Happy Monday everyone,
This week I thought I’d run a series on marketing aimed at all the mama’s out there building businesses on their own terms. That is, working at home while bringing up their families and also killing it at building a successful business.
Marketing is the key to success with many businesses but none more so than MLM, or Digital businesses so whether you’re holding product parties or sourcing leads online this series will be of benefit. I’ll run a blog post each day with some background and useful hints and tips.
If you have any questions, please feel free to use the comments or email me directly on email@example.com
Day One – Monday
Basics of Successful Marketing
There are loads of different approaches to marketing but all involve the same basic elements. With all the shiny objects and new technologies we have available to play with today, the fundamentals of marketing – online or off – are often forgotten. When you keep these principles in mind, marketing is much simpler and you’ll be more successful in your results. So back to basics.
Know Your Target Market
Successful business all starts with your target market. Who are your customers? Identifying and getting to know your audience is the first and most important step. Failing to define specific target customers is one of the most common reasons businesses never thrive. The mistake they make is that they start with a product, offer, or niche they think is interesting. Then they try to find a market for it. You have to work the other way around. It feels counter intuitive but knowing who you are selling to is the only way to find them.
There are zillions of ways to identify your target market. Most of them involve a bit of FB or google research, or talking to your existing customers.
- If you’re already running a business, look at your current customer base or your competition’s.
- If you haven’t launched your business yet but you have an idea of the niche or type of product you’d like to work with, look at who is in that niche and what they are buying.
- Use the web to find out what kinds of people are participating in forums, groups, and social media sites in your niche.
Feed the Hungry Crowd
Once you know your market well, it’s easy to get an idea of what they want. The second step in successful marketing is to either create or find products that they need. If you know how to listen, your target customers will tell you this. Look for areas where there’s demand but a gap in the market – where no one is providing a solution to people’s most urgent needs.
Typically, this is done the other way round we kind an amazing product then look for people to sell it to. Rather than finding a group of people with a genuine need and servicing that need. Think about the app market as a great example for that, less so now, but when it first popped up “There’s an app for that” was a catchphrase. Developers were plugging the gab for what smartphone users wanted/needed with apps and making millions.
Delivering the Goods
So, you have your hungry crowd and the product they’re desperate for, your next challenge is to figure out a way to put it in front of them. If you’re marketing offline, you need to communicate with your target market and make your offer. This often involves face-to-face or physical contact. Online, you create a website. This is the ‘home’ of your product or service.
And, in an age where delivery can be within the hour delivery of the goods whether online of offline quickly and efficiently is critical. Amazon has raised the bar on delivery of items same and next day, customers expect excellence in this are and are quick to criticise when they their expectations are met. 2
Up until now, we’ve covered the basics of marketing and these are fairly universal. When it comes to promotion methods, there is an endless array of options. This is where people get confused by the many different choices.
Offline promotion methods include advertising in print or on television, hosting or sponsoring events, promotional items, coupons, direct mail and networking in the community. To promote your product online, people usually start with search engine optimization (SEO) techniques. You may also build awareness of your brand through social media sites, an email list, promotions, blogging, or similar methods.
Be honest, how many different methods are you using right now? And, similarly honest how many are you monitoring? I guess you’re trying out everyone until find the right one, correct? You’re all reading this blog post online, probably via FB or Twitter so I’m guessing you’re all trying social media as a method of promotion?
Is it working?
The Right Mindset for Successful Marketing
With all the options for promoting your business, try not to get overwhelmed. Simple is always best. The key to successful marketing no matter what methods you use or products you promote is to keep it focused on your prospects. Always start with what they need and want, and work your way back to your offer from there. If you know them well, provide what they want and promote it where they can see your offer, your success is assured.
So, how many of you are set-up for success.
I mean, have researched and found your ideal customer, identified their needs, found products that service their needs and are consistently delivering value to them.
How many of you are sending out highly targeted promotional messaging to your customer rather than spammy generic recruitment or ‘buy-me’ ads.
This coming week we will look at a few of these areas in more detail.