Marketing Principles

The following five marketing principles apply for every small business. Follow them, live by them, and you’ll do extremely well in your market.

Principle 1:
First and foremost, you are a marketer.

Because without customers or clients, you don’t have a business.

“There is only one valid definition of business purpose: to create a customer. The customer is the foundation of a business and keeps it in existence. “- Peter Drucker

Principle 2:
Every marketing strategy is designed to keep customers for life.

Instead of thinking in terms of getting a customer to make a sale, we think in terms of making a sale to get a customer.

Principle 3:
Marketing is everything and everything is marketing.

Everything you do, every day, all the time that influences a positive buying decision is Marketing.

“If the circus is coming to town and you paint a sign saying, ‘Circus is coming to Fairgrounds Sunday,’ that’s Advertising. If you put the sign on the back of an elephant and walk him through town, that’s a Promotion. If the elephant walks through the Mayor’s flower bed, that’s Publicity. If you can get the Mayor to laugh about it, that’s Public Relations. And, if you planned the whole thing, that’s Marketing!” - Author Unknown

To that description, I add that Marketing includes the complete Customer Experience. It’s how quickly you answer the phone, how knowledgeable your staff is, timely and correct deliveries, clean premises, and on and on….

Principle 4:
You need a marketing plan that guides you daily.

Your six step, “6-M Plan” goes like this:

  1. Market – define your target customers/clients – specifically.
  2. Mission – define your purpose (Why does your business exist?)
  3. Message – explain your Unique Selling Proposition (Your USP – Explain why your customers should choose you over all others. Describe your exceptional experience. Promote your brilliance with honest, persuasive words and crafted sentences)
  4. Money – determine your budget (How much will you invest to get your Message to your Market?)
  5. Media – select the media you’ll use to spread your message (Including digital media!)
  6. Measure – track your marketing closely – test it (What works? What doesn’t?)

“Marketing is getting the right message to right people via the right media and methods.” - Dan Kennedy

“There will always, one can assume, be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits her and sells itself. Ideally, marketing should result in a customer who is ready to buy.” - Peter Drucker

Principle 5:
You must test and measure everything you do, and evaluate results.

Not only do you measure the Return on your Investment (ROI) for each marketing activity, you track and plan based on the Lifetime Value of every customer/client. Test, test, test.