M.U.D. Marketing
| Category: Marketing | Date: 2003-09-19 |
M.U.D. Marketing disguises itself as a "fast" "easy" way to find people who want to buy your product. It is one of the most used marketing strategies, especially among "newbie" business owners. Product in this article refers also to service.
It is true that selling is a numbers game. Thus the theory behind this marketing strategy -- If you throw enough "mud" on the wall, eventually something will stick and you'll make money.
Every time I hear this advice being given, I just want to go over and ...let's keep this non-violent. Hey! it's a tough enough world out there...especially when you're in business for yourself. Wouldn't you rather have someone tell you how to make the numbers working for you instead of against you?
M.U.D. marketing make you "look" busy but not productive. You produce very little results for your time, effort and money.
Think about it. You have a pile of mud right next to you. Let's make it a big pile. You grab a handful and start throwing it at the wall.
Somewhere on that wall is a target you're suppose to hit if you want profits to start rolling in. The problem is you don't know where the target is located. You keep flinging mud hoping you'll hit it.
Eventually you run out of mud, only hitting your target a few times and now you have a sore arm.
M.U.D. stands for Market UnDetermined or Marketing UnDefined.
Either one spells disaster for your business.
What if you took the time to find the target on that wall? Your results would be much different wouldn't they?
You can aim your marketing message to hit your potential clients. Taking the time to research your market before you start will save you time and money in the long run. You also would discover if the market would "pay" for your product. It would be nice to know that bit of information before you get started.
How do you determine your target market?
First, what problem is your product/service solving and how would this make a difference in your clients life or business. In other words, what is the benefit.
Next who has this problem?
What does that client look like? Male or Female or Both Stay at home mom or power executives. Are they baby boomers or students? Where do they hang out? What hobbies do they enjoy doing? etc.
Make a list of every potential market group that has the problem you can help solve. Create a thumbnail of each adding detailed points each market group. An example of one of our target groups:
The Overworked Small Net or Home Based Business Owner
--Running their business by themselves
--25-55 years old
--work long hours just to keep up with the bills
--too many unfinished projects
--feel overwhelmed and stress out
--business has taken over their lives
--want to enjoy life and relax again
--want to work less hours without losing income
--want to spend more time with their family and friends
--want more freeing up hours per day
--want to be in control again
The more points you add... the more you can understand your group. You have a better idea of how to reach your them and what benefits to stress to each group.
M.U.D. marketing has you knocking your brains out trying to sell to 100,000 people with the potential of only 10 buying. Is it any wonder you feel frustrated with your efforts.
Aim for a smaller "targeted" market of 1000 interested potential buyers who want what you have to offer. Lets say 10 become clients. That is the same figure as above but you achieve it with less effort. Actually since this is a targeted group, your closing rate will probably be higher.
Decide which marketing techniques to use after you determine your market groups.
Taking the time to research and identify your target market may seem like it's going to take longer before you see results. In reality, it speeds up the process of achieving your goal...profitable business with less effort.
If your business feels like it is stuck in "mud"....quit wasting your most valuable asset... "time"... on M.U.D. marketing.
Remember...if you try to sell to everyone, you end up selling to no one.
About the Author
Ann Rusnak is the 15 Minute Time Coach who helps entrepreneurs use The "15 Minute a Day" Technique that puts them in control of their time to grow their business faster and more profitable in less time with less stress! Subscribe to "Just 15 Minutes" and receive time saving information to grow YOUR business in less time. Send blank email to ebiz@just15minutes.com
support@just15minutes.com
http://www.just15minutes.com
It is true that selling is a numbers game. Thus the theory behind this marketing strategy -- If you throw enough "mud" on the wall, eventually something will stick and you'll make money.
Every time I hear this advice being given, I just want to go over and ...let's keep this non-violent. Hey! it's a tough enough world out there...especially when you're in business for yourself. Wouldn't you rather have someone tell you how to make the numbers working for you instead of against you?
M.U.D. marketing make you "look" busy but not productive. You produce very little results for your time, effort and money.
Think about it. You have a pile of mud right next to you. Let's make it a big pile. You grab a handful and start throwing it at the wall.
Somewhere on that wall is a target you're suppose to hit if you want profits to start rolling in. The problem is you don't know where the target is located. You keep flinging mud hoping you'll hit it.
Eventually you run out of mud, only hitting your target a few times and now you have a sore arm.
M.U.D. stands for Market UnDetermined or Marketing UnDefined.
Either one spells disaster for your business.
What if you took the time to find the target on that wall? Your results would be much different wouldn't they?
You can aim your marketing message to hit your potential clients. Taking the time to research your market before you start will save you time and money in the long run. You also would discover if the market would "pay" for your product. It would be nice to know that bit of information before you get started.
How do you determine your target market?
First, what problem is your product/service solving and how would this make a difference in your clients life or business. In other words, what is the benefit.
Next who has this problem?
What does that client look like? Male or Female or Both Stay at home mom or power executives. Are they baby boomers or students? Where do they hang out? What hobbies do they enjoy doing? etc.
Make a list of every potential market group that has the problem you can help solve. Create a thumbnail of each adding detailed points each market group. An example of one of our target groups:
The Overworked Small Net or Home Based Business Owner
--Running their business by themselves
--25-55 years old
--work long hours just to keep up with the bills
--too many unfinished projects
--feel overwhelmed and stress out
--business has taken over their lives
--want to enjoy life and relax again
--want to work less hours without losing income
--want to spend more time with their family and friends
--want more freeing up hours per day
--want to be in control again
The more points you add... the more you can understand your group. You have a better idea of how to reach your them and what benefits to stress to each group.
M.U.D. marketing has you knocking your brains out trying to sell to 100,000 people with the potential of only 10 buying. Is it any wonder you feel frustrated with your efforts.
Aim for a smaller "targeted" market of 1000 interested potential buyers who want what you have to offer. Lets say 10 become clients. That is the same figure as above but you achieve it with less effort. Actually since this is a targeted group, your closing rate will probably be higher.
Decide which marketing techniques to use after you determine your market groups.
Taking the time to research and identify your target market may seem like it's going to take longer before you see results. In reality, it speeds up the process of achieving your goal...profitable business with less effort.
If your business feels like it is stuck in "mud"....quit wasting your most valuable asset... "time"... on M.U.D. marketing.
Remember...if you try to sell to everyone, you end up selling to no one.
About the Author
Ann Rusnak is the 15 Minute Time Coach who helps entrepreneurs use The "15 Minute a Day" Technique that puts them in control of their time to grow their business faster and more profitable in less time with less stress! Subscribe to "Just 15 Minutes" and receive time saving information to grow YOUR business in less time. Send blank email to ebiz@just15minutes.com
support@just15minutes.com
http://www.just15minutes.com
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