The 7-Step Market Magnet System Making Marketing Understandable Practical and Effective
Strategy Before Tactics
Step 1 is made up of 4 parts:
- Take stock and get clear on the vision for the future of the business.
It is vital that any strategy development serves the ultimate purpose and vision of the business.
- Define with absolute clarity and certainty your ideal customer/s.
Knowing who you are talking to is of paramount importance. This clarity instructs the type of communication to be used, and the correct channel to convey your message. It provides laser like focus and with it efficiency for a great Return on Investment (ROI).
- Research and discover what your Ultimate Strategic Position is.
Find out what is unique about your business from a customer’s perspective. Differentiating yourself from the rest and then amplifying that difference gives your prospects a way to compare and evaluate you that goes beyond just the price tag.
- Join the dots.
Connect points 1, 2 and 3 to demonstrate to your perfect prospects how your unique difference allows you to provide a service to them that is the obvious choice for them no matter the price.
Every one of us go through a very similar set of systematic steps when we are considering purchasing a product or service.
Being able to identify at what point a prospect is in this process allows us to tailor our marketing or sales message perfectly to suit the prospects needs.
Systematically moving a prospect through these steps at a pace set by the prospect radically improves a sales team success in creating happy customers.
Leverage the power of the sales psyche by knowing where in the
know, like, trust, try, buy, repeat, refer continuum your prospect or customer is.
Set the markers for each stage and train your team to recognise these markers and respond accordingly.
Content Dominates Marketing
In this modern era of internet and instant access to information on almost any topic, content is the determining factor in a sales decision.
Content has 2 roles:
- Build trust – this ties back to step 2 where we need to allow prospects to move through their sales process at their own pace building trust and familiarity as they go.
- Educate – Prospects are more informed than ever before. They are hungry for knowledge and we must use this to our advantage. We need to allow them to become an expert on what they are deciding to purchase while providing reasons why we are the best provider of the solution they seek.
Producing regular and appropriate content is a massive challenge. Having a strategy that dictates what content will be most effective drastically reduces the work load and increases effectiveness.
Total Web Presence
The online world is changing rapidly. It used to be enough to have a search engine optimised website. Today you need to have a presence everywhere online where your ideal client might be.
At each touch point your objective is to be driving that person to your website which is optimised to convert visitors into subscribers.
This allows us to market to them on and offline and in accordance with the purchasing decision process.
Key to this success is the following:
- Know that your prospects will research you and turn that to your advantage
- Be findable and searchable with traditional and non-traditional Search Engine Optimization
- Ensure the correct social media platforms are selected and optimised
- Take advantage of online listing and portals
- Create and participate in online communities
Build a Lead Generation Machine
Traditional lead generating methods can be expensive and are becoming less effective. While they still have a significant role to play, you must think more in terms of being found and less in terms of finding.
The preceding 4 steps in the Market Magnet system are about optimising being found. Prospects are jaded, and pre-programmed to reject traditional selling and closing techniques. Rather, we must allow them to set the pace, the terms of engagement and our role is to provide the information they need to make a buying decision in our favour. We need to place our selves in the path of prospect.
We use a 3 pronged approach to generating leads or focusing on the “know” stage of the purchasing decision process:
- Advertising – “ideal customer profile advertising” that is guided by strategy, highly targeted and refined by testing is extremely effective at reaching new prospects.
- PR – having a game plan to get media exposure provides instant credibility (“trust”) while providing a means to reach new prospects. PR also covers the example of press releases within print media or to a selected suspects list.
- Referral – Having a referral machine is a key part of our system, on which we focus a lot of effort.
Imagine the power of a prospect seeing your advert that seemed designed just for him or her, then they open an industry publication to see an article on how effective your service is. Followed by a meeting with a colleague who is singing your praises. The deal is done before you can knock on the door to introduce your self.
Lead Conversion Strategy
It is all well and good having a steady stream of leads, but it probably more important that you have sales collateral and set marketing procedures for every stage of the purchasing decision process.
One must adopt the strategic approach of having the goal to move a prospect 1 step further along the decision making process. Focusing on a sale before the prospect is ready can delay or lose a potential deal.
The goal here is to be able to identify which stage the prospect is at, have ready what is needed to convert that client to the next stage, and have a marker that tells you when they have moved to the next stage so you can adapt accordingly.
Live by the Marketing Calendar
Having read through the stages presented so far it may feel overwhelming. We solve this by laying out a year-long marketing calendar that is then reversed engineered to provide tasks on what needs to be done each month, week and day.
This project plan approach ensures the job gets done with nothing being left out while avoiding a sense of overload.