• Five P's of Marketing

  • Jun 6 2022
  • Length: 24 mins
  • Podcast

Five P's of Marketing

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  • Summary

  • If you're like many business owners your focus is "the media" without having a plan. The question I hear from these business owners is "what is the best digital marketing platform (Facebook, Instagram, my own website, or ?) to market my business?"   Ideally, business owners should focus on creating a system for attracting customers in an organized, cost efficient way. You can have an expectation of predictable results. When you invest _____ you should be attracting _______-# of prospects, ___________ # of appointments & _____________ # of sales opportunities & _________# of new clients.   A system that helps you to TARGET the most appropriate & valuable prospects for your business. This should be a system that YOU control.   Even if you're outsourcing your marketing  - learn all you can about marketing. Your responsibility is much more than the "technician" of your business - that is "the doing" of the service or product that you hope to deliver in your business.   If you're like most business owners you're making decisions about what media (social media, website, Facebook or Google Ads) that they can afford with time or money before they spend any time at all understanding the 5-P of marketing as it relates to their target audience.   For marketing you need to understand what needs to be done, why and in what way so that you can properly manage the outside providers. Your focus should be RESULTS - with no partiality to any of the marketing tools, strategy or tactics - unless RESULTS are achieved for your business.   The focus of what you, as a small business owner, need to understand about marketing is "Direct Response Marketing" which focuses on the 5 P's of Marketing. For ever dollar spent there is a direct, typically fast, and always measurable return.     Marketing system - reliable, predictable & consistent   Traditional marketing - Pest Direct response Marketing = "Most Welcomed Guest" with just the right message at just the right time.       SEO / Lead Generation - Showing up in just the right place at exactly the right time for people who are looking for exactly what you offer. These people are already interested and already pre-qualified. Just like a personals ad - who you want to respond & who you don't want to respond.   When you understand Direct Response Marketing and employ the 5-P's, your marketing message becomes a "lead generation magnet" for those who are already looking for a solution for a problem that you solve.   People - Whose problem are you solving? Your Marketing system should have only one focus - The customer (or prospects = clones of the ideal customer) is the focus. What is the problem, what do they care about, that they are seeking answers for?     Product - This is the solution to the problem
    • convenience
    • solves a problem/relieves pain
    • saves money
    • extremely unique
    • improves lifestyle
    • high perceived value
      Price - What is your person willing to pay to solve their problem?
    • What will your person pay
      • to avoid an outcome?
      • increase or improve end result?
      • save or prevent loss?
    • Is your solution one of a kind or common?
      Place - Where can your person be found experiencing the problem - the need for your solution Where is your person looking for a solution? Where is your person entertaining & engaging in conversation about problem/solution?   Promotion - What is your compelling offer? Does your offer inspire desire and motivate action by your person to buy your product or hire your service? What about a payment plan/financing?   Let me invite you to be more than the technician for your business. 
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