The Marketing Formula
Applying the Marketing FormulaStop Guessing. Start Surveying!
How do you know for sure you are using the right emotional hot buttons in your headline? You uncover the most effective words, called the hot button hierarchy, through surveys. By wording survey questions with emotional terms, such as enjoy, frustrate, believe, consider, feel or think, you will uncover the emotional hot buttons that will grab your target market's attention.
Through surveys, you can determine exactly what potential buyers believe would make what you provide clearly superior to what your competitors’ offer. If you conduct your surveys properly, your analysis will unveil a treasure. We call this your marketing superiority opportunity (MSO). For example, let's say you offer the fastest service and the longest warranty in your industry. If your surveys reveal that prospective buyers don't care much about your speed but desire a long warranty, shouldn't you focus on boasting about your guarantee, how you back it and why you are able to offer it when your competitors cannot? A garage door service did just this. They offered a five year warranty while others refused to offer more than two. The company's ads explained that faulty installations and cheap parts usually last about two to three years before they break. Next, they revealed why numerous competitors use inferior parts. Their ads described why they always use the highest quality components and detailed the steps they perform to ensure a perfect installation. Also, they instructed people how to inspect parts prior to installation to ensure they are the correct ones. The result? Their sales skyrocketed. Refrain from conducting your surveys by mail. The response rate will be too low and you won't know why some people respond and others do not. You can survey at shopping centers through a marketing research firm, or at conferences, trade shows, community gatherings or by phone. If you survey consumers via telephone, you can receive an exempt status online from the Do Not Call Registry, as long as you make no attempt to sell (https://www.donotcall.gov/faq/faqbusiness.aspx). The Master Letter Your master letter is a summary of your marketing strategy. It includes all of the components of an ad per the marketing formula. It is as long as it needs to be; usually one to four pages. It does not go into the detail of a full report. Once completed, however, it serves as the source you use to draw from to create all of your promotion, including print ads, radio and television commercials, direct mail, reports, CDs, DVDs, websites, etc. Here is a sample you may download. Follow Up How you follow up with prospective clients is vital to your success because chances are most of your prospects are not yet ready to buy. You must nurture them with e-mails, direct mail, CDs, DVDs and/or faxes that continue to educate them concerning your type of product or service and why yours is the logical choice. Contacts should be frequent, at least twice a month. We recommend once a week in many cases. If your follow-up remains educational in nature and is articulated well, your information will be well received. Copyright © 2009, Business Builders. All rights reserved. None of this material may be copied or reproduced without expressed written permission from Business Builders. |
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The Marketing Formula
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