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5 Steps to Massive Profits - A Business Marketing Tip
By Steve Majors
Here's a marketing tip to gain maximum profit from
any product or service in your marketing lineup,
and how you will gain extreme profits when you follow these
5 simple, LAZY steps;
1. Look not at what you are offering through your
marketing efforts - look at WHO WILL BUY your
product/service. Make a picture of your 'typical buyer' -
who they are, their age, what they like to do, etc.
This is often known as the 'target market prospect', yet,
the more detailed you define this 'target' in your
marketing, the better.
I've even gone to the point of giving this 'target market'
person a name and put a picture up on my computer monitor
(find a 'friendly face' on the Internet somewhere and 'tag'
it as your target market prospect) - get your
marketing centered around every aspect of your target - the
more you know them, the easier it is to chat about what they
need.
2. Develop a list of your target market prospect's likes and
dislikes as it would relate to a product/service similar to
yours. (You'll get a 'third party' look at your competition,
as well as some inside looks at their marketing
efforts.)
Consider some questions they would have, or some typical
objections to buying this similar product/service (this may
come from your previous research, or you may have to simply
do some).
One way to personalize the marketing research of
your 'target market prospect' is to 'role play' - think
about your prospect as a good friend that you are having a
picnic with (or even a co-worker at the water cooler, etc.)
and in passing, your friend brings up that 'similar'
product/service.
What do they say about it?
What are their questions/concerns?
Is there a 'running joke' about the competition's
product/service that defines a hole in their
marketing? (i.e., "Did you hear about the lady that used
X?")
All these things need to be addressed, and documented.
Let your mind be creative and wander, but
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keep it to a time
limit - about 15-20 minutes per marketing 'play'
session. Think of nothing but this 'conversation' during
this creative (often fun) time.
It might even be helpful for you to say everything that
comes to mind out loud during these marketing
planning sessions(as silly as that sounds, it works...) and
record it, as some of the best marketing ideas get
overlooked when you are trying to write them down quickly.
Listening back for those 'nuggets' might even trigger other
'bits of marketing gold' for you to work with.
3. Figure out how your product/service and
marketing plan is similar, yet different than the
competition. Just how does your solution overcome all the
questions, concerns and yes, even 'jokes' from your target?
If you can't answer these questions for yourself, how would
you expect to answer them from your prospect?
The beautiful part about this marketing exercise is
that, if you go through it with commitment, you will already
know the answers to the prospect's questions BEFORE they ask
them - which quickly eliminates any fears you might have
about talking with them.
4. Continue this simple exercise - every couple days for a
week or so. Giving 15-20 minutes of serious thought to your
business marketing plan and role playing every couple days
will stimulate your conscious mind, as well as keep your
unconscious mind actively thinking about it.
You'll be surprised at the outcome of taking these steps
seriously.
But be forewarned - you will very likely have a very
different outlook about your prospect after one week of this
simple, yet extremely effective marketing, 'target
market' finding tool!
You will know them as well as you know yourself, so you will
be able to talk with them about things quickly, simply and
with the best, consistent results of your marketing
efforts.
5. Now, take a look at your product/service and
marketing plan - through the prospect's eyes (now that you
can clearly see through them...)
Does it fit your prospect's needs?
Does it answer their questions and eliminate their fears?
Is it priced right for your target prospect?
Is there a market for your product/service other than your
personalized target market prospect? (This step is vital as
a 'reality check" - and one that many marketing
planners miss)
When you follow these five steps faithfully, you will have
credibility, knowledge and successful long-term
relationships with your customers (who used to be simply
'target market prospects' before you understood the power of
this marketing tip!).
Steve Majors - To-the-point training and coaching for business and wealth creation through creative Real Estate investing. Known as "The Lazy Investor", with courses and training sessions to slingshot your success. SteveMajors.com
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