The 7 Minute Mentor

524 - How to Develop Your First Marketing Strategy

October 26, 2018

Hey, what's up, welcome to episode 524 of The 7 Minute Mentor with me Mark Asquith. Today I'm going to talk about how to develop your first marketing strategy. Now, it's an interesting one this and you'll see why in a second because it's not quite as clear cut as it looks. But we are going to talk about that in just one moment. Then moving into Monday, we're going to talk about choosing campaign channels, your marketing campaign channels. Then we're going to wrap up on the 30th with marketing campaign messaging and creative design before we wrap up the month with the usual recap of what we've talked about. It's amazing how quickly this month has gone. So, I hope you found it useful. It's been a really strong month of content, I feel, with the 7 Minute Mentor. If you want anything, if you want me to cover anything, email me, mark@excellence-expected.com and you know I'm going to pick it up with you. I'll cover anything you want me to. So, hit me up.

Now, before I dig into today's content, it is a normal reminder that I will be live today, 4:00 PM UK, 11:00 AM Eastern, 8:00 AM Pacific with my free coaching session which is always on Facebook Live. We have a really good session. Last week was a really good session. I was full of witty banter last week, and we really crush some deep problems for people and I want you to just come along and join in. Not only on the phone but on some of the game changing moves that we make for people. Because you're taking advantage of my entire business knowledge and you're getting me unadulterated for 30 minutes every single week. So, come along and join the session. There's really no reason not to be, we've a slew of new people recently, and I really appreciate it. So, please come along. Check all the details out to excellence-expected.com/free coaching.

Also, AWeber, 90 days free trial on their email marketing platform. Now, look, January is coming up and how many times have you missed your goals with your business that you've set out in January. You come back from the Christmas break all fired up, but actually you don't really do too much with it. It's because people don't know how to close, people don't know how to finish. People don't know how to make that sale and email marketing is one of the biggest tools in your arsenal when it comes to closing that deal. It gets me so much business. I want you to get started doing it. I want you to get started doing real proper email marketing. Not just setting it up and building a list. I'm talking about email marketing. Making some money from email. AWeber are going to help you do that at excellence-expected.com/aweber.

How to develop your first marketing strategy. Well, here's a little bit of bad news. There is no hard and fast rule to creating a marketing strategy. Honestly. But there are a few places that you can focus to make the very best of your first strategic plan. Now, the reason I'm telling you that is that, I'm one of those people, my brain works in quite a logical manner. I'm really weird. I can be really creative sometimes, but most the time I'm quite logical. My brain sees things in a systematic view. When I started working on marketing strategies and strategic marketing plans, I was struggling. I was really, really struggling because it was weird. I was wanting one formula for everything.

Now, you can follow a set format for your marketing strategy, but ultimately it's so dependent on your business and on your market, and on your industry and on your past and on your SWOT. That actually there's no hard and fast rule for doing this. So, you beautifully, you can't get it wrong. You can't get it wrong, but there are some things that you need to include.

Number one, I'm going to tell you, you need a PEST and a SWOT in their, political, economical or social and technological analysis of the world around you in your industry. You need strengths, weaknesses, opportunities and threats, analysis of your internal business in there. You need to summarize where you are now in the market, in the business, what you're selling, what you want to sell, and strategically, you need to tell a story of how you're going to get there. Now, at this point in your strategy, you are not choosing marketing channels. You're not saying we're going to do this via Facebook, what you're saying is that we have, for example, a perception challenge. People don't believe that we do what we do, so we need to educate them. Then you need to break down your audience personas.

Now, if you've seen anything about avatars before, if you go to excellence-expected.com/avatar, I want to slightly break the mold here and say that many people don't just have one avatar, they have several personas within their business. They don't just have one person who they're dealing with, they have several types of people and you can work on different personas. Go and check that out excellence-expected.com/avatar where it talks about multiple client personas. So, you need that in there.

What you also need is what is your budget for this strategy? How long will this strategy take to implement? What are we going to measure? What are my key performance indicators? All these things that I've talked to you about now for months start to come together. What is the one metric that we will measure them? What are the feeder matrix, the secondary metrics that will feed that. Now, there's a lot to do here. It's not a small job.

I've got a couple of these that I did years ago for assignments when I started and there'll be a little bit out today, there'll be a little bit old school. They certainly won't have any of the channels in there we're probably used to right now, but if you want me to send you them, I've probably still got them somewhere, so you can go and check them out. They are just completely fictional, but I did them for a couple of assignments when I was doing some deep marketing qualifications years ago, and you can use them. I'll give you them. You're very welcome to have them. You can just get them by emailing me at mark@excellence-expected.com, let me know and I'll send you them.

When it comes to a strategy, all you need to do is start like this. You tell the story of where your business is now. You tell the story of the problems that you have, your PEST and your SWOT. You tell the story of what you sell and what you want to sell and you tell the story of where you want to be. Then you break down your personas. Who are my client personas? Remember, go and check that avatar tutorial out. Excellence-expected.com/avatar. You then, you break out, where do these people hang out? What are their behaviors? What are their habits? How can we reach them? Broadly speaking, what is a rough marketing mix that we will use and what is the budget for this entire strategy? Then you finalize with, when will this strategy be achieved? We have X amount of time to shift the perception of our business in the marketplace from this to this. From this to this.

It's not easy. I could talk about this for months and weeks. I'm probably going to do more content on this, but let me know if you want those samples, mark@excellence-expected.com. If you've got any questions let me know because we can go into some depth on this on the free coaching. So, try and get started, let me know what can I do and please never forget them all. The more you expect from yourself the more you will excel.