Too many people start their business with out knowing how they are going to market their new business. Your marketing strategy is probably the most important element of your success strategy. Because you cannot sell a secret, people need to know about you.
A friend of mine recently set up his own business. It was an air conditioning installation business. He spent a fair amount of money on establishing his company, getting all his insurances, getting a website built and even having his van covered in sign writing. If you asked the layman, they would say, “sounds like he did everything right”, but he left two very important elements out.
- The first was, he didn’t assess the market to see if there was a need,
- and the second and ultimately fatal element was he sat on his bum and waited for the work to come in, which it didn’t.
The end result, his business was closed down in 8 months. He started to become desperate and started charging people unrealistic rates for the little work he had. This was never going to end well, and it didn’t.
So this article will run through how to build an easy marketing strategy with two basic elements. If you choose (remember, the decisions you make today will impact you and your business within 3 months time) to neglect this part of your success formula, there is a fairly strong chance that in three months you’ll be the same as my friend.
In the Wolf of Wall Street, Jordan Belfort (played by Leonardo DeCaprio) holds a pen up and says, “Sell me this pen” to one of his friends. His friend turns to him and says “Do me a favour, write you name on that napkin there”. Dicaprio, says “i don’t have a pen” and then they talk about supply and demand. One of the last scenes of the movie, DiCaprio is in a sales conference and he was up to punters in the audience and says, “sell me this pen”. One after another punters grabbed the pen and said things like , this is a shiny, good quality writing implement, the ink won’t smudge, it fits nicely in the hand etc etc etc.
All of these were features of the pen, they didn’t address the users need. If one of them said something like “Mr Belforte, you’re a successful man. What are your goals for next year, how much business are you planning on writing? To do so you’re going to need a pen you can rely on, because there is nothing worse than not being able to close a deal because your pen isn’t working – BOOM! Pen sold!
Why? Because he was helping solve a problem.
When you are assessing your market, what problem are you solving? If we go back to my friend, he was just another air conditioning installer in the local area. He didn’t know what the market wanted, but they certainly didn’t want “another” air conditioning installer.
Step 2. Where is your market?
So once you have identified who your market is based on what problem your solving for them, you need to identify where they are, what do they read, where do they hang out, etc. and once you know that you can strategically position yourself in front of them.
Think about a game of rugby. There are 26 people on the field. Your job is to defend your line. If you know your opponents well because you have studied them, you can position yourself in front of the play.
It’s exactly the same in marketing your business. You need to strategically position yourself I front of the play so you can’t help but get caught up in it.
Then you need to address the second failure of my friend, you need to get off your arse and make it happen! You can have all the tools in the world but if you don’t use them continuously, you are pretty well stuffed. This business thing isn’t easy, it’s hard work and requires you to be pushing yourself every single minute of every day until you get to the stage where the business is running itself. Then and only then can you take your foot off that accelerator.
In summary, a very basic marketing strategy is
- Identify your market
- Identify what need you are solving
- Identify where your market hangs out
- Strategically position yourself in front of the play
- Get off your a**e and make it happen, not once, twice or three times, CONSISTENTLY until your business is running itself.
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