All this talk about working on improving our businesses marketing more effectively and building more valuable, long lasting relationships is nice but it’s all TALK! And like my grandfather used to say, “talk is cheap.”
Anybody can read books, listen to CDs, take classes to gain knowledge. However, true improvement only occurs when we take action. It is admittedly difficult to adapt business improvement strategies to our industries and personal circumstances. How can we “implement” the strategies which seem to make “so much sense” when we hear, learn and read about them yet seem so foreign when we attempt to put them into practice?
By developing an implementation plan or “plan of action.”
Our action plan must include various elements that we have talked about in these weekly business updates. I recommend creating a one page summary outlining the following components in preparation for developing the action plan:
1. Your competitive positioning in the market. — This outlines how your competition is perceived in the marketplace. See our article on the competitive landscape profile:http://www.sbanetwork.org/articles/articles_view.asp?id=164
2. Recognize the “thought trends.” – Examine the products and services that you are deciding to market and the thought trends of that customers who demand them. It is critical that you fully understand the trends in customer thinking. Check out our article on “thought trends”:http://www.sbanetwork.org/articles/articles_view.asp?id=144
3. The profile of your target audience. – Most entrepreneurs go after the big target. They try to get the biggest piece of the pie. I say go after the smallest possible market that you can find. Far better for you to be a big fish in a small pond rather than a little minnow in a great big sea. See our article on target marketing: http://www.sbanetwork.org/articles/articles_view.asp?id=190
4. Your exclusive marketing position. – Everyone is talking about having a unique solution and differentiation. This is not enough today. We must not be satisfied with having a unique solution we in fact must find a way to be the ONLY solution. Read about the “exclusive marketing position” in this article: http://www.sbanetwork.org/articles/articles_view.asp?id=109
5. Your branding statement. – How can people recognize you in crowd? Today EVERY industry and product or service category is inundated with copycat solution providers. The client has over-choice, in the extreme. How will people consistently recognize who you are? See our article on branding: http://www.sbanetwork.org/articles/articles_view.asp?id=25
6. Your informational marketing strategy. – Today it is not enough to persuade people; we must educate, influence and inspire them. How does your action plan accomplish this? Check out this article: http://www.sbanetwork.org/articles/articles_view.asp?id=175
Please feel free to give me some feedback and let me know what you’d like to us discuss in these update by visiting our survey. It will only take you 2 minutes to compete and when you do I’ll share with you my audio presentation on “Why Most Marketing Fails.”