Most marketing professionals appreciate that there's no such thing as a ?one-size-fits-all' approach to marketing your business or cause.
With that in mind, this lens is about offering marketing news and methods that you can use to 'cherry pick' for the benefit of your business.
I would love your comments as to what you would like to see, and also what you think of it all so far.
Thanks for reading!
How To Use The 80:20 Rule For Success
The '80:20 principle' works on the premise that there is an imbalance to the ratio of 80:20 between cause and effect, input and output, effort and reward and so on%u2026Once you can determine which 20% of what you do or spend produces 80% of your income or results, then you have an automatic, ongoing wealth system.
For instance, last year I cut down on my working hours (I was working 55-60+ hours per week), and noticed that I was much, much more productive.
In this case, I identified the 20% of activities I should spend the most time on regarding running my business (www.MediaMinister.co.uk) to produce the 80% of results.
Then I worked out which 20% of my overall marketing budget spend produced roughly 80% ROI. So I reduced the 80% of the marketing budget that wasn't bringing in as much ROI, and still got the same results!
I did the same with the type of projects I work on. Now I find that I work on fewer projects, but for bigger rewards. I'm not complaining - and my clients certainly aren't.
Copyright, T Dooley, www.mediaminister.co.uk. All Rights Reserved
The New Rules Of Marketing
The new rules for marketers demand that, if you want your audience to pay attention to you, then you have to reward them with something of value. And not after the event, either, but rather as soon as they lay eyes on whatever marketing piece it is that you wish for them to see.In other words, your core marketing message absolutely must deliver value.
This could be in the form of a free report on something that is of interest to your prospective customers. It could be a free consultation or subscription to your ezine%u2026 Anything as long as it is perceived to be of value by your target audience.
More often than not, this value will be content. Namely, the content on your web pages, or the editorial piece you published in the publication your prospects read.
So when you next update your website, or prepare to send out your new marketing piece, think, "Does this really add value for my target audience?"
If not, then rewrite it using their mindset as a point of reference.
COPYRIGHT © T Dooley, www.mediaminister.co.uk, All Rights Reserved
How Does Your Marketing Message Measure Up?
I was reading 'Hot Button Marketing' by Barry Feig recently, and realised that this was the same author who had shared a story about a new product launch that failed - initially - to impress focus groups because of the wrong marketing positioning.
The Glad-Lock Zipper Freezer Bag seal (where the yellow and blue strip becomes green) eventually went on to become a major hit with consumers.
Good job the company didn't scrap the very part of the bag that has almost become a household 'must-have' - re-sealable storage bags. Instead, they re-crafted the core marketing message (CMM) based on the potential buyers' perceptions, and launched a winner.
This illustrates a crucial area that most entrepreneurs and small businesses tend to overlook: You need to tap into the emotional mindset of your target market in order to craft a laser-sharp CMM. This means not second-guessing or assuming how your consumers will perceive your new product or service, but instead actively carrying out market research - both on your target audience and also how they perceive your product, preferably before it goes to market.
Think of your potential purchasers being inside the bulls-eye on a darts board - the better you know where and how to aim, the more likely you are to hit them (hypothetically speaking!), and in turn the more sales you can anticipate.
Only when you have created a system that focuses on the wants, needs, desires, etc of your audience and show how your product provides relevant solutions will you be able to define a well-targeted core marketing message.
Without a defined CMM, your marketing efforts will vanish into thin air.
So to ensure your product launch is a success (or indeed to rise above the clutter of competition), you must take the time to understand your customers, identify what they feel about what you're selling, and build your core marketing message accordingly.
On a final note, test. Often. Refining your messaging platform can be the best and most inexpensive way to increase revenue.
Copyright, T Dooley, www.mediaminister.co.uk
The Glad-Lock Zipper Freezer Bag seal (where the yellow and blue strip becomes green) eventually went on to become a major hit with consumers.
Good job the company didn't scrap the very part of the bag that has almost become a household 'must-have' - re-sealable storage bags. Instead, they re-crafted the core marketing message (CMM) based on the potential buyers' perceptions, and launched a winner.
This illustrates a crucial area that most entrepreneurs and small businesses tend to overlook: You need to tap into the emotional mindset of your target market in order to craft a laser-sharp CMM. This means not second-guessing or assuming how your consumers will perceive your new product or service, but instead actively carrying out market research - both on your target audience and also how they perceive your product, preferably before it goes to market.
Think of your potential purchasers being inside the bulls-eye on a darts board - the better you know where and how to aim, the more likely you are to hit them (hypothetically speaking!), and in turn the more sales you can anticipate.
Only when you have created a system that focuses on the wants, needs, desires, etc of your audience and show how your product provides relevant solutions will you be able to define a well-targeted core marketing message.
Without a defined CMM, your marketing efforts will vanish into thin air.
So to ensure your product launch is a success (or indeed to rise above the clutter of competition), you must take the time to understand your customers, identify what they feel about what you're selling, and build your core marketing message accordingly.
On a final note, test. Often. Refining your messaging platform can be the best and most inexpensive way to increase revenue.
Copyright, T Dooley, www.mediaminister.co.uk
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