You want to get rich? Great. What’s your marketing plan?

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Wealth

Big dreams…

They’re why you started your business. Dreams of independence. Of setting your own schedule and determining your own worth. Of giving your family a better life and of sharing your passion with the world.

Your plan is to succeed.

So why does it feel like you’re running on a treadmill? Working hard, but going nowhere.

I’ll give you a hint: it’s not because you aren’t dreaming big enough.

You can’t grow a business on faith alone

Your positive action combined with positive thinking results in success

If you read business advice in 120 280-character bursts, you begin to think entrepreneurship is like a field of dreams: Build it, believe in yourself, and success will come.

Think big and don't listen to people who tell you it can't be done. Life's too short to think small.

Hogwash!

Tenacity, hard work, and a positive attitude are all part of the entrepreneurial equation, but none of it pays the bills when you don’t know how to get customers in the door!

What’s your marketing plan?

What are you promoting? Who are your customers? What sets your product or service apart?

These are basic marketing questions that you must know the answers to in order to succeed. I pose variations of these questions to every customer I do copywriting for… and too many can’t answer them. These are the basics of marketing and branding—the very foundations of business success.

That’s why I added marketing and business consulting to my list of services. Because these are things you must to know if you want to market (and thereby grow) your business!

Before you spend money on advertising

One of the worst things I see small business owners do is throw good money after bad advertising.

Watching ads on TV, you might think advertising is easy: put your product or service out there and people show up to buy it, right? What you don’t see the extensive research, planning, and strategy that went into creating that ad. . . or that it’s just one piece of a much larger marketing campaign.

Here are just some of the things a marketer will consider when promoting your business:

  • What is your position in the marketplace? Is your brand known?
  • How do you stack up against the competition? Do you have a competitive edge to exploit?
  • What objections might the customer have to making this purchase?

Most importantly, marketers study the consumer:

  • Who’s interested in buying this product/service?
  • What do they value?
  • Where do they go for information about the industry?
  • What media do they consume?

And this is where you must start when building your own marketing strategy.

Download your free customer profile worksheet

Don’t be fooled, marketing is hard

It takes strategy, planning, execution, and measuring of results to build a successful marketing campaign. And a successful marketing is a key component to running a successful business. If anyone tries to tell you that “Internet marketing” is easy–don’t listen to anything else they have to say.

Even well-planned marketing strategies can fail miserably. But even a failed marketing campaign is a chance to learn about your market and get it right in the future.

If you want an advisor who will walk you step-by-step through developing your own marketing strategy and teach you the varied aspects of Internet marketing, check out my marketing consulting services dubbed Marketing Therapy. Also, if you haven’t already, sign up for my free newsletter all about marketing.

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3 Responses to “You want to get rich? Great. What’s your marketing plan?

  • Great article Alexa.

  • Hi, Alexa,

    Excellent post.

    The fact is, most entrepreneurs don’t know how to create a business plan or even what a revenue stream is. So, how many times have you been asked to write a biz model? In fact, you’re creating the actual business – a fuzzy idea in the minds of start-ups to which you give form.

    I get it a lot – or used to. I stopped accepting business plans as work because too many prospects were clueless and I didn’t want them to waste their money given that 94% of all W3 businesses fail within 12 months, primarily due to under-capitalization and a lack of a business model.

    Your piece lays out a simple effective, structure. Thanks.

    Best,
    Paul

    • AlexaSteele
      7 years ago

      Thanks, Paul.

      I don’t write business plans, but I do consult with startups. In fact, I started the consulting side of my business after realizing the same thing you did, that many entrepreneurs have a grand idea, but no clue how to effectively bring it to life. Heck, when I started I didn’t have a clue either, there’s a whole lot more to this being self employed thing than I ever thought!

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