Do you have Marketing Strategy? Or Just an Elevator Pitch?
If you're like most businesses running on implemented EOS®, you've already outlined your Marketing Strategy. You can confidently point to your:
Target Market or List of ideal customers
By the definitions you've been taught, your marketing strategy is completely rock-solid – it clearly defines who you want to work with, what differentiates you and how they can work with you. Unfortunately, it's not a marketing strategy.
What you've created is an elevator pitch. And a darn good one. It puts you further along than you've been before. It might give you a leg up on the competition.
But if you a hire a true marketing executive, the first thing they are going to do is kick those back to sales where they belong.
You have a marketing strategy problem. Marketing is pretty simple, it's competing for attention. And nothing in those 4 elements, fights for attention. Everything above is what to do when you have their attention.
A strategy is a plan. A plan makes it clear how you plan to get there. To properly create a Marketing Strategy, you need to answer the big question first. Want to develop true strategy you must read my book
What is the primary business challenge marketing needs to solve? One of the 4 below is your primary, and then some (not all) will form a mix that becomes the actual start of your Marketing Strategy.
1) Visibility: Are your customers problem aware? Do they know what they need? If so they are searching for your product/offering specifically. They are likely searching on Google.
Examples: Locksmith, Karate Schools, HVAC, Restaurants
2) Differentiation: Do you do something truly unique in your market? There's only 1 industry norm, and you are doing it differently? Do you have an offering that bends the rules? Are you the only one with a certain level of qualification in your area? You need to make that incredibly clear in your target market's eyes.
Examples: Recruiting firm that's Flat Fee, You're only certified provider for a material in the country, You've got the only patent for XYZ product
3) Awareness: You've solved a problem, that most people aren't aware they have. The true inventors and geniuses of our time create these products/solutions. They are not only novel, they've never been heard of. And you've got to show people so they can realize they need it.
Examples: Hug Sleep, Chia Pet, Shake Weight
4) Trust: You've got a product/offering that's high ticket and high impact. If you are deciding on a financial advisor to manage your millions, you are going to need a lot of trust before you hand over your money. It's the short list problem, you need to be key influencer's radar that when your target customer is shopping, they'll name your solution. Examples: Wealth advisors, business coaches, medical
I've seen too many businesses running on EOS® and other business operating systems struggle with following the rules and not knowing why their marketing stagnates. If you feel like your business is stuck, or you want to talk to a coach who's been through this and solved it. Please don't hesitate to reach out.