I recently had a financial planner client confess to me that there are a good number of his peers who are probably only mediocre as advisors (he used much harsher language!) but great at marketing.
So, therefore, their business was booming. Far more in fact than those who were objectively great financial planners but who lagged when it came to telling the world about it.
It got me to thinking – how do we even define marketing? What are the individual necessary elements, and how do they interact?
So, after nearly 30 years in the marketing business in some capacity, I decided to create my own formula for marketing success that’s not just a theoretical definition, but specific and actionable to the point that it will dictate your whole marketing strategy.
The Marketing Formula:
Yeah, it’s that easy.
I was going to go through some ultra-complex algorithm that ended up looking like Charlie Day in It’s Always Sunny in Philadelphia, but I barely made it past algebra in school, so you get ABCs and 123s!
Now, let me break down what those elements are:
A Getting in front of the most people possible.
(Is your marketing and messages reaching 10 people, 100 people, or 10,000 people?)
B Within your specific target audience.
(People who are qualified and need what you are offering, and even geographic location.)
C With the highest level of trust and credibility.
(Will your messages be warmly received? That depends on if you were referred to them by a current client. Or, maybe they heard you speak at a presentation in a position of authority?)
1 Delivering the most positive messages.
(I would stress this is positive both in terms of quality and frequency.)
2 That convey the highest proposed value to the client.
(Are you demonstrating that you have the solution to their problems or can help them get to where they want to go?)
3 While asking for their business or the consumer to act in some way (CTA).
(And then, asking for repeat business and referrals!)
As you can see, these are all equally important – and interrelated to create true synergy.
So, make sure all of these elements are well-examined and emboldened, like a chain without a weak link.
Just follow this formula and it will help guide your entire marketing strategy, allowing your business to reach, engage, and obtain new clients at epic proportions!
7th Wave Media