Fundamentals of a Successful Marketing Program

Submitted by DigitalMX Online on Thu, 05/16/2019 - 09:20
A successful marketing program follows the basics

Successful marketing programs result from following clearly defined steps, where one leads logically to the next and builds on what came before. For your marketing efforts to pay off with lots of quality leads that get converted to new customers who buy from you, resulting in increased sales and robust net profits, here are the steps to follow:

  • First – develop your Market Dominating Message (MDM)
  • Second – using MDM, develop your Market Dominating Position (MDP)
  • Third – combine MDM and MDP to develop your Core Marketing Strategy

None of these components can stand alone. Just as one thing is weak by itself, but finds its strength when combined with other like things, so it is with successful marketing programs.

Step One: Start with your Market Dominating Message (MDM)

Your Market Dominating Message forms the foundation for your business’s growth and ultimate success. It’s unique to your business because it states your business’s purpose: what you offer, how you are superior to your competition, and what prospects can expect when doing business with you. To achieve growth, you must be able to communicate your unique value to your prospective buyers.

Any business, including yours, has a story to tell, but it either doesn’t get told or only the part that doesn’t matter to your potential customers gets told, like how many years you’ve been in business or that you have “great customer service” or “great quality” products. Maybe you do, in fact, provide great customer service and your products are, in fact, great quality. If you can’t explain how great customer service and great quality products improve your prospects’ lives, you will not stand out in your market and you will get lumped in with everyone else.

Your Market Dominating Message must accomplish the following objectives:

1. Tell people what you sell

2. Clearly explain how you are superior to your competition, and

3. Describe what they can expect when doing business with you

If your Market Dominating Message isn’t clear and you fail to communicate to your ideal customers what differentiates your business from your competitors:

1. You will NOT capture your ideal customers’ attention

2. You WILL enter into competition with your lower quality competitors who are saying the same things you are

3. You WILL regularly compete on price, which means you can never charge a premium for your superior service

When we at DigitalMX work with you, together we will

  • Identify specific ways that what your business does, how you do it and what you offer are better than your competition
  • Using this information, we’ll develop your Market Dominating Message
  • We'll identify your ideal target audience and engage prospects by showing your superior value
  • We communicate your message to your prospects in a way they can relate to

A Market Dominating Message that doesn’t capture the interest of your ideal customers will leave it to chance that they will buy from you. They may even buy from the low-cost and low-service provider down the highway, because you didn’t effectively communicate your message.

Next Step: Use your MDM to create your Market Dominating Position

To create a Market Dominating Position for your unique business requires that you identify and understand the concerns of your target audience—what is important to them. Ask:

  • What problems are they facing that your business can solve?
  • What questions might they have regarding the products and services you offer?
  • What do they value?

Answer those questions and you can develop a powerful Market Dominating Position that states your Market Dominating Message in a persuasive way.

When you work with DigitalMX, we’ll conduct research to gain a thorough knowledge of your industry. We’ll dig deep to understand the true reality of the products and services you offer. What you do that’s good, what you do that’s not so good, and what we can do to “fine tune” and polish up your processes to make your business more attractive to your ideal customers. We will be asking you: 

  • What about your business is different and better than what your competition offers?
  • What about your business processes can we measure?
  • What about your business services can we prove?
  • What do you offer that we can’t necessarily measure or prove, but is still true?
  • How do you compare with other competing services?

With a clearly-defined Market Dominating Position, we'll identify and locate your audience and engage prospects by showing your outstanding value.

As a business owner, it you’re stuck with competing on price for every sale or even losing business in a highly competitive marketplace, then your Market Dominating Position is more critical than ever. You must identify ways you can innovate your offerings to achieve a superior position in the market.

Final Step: The Core Marketing Strategy

Your Core Marketing Strategy tells prospects you’re the best choice to buy from, and will accomplish five things: 

1. Capture the attention of your ideal customers

2. Inform them how to make the best possible buying decision by giving them the information they need and purchase from the best company possible, which is you

3. Reduce ideal customers’ purchasing anxiety as they near a decision

4. Generate a purchase

5. Instill loyalty for repeat buyers and referrals

Develop Core Marketing Strategy before any Marketing Tactics

When most people think about marketing, what they are really thinking about is marketing tactics: websites, tv, radio, email, digital ads, social media advertising, etc. But if you try to promote your business without a Core Marketing Strategy using only tactics, you end up spending more and are guaranteed to get only mediocre or even inferior results.

Once your Market Dominating Message and Market Dominating Position are defined and refined, they will form the basis for your Core Marketing Strategy and lay the foundation for all your future marketing materials, i.e., the tactics. It will shape how your website engages with prospects and will work to turn more prospects into customers and then turn more customers into repeat buyers and “referral-givers.”

There’s a six-step process to developing your Core Marketing Strategy:  

Step 1​. Identify Your Ideal Customers. Find out why your existing customers buy from you by asking them directly, reading customer reviews for your company and for your competitors, calling your past happy customers and determine what they liked about the experience of buying from you.

Use this information to target prospects based on what existing customers value.

We at DigitalMX have seen how the right core marketing strategy attracts ideal customers. We have also seen how the wrong strategic messaging can attract nightmare customers that drive business owners away from their own businesses.

Step 2. Narrow Your Focus. You might need to eliminate some inactive customers and begin to limit or eliminate the services or products your business offers that don’t generate the right type of customers​.

Step 3. Incorporate your Market Dominating Message into any and all available forms of communication, like your landing pages, your website, emails and letters. Your Market Dominating Message must convince​ prospects that your business is guided by integrity and the desire to give them the best solution or product possible, and that you are the best option for them.

Step 4: Create support materials based on your Market Dominating Message. With the Market Dominating Message incorporated into your business communications, any support materials you create will drive prospects to where your message can be shared and prospects get converted into customers.

Step 5. Create content based on your Market Dominating Message. Content forms the link between your Market Dominating Message and solving your prospects’ problems. As part of your alliance with DigitalMxOnline.com, we build out a complete content system for your business, which includes content for sales support materials, keyword research, editorial calendar and content delivery.

Step 6. Guide the Customer Journey. Your Core Marketing Strategy and Market Dominating Message needs to connect at all stages​ of the Buyer’s Journey, which is anything but linear.

The steps in your customers’ buyer’s journey can be described something like this:  

  • Awareness
  • Investigate
  • Understand
  • Pursue
  • Buy
  • Repeat
  • Review

By providing your prospective buyers with content based on your Market Dominating Message, it’s possible to reach them and influence their buying decision at every step of the journey.

The importance of developing a Core Marketing Strategy based on your combined Market Dominating Message and Market Dominating Position cannot be overstated.

Working together, the experts at DigitalMX will ensure your Market Dominating Message communicates clearly who you are, what you do, and what customers can expect when they do business with you.

We want to make sure your marketing is successful and works to engage prospective customers, generate qualified leads, turn website visitors into customers, and cultivate long-term relationships that will provide you with steady, profitable growth.

 

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