Every new product, software, system or process must have a purpose. It must solve a problem or else it has no value and no one will buy it. By deeply understanding the problem your product solves for your customers, you can stay focused on what features will deliver the most value.
For example, if I was designing a new computer keyboard, I would need to consider...
Likewise, you must always stay focused on your marketing's purpose.
Who's it for?
The first step is to make sure you know exactly who it is you want to attract to your business.
Your business needs customers who are going to:
That's why one of the first questions I ask a new client is 'who is your ideal customer'?
If you spend a bit of time thinking about exactly the kind of person you want to attract, then you'll find that a lot of your marketing questions become much easier to answer. You'll know where to advertise, which events to go to and whether to be on social media, because you'll simply have to ask whether your ideal customer persona will be there.
You might find this checklist helpful when creating your own ideal customer persona.
Why do i need marketing?
Many people think that the purpose of marketing is to "get your name out there" and create leads, but that's not the whole picture.
The purpose of marketing is to drive sales and profit. Generating leads is one way of increasing revenue, but it's not the only way and it's by no means guaranteed that more leads = more sales.
At this point, I need to introduce you to Watertight Marketing. It is a brilliant methodology created by Bryony Thomas and described in her award-winning book. I am licensed and Accredited with Watertight Marketing, and the reason I use this powerful tool with many of my clients is because it is structured and methodical – just like good marketing should be.
If the aim of marketing is to increase sales and profit then we need to understand how the buying process works.
How do people buy things?
Watertight Marketing is based on fundamental psychology of how people buy. A few decades ago Philip Kotler described the way people buy in a model that many people now call the “Sales Funnel”. You might already be familiar with it. It looks like this.
When is a funnel not a funnel?
The Sales Funnel is so called because, if you put numbers in, you find you have a lot of people at the top and fewer and fewer as you go down.
It LOOKS like a funnel.
But it doesn’t ACT like a funnel.
Let’s face it: it acts more like a colander.
The other problem with it being called a “funnel” is that everyone always focuses on pouring more in at the top. If you're spending money promoting your business (i.e. generating awareness) but most of those people are leaking out before they reach adoption and loyalty, then you are wasting money on marketing.
The purpose of your marketing
The purpose of good, effective marketing is to support your customers at every step of the sale. Your marketing should help your customers make their way through the funnel in their own time and in such a way that when they do finally buy, they know they have made the right choice and they feel good about the decision they have just made.
If you are supporting your customers effectively at every stage in the sales funnel then, when you spend money on generating awareness, you will be confident that it is money well spent.
This is the essence of Watertight Marketing and has been proven across hundreds of businesses of all sizes and in all sorts of industries.
What's the point of marketing?
A lot of people think that marketing is about speeding people up in their buying decision – it's not. It's about understanding how people want to buy from you and supporting their buying decision in their own time.
If your marketing isn't working for your business, please get in touch. I'd love to hear from you and see if I can help.
This blog is taken from the soon-to-be-published ebook, "How to Engineer Your Marketing". If you'd like a copy when it's released, sign up for my monthly newsletter and you'll be the first to be sent a copy. (You can unsubscribe at any time)
The key concepts, frameworks and illustrations that form part of the Watertight Marketing™ methodology remain the intellectual property of Watertight Marketing Ltd and are used with permission and under license. You can download a free digital copy of the book, Watertight Marketing, here: www.rosconkie.com/wmfreebook
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