A marketing strategy is a series of actions intended to
accomplish a specific sales goal. For example, an
advertising strategy for a new product or service. The
words marketing campaign is commonly substituted in order to
catch readers attention. Normally, left-brain dominants
(logical) prefer the word campaign and right-brainers
(creative) prefer strategy.
Before we address the nine basic steps in testing a product
or service, let’s briefly discuss the common faux pas
generally made that keeps the process from succeeding. For
marketing beginners, there are two typical mistakes. The
biggest is trying to take on too many strategies at once.
The other mistake is creating a strategy that is either too
big and can't be measured or too small and can't deliver
enough results. Both are frustrating.
Other bloopers include impatience, boredom, obscure
measurements or limited focus, or any combination thereof.
Another blooper, if you are a solopreneur, is trying to
juggle more than one strategy at a time. When the results
don't equal our expectations, mind or on paper, it is easy
to say this doesn't work and want to jump to another
strategy.
First Stage: Choice. This is the time to plan and prepare.
It contains three vital steps.
Step 1: Brainstorm Strategies. It is important to create a
list of as many possible strategies known by you or your
team at this time. don't scrutinize, just list. For the
perfectionists, please know that there are hundreds of
strategies for any one scenario and a complete list is
nearly impossible. If you don't know of any possible
strategies, do some research, and stop at three. Three that
feels comfortable and achievable for you.
Once the list is done, stop looking for or learning any new
material that doesn't fit. Set those aside for now,
temporarily. The time spent chasing more possibilities will
water down the success of the current strategy. You never
want to chase the next best thing when you still haven't
worked what you already have going.
Step 2: Choose and Prioritize. Measure the top five
strategies according to needed resources and the learning
curve. Choose the one that requires the least resources and
run with that one. It may or may not be your first
preference.
Step 3: Measurement. This tells you whether the strategy
is working. You can do this by measuring the number of
responses or the type of responses you receive. The
measurement can include a set percentage of the gross
revenue expectations. Time is also a measurement. Or, the
measurement can be any combination thereof. For example, if
you wish to get 5,000 responses a month when you get to the
maintenance period, the first measurement may be 10%, or 500
responses with 50 paid orders.
Second Stage: The Loop is a process that continues until
you reach the measurement.
Step 4: It’s Time to Try It. Run the test. If you are a
speaker, deliver the presentation once to a small group.
For an Internet sales letter, post it, and measure the
results in 8, 16, and 24 hours after first notification. If
it’s a widget, stand on a busy corner, hand them out, and
talk to people about their reaction. If it’s a children’s
book, complete one or two story times at the local
libraries.
Step 5: Review Time. It’s time to evaluate. Is it working?
How does it compare to the measurement? It’s time to gather
all the yellow sticky notes and other comments received
earlier and evaluate each one for its merits and
possibilities. Which ones do you want to incorporate into
the next test?
Step 6: Tweak, Pinch, Pluck and Twist. It’s time to
tighten and sparkle. If speaking, rewrite. If a sales
letter, add, delete, or expand the content. If a widget,
redesign or edit the sales copy.
Step 7: Put It Out There Again. Time to test it again with
the changes. Before sending it out there double check to
see if the measurements still fit or need adjusting. When
you hit the measurement, the loop stage is complete. If
not, return to Step 4 and loop again. Continue until it
meets or exceeds the measurement.
Stage Three: Working the Strategy. Now it’s time for
consistency.
Step 8: Work the Process. This is the maintenance period.
don't drop the ball here -- consistency and pattern are the
keys along with sporadic measurements. Watch the
marketplace for changes that could affect your results.
Know the marketing history of similar products. Available
resources should begin to open.
Step 9: Next! If the current strategy has opened
resources, it is time to choose the next strategy. If not,
keep working this strategy and allow the other strategies to
wait until the resources become free. don't fall into the
trap of tweaking it just because you get bored with the
process.
(c) Copyright 2005, Catherine Franz. All rights reserved.
About The Author:
Catherine Franz, CEO of Eagle Communications, is a
syndicated marketing columnist,
radio host, International speaker, and master life and
business coach. http://www.abundancecenter.com
