One Element Required to Grow your Business!

the_parthenon_in_athensWithout a prospect, there can be no sale!  A well conceived marketing plan is the way you attract prospects.  Too many small and medium business owners just allow “marketing stuff” to happen vs. developing a thoughtful, written, actionable marketing plan.

REMEMBER.  Marketing is to attract prospects!.  Prospects turn into Leads.  Leads turn into potential clients and potential clients after presentation turn into Clients!  IT ALL STARTS WITH MARKETING.

If you want to build your business the first item I look at is show me your monthly, quarterly marketing plan.  without one I understand why the business is not growing.  So to motivate and provide first steps to growing your business is to begin the action to develop a monthly marketing plan and work it.

There are seven basic elements to be taken into account when designing your marketing plan.  These seven apply to all industries, all businesses and are universal.

They are:

  1. Product
    • The goal here is to have complete clarity on Exactly what do you sell?  A common mistake made by business is to define their product in terms of what it is.  “We manufacture photocopying equipment” or “We offer legal services” or “We do HVAC” or even “We provide marketing services”.
    • Let’s be honest with ourselves.  People do not CARE what you do. They care what your product or service DOES FOR THEM.
    • Answer the questions:  “What need is satisfied by my product?’ or “What problem does my product / service solve?”
  2. Price
    • On price you need to understand who sets your price?  It is NOT your customers.  It is NOT you.  It is your competition.  Your price for your service or product is 100% attached to how well you can differentiate your product / service from your competition.
  3. People
    • The first people aspect here is your customer.  Success in marketing to prospects is to know your potential customers needs, desires, wants, status, motivations, etc.
    • The second people aspect here is your sales people.  It is critical that your sales team (be it YOU, your internal team  or outsourced) interact with buyers profile.  Unable to do this means risk in establishing a rapport.
    • The third people aspect is Customer support.  Once a sale happens, you need to have a process, policy something to address customer support issues.  Too many business owners just “deal with it” as oppose to having a solution.
  4. Promotion
    • This element is where you determine how you are going to let your prospects know about you.  There are a few options for you to consider:
      • Print Advertising
      • Online Advertising
      • Direct Mail
      • Telemarketing
      • Facebook
      • LinkedIn
      • Newsletters
      • Networking
      • Speaking events
      • Sponsorship of events
  5. Packaging
    • For those businesses that offer a product the packaging or what it looks like is important.  Perception is everything.  Physical packaging, electronic packaging  anything that shows off your product or service is what provides first impression.
    • Some items to provide this impression are:
      • Color
      • Clothing of your sales team
      • Quality of your printed material
      • Quality of your electronic material (website, Facebook)
  6. Positioning
    • In all marketing the message needs to position you, your product/service from your competition.  To do this answer the questions prior to writing your copy.
      • What can you say that drowns out all other commercial messages out there?
      • What are the hot buttons and how can you push them?
      • What is the need your product / service is addressing?
      • How are your addressing it?
      • What benefits do they receive from your product / service?
  7. Place
    • Finally where you sell your product / service can have a profound impact on your success.  Every effort should be made to ensure that eh location where you conduct business is convenient for your customers and backs up your story.
    • Example here is when I hear solo entrepreneurs tell me they work “out of their Home”.  This tells me something that this person may or may not want me to think.

In summary, growth or your business is directly related to your marketing.  You need a marketing plan that outlines how your going to get your message to prospects.  When you do this ensure you address the 7 items above.   So I challenge every small / medium business owner to have the discipline to have a documented, well defined, implementable monthly marketing plan.


By Mark R. Steinke

Elite Business Coach, Focal Point Business Coaching of Pennsylvania