exactly what business you are
in may be the single most important
factor in jump starting your
marketing efforts. So often,
companies see themselves as
selling specific products or
providing specific services.
These specificities, in effect,
become blinders on their vision
and greatly limit the potential
growth of their businesses.
Smarketing is all about creative
marketing and leveraging organizational
resources. In order to maximize
every marketing dollar you invest,
it is critical to fully understand
what you do and for whom you
do it. Marketing then becomes
the process of transferring
that knowledge to the market
place and converting this knowledge,
along with customers needs,
into profitable business.
The knowledge of your core business
activity can best be summarized
in a market perspective statement.
This statement is comprised
of two pieces of information:
do you do.
For whom do you do it.
market perspective statement
does not deal with how. The
how can change over time as
new opportunities present themselves.
You don't sell cosmetics. You
help people enhance their appearance.
You don't sell software. You
work with companies that want
to increase operating efficiencies.
You don't book speakers. You
work with organizations that
want greater education opportunities
for their employees and with
companies that need assistance
creating the best convention
Most companies get trapped into
the mistake of only dealing
with the how. In analyzing your
business, you should determine
where your potential customer's
greatest pain is and then determine
what you do to deal with or
ease that pain. Removal of that
pain, filling a need, is what
people and companies invest
There are three critical reasons
for developing your own market
1. A market perspective statement
enables you to maximize your
marketing dollars. -- By thoroughly
understanding what you do and
for whom you do it, you are
best able to get maximum impact
for every dollar invested in
marketing. Knowing your specific
target enables you to advertise
directly to people and organizations
that can buy! Your direct mail
pieces, TV ads, newspaper ads
and other advertising vehicles
are all focused on your specific
what and who. This marketing
focus or power will greatly
enhance your bottom line results.
2. A market perspective statement
enables you to maximize networking
opportunities. -- Most people
want help eliminating their
pain and will be interested
in hearing how you go about
doing that. Let's examine the
printing industry. What would
be your response when someone
asks you, "What do you
do?" Do you say, "I
am a printer" or "I
work with business people looking
to increase their marketing
exposure and earn more dollars
from their marketing investment?"
Which phrase is more limiting?
Stay away from limits. All business
people want greater market exposure
and increased profits. Now you
can tell this prospect the how.
Your printing services enable
you to deliver on this promise.
3. A market perspective statement
enables you to maximize possible
revenue opportunities. -- Take,
for example, the railroad industry
earlier this century. What business
were they in? If you asked them,
they would tell you that they
were in the railroad business.
They should have said the transportation
business. Because railroad business
was their mind set, when airplanes
came along, the railroad companies
ignored an opportunity. Airplanes
have become the market dominate
force in transporting people
and are also incremental in
mail and express delivery.
I would say that the railroads
worked with businesses that
needed to transport products
to and from the market place
and they worked with people
who needed to travel. With this
market perspective, the what
they did would drive their marketing
and planning instead of the
how they did it. The railroad
companies are still a factor
in today's transportation business,
but not to the extent they used
to be or could be.
In our printing business example
earlier, you can see that by
not being tied into a specific
how, you would recognize that
printing is not all that you
can do to increase your clients'
exposure. Maybe you sell web
sites, either produced through
your company or through a joint
venture. The internet can increase
market exposure and boost the
bottom line. You see, now your
creativity is freed to develop
many hows to take to market.
By understanding what you do
and for whom you do it, you
create a powerful base on which
to build your entire marketing
program. Smarketing necessitates
efficiency. Your market perspective
statement will help you create
an efficient, yet powerful marketing
attack as you begin to implement
other Smarketing techniques.
I am Sam Silverstein. I work
with business people who want
to grow their business and individuals
who are looking to accomplish
more in their lives.
© Sam Silverstein Enterprises,
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