think of 10 problems your target market has.

For example, if you were targeting people looking to start a franchise, and wanted to sell them a different type of business, you might recognize that 1, in franchising, the initial investment costs are usually pretty steep, well into the 6-figures just to get started! Another problem may be that there needs to be an approval of assets by the company itself..meaning that if the person’s financials aren’t in tip- top shape, they could possible be denied. And so on..

But think of your target market and what they always complain about, what they are always asking questions about. That is how to best create your list of 10 problems.

What are some possible solutions for them?

As you know, as an entrepreneur, we get paid to solve problems in the market place. And now that you have identified 10 problems, your job is to present viable solutions. Now, in comprising a list of solutions, think outside your offering. Think in terms of anything and everything that could possibly offer a solution.

For example, using the potential franchise owner market, a problem was the high capital investment. A solution could be that they purchase an existing offline business at a discount by finding a motivated business seller. Another solution could be that they simply start an online business for just about $5k.

People respond better when they believe you have their best interest in mind…and not just only your product as the only thing ever!

Do not be self-serving in this step. You must train yourself to think as your ideal customer is thinking so that you can better service them down the line.

Create a list of 10 solutions.

What do they want?

Now that you know your market, their problems and some possible solutions, it’s time to step into their shoes for a moment.

What is it that this market ultimately wants?

In keeping with the example at hand, I would say that our market really wants a turn-key business (which is why most run to franchises in the first place), with low-start-up, with greater returns. I would also say that they want to have another stream of income generated without them necessarily having to be present.

What people are struggling with, coupled with what they want, is where you become the middle man..the marketer..the one who shows them a better way.

Nailing down a list of 10 things your market really wants will give you the ammunition to give them a solution tailored to HOW thy want it and can best receive your solution.

Having a clear vision on who your target market is as well as the problems and potential solutions for that market is important because it helps you to KNOW WHO you are talking to and WHAT it is they are actually looking to solve. Knowing what they want helps you give it to them!! Simple as that.

Once you have Step 1 completed, you will be ready to craft out Part 2..which is The Message!

See you tomorrow!

To Your Success,

Phyllis Jordan
http://FreeLifeMovement.com