The 1-Page Marketing Plan - Get New Customers, Make More Money, And Stand Out From The Crowd
How much do I want to read more? 7/10
This book is a mashup of many marketing sources. And an attempt to condense it to the max.
I like the way the author says he did mimic his mentors and didn't invent anything original on his own.
The explanations are clear. I guess it's a good book for a novice in marketing.
I wish I could tell you all ideas in this book were my inventions and that I’m some kind of marketing and business genius. The truth though is I’m a collector of elegant ideas. I rarely invent anything and when I do, it’s rarely worth writing about.
An early business mentor of mine, Mal Emery would often say, “I’ve never had an original idea in my life—it’s just too bloody dangerous.”
The secret of his success and subsequently mine, was to just model things that were known to reliably work rather than trying to reinvent the wheel.
In no particular order I’d like to acknowledge:
- Mal Emery
- Dean Jackson
- Joe Polish
- Pete Godfrey
- Dan Kennedy
- James Schramko
- Jim Rohn
- Frank Kern
- Seth Godin
INTRODUCTION - What’s This All About?
“the fastest path to the money.”
As Zig Ziglar famously said, “Money isn’t everything…but it ranks right up there with oxygen.”
the reality is that many business owners would probably be better off just finding a job in their industry. They would likely work fewer hours, have less stress, enjoy more benefits and more holiday time than in the prison they have created for themselves.
On the flip side, there are a few business owners that just seem to have it all. They work reasonable hours, have a fantastic cash flow from their enterprise and enjoy continuous growth.
“Why should I work for this idiot boss of mine? I’m good at what I do—I’ll start my own business.”
This is one of THE major mistakes made by most small business owners. They go from working for an idiot boss to becoming an idiot boss!
a good plumber is not necessarily the best person to run a plumbing business.
Professionals Have Plans:
- Doctors follow a treatment plan.
- Airline pilots follow a flight plan.
- Soldiers follow a military operation plan.
the 80/20 Rule:
- 80% of the land in Italy was owned by 20% of the population
- 80% of a company’s profits come from 20% of its customers
- 80% of road traffic accidents are caused by 20% of drivers
- 80% of software usage is by 20% of users
- 80% of a company’s complaints come from 20% of its customers
- 80% of wealth is owned by 20% of people
- 80% of effects come from 20% of causes.
doing more of the 20% stuff is your fast track to success.
The 64/4 Rule:
we can apply the 80/20 rule to the rule itself. So we take 80% of 80 and 20% of 20 and end up with the 64/4 rule.
the majority of your success comes from the top 4% of your actions. Or put yet another way 96% of the stuff you do is waste of time.
The Best Kept Secret Of The Rich
Struggling business owners will spend time to save money, whereas successful business owners will spend money to save time.
This is called leverage and leverage is the best kept secret of the rich.
By far the biggest leverage point in any business is marketing. If you get 10% better at marketing, this can have an exponential or multiplying effect on the bottom line.
why he robbed banks. “Because that’s where the money is.” When it comes to business the reason we want to focus so heavily on marketing is the same—because that’s where the money is.
Applying The 80/20 and 64/4 Rules—Your Marketing Plan
The marketing plan ended up being the 20% part of the business plan, that produced 80% of the result.
The 1-Page Marketing Plan is the 4% of effort that generates 64%.
What Is Marketing?
If the circus is coming to town and you paint a sign saying “Circus Coming to the Showground Saturday,” that’s advertising.
If you put the sign on the back of an elephant and walk it into town, that’s promotion.
If the elephant walks through the mayor’s flower bed and the local newspaper writes a story about it, that’s publicity.
And if you get the mayor to laugh about it, that’s public relations.
If the town’s citizens go to the circus, you show them the many entertainment, that’s sales.
if you planned the whole thing, that’s marketing.
marketing is the strategy you use for getting your ideal target market to know you, like and trust you enough to become a customer.
The Answers Have Changed
Once upon a time you placed an ad in the Yellow Pages, paid them a truck load of money and your marketing for the year was done. Now you have Google, social media, blogs, websites.
marketing tactics are like SEO, video, podcasting, pay-per-click advertising.
Strategy vs. Tactics
Strategy is the big-picture planning you do prior to the tactics.
You hire a builder and an architect first.
plan prior to a single shovel of dirt being moved. That’s strategy.
Then once you have your strategy, you can hire a brick layer, carpenter, plumber, electrician, etc. That’s tactics.
Strategy without tactics leads to paralysis.
Tactics without strategy lead to “bright shiny object syndrome.”
Think of your marketing plan as the architect’s blueprint for getting and retaining customers.
I Have Great Product/Service, Do I Really Need Marketing?
Good, even great, products are simply not enough. Marketing must be one of your major activities if you’re to have business success.
“Nothing happens until a sale is made.”
a good product or service is a customer retention tool.
before customer retention, we need to think about customer acquisition.
How To Kill Your Business
The most common way most small business owners decide on this is by looking at large, successful competitors in their industry and mimicking what they’re doing.
Large Companies Have A Different Agenda.
Large Companies Have A VERY Different Budget.
mass marketing is the domain of large companies.
Small and Medium Business Marketing
Direct response marketing
For example for every $2 spent on advertising, you get $10 out in the way of profits from sales.
- It’s trackable. you know which ad and which media was responsible for generating the response.
- It’s measurable. you can measure exactly how effective each ad is.
- It uses compelling headlines and sales copy. attention-grabbing headlines with strong sales copy.
- It targets a specific audience or niche. The ad aims to appeal to a narrow target market.
- It makes a specific offer. about the prospect’s interests, desires, fears and frustrations.
- It demands a response. “call to action,” When the prospect responds, as much of the person’s contact information as possible is captured so that they can be contacted beyond the initial response.
- Multi-step, short-term follow-up. In exchange for capturing the prospect’s details, valuable education and information on the prospect’s problem is offered. The information should carry with it a second “irresistible offer”
- Maintenance follow-up of unconverted leads. They should be nurtured and continue hearing from you regularly.
The 1-Page Marketing Plan
The Three Phases Of The Marketing Journey
prospects typically don’t even know you exist.
Ex: Tom is a busy business owner and is frustrated that he can’t keep his contacts in sync between his laptop and smartphone. He searches online for a solution and comes across an ad with the headline “Five Little Known Strategies That Unlock The Power Of Your Business IT System.” Tom clicks on the ad and is taken to an online form where he must enter his email address in order to download a free report. Tom sees value in what the report has to offer so enters his email address.
leads have indicated some interest in your offer.
Ex: Tom gets a lot of value from the report he downloaded. It has some genuinely good tips that he didn’t previously know and implementing them has saved him a lot of time.
a heavily discounted offer where they’ll send a technician to fix all the problems identified during the audit. Tom takes them up on this offer.
At the beginning of the “after” phase, customers have already given you money. The after never ends and when executed correctly, results in a virtuous cycle where the customer buys from you repeatedly and is such a fan of your products or services that they consistently recommend you and introduce you to new prospects.
Ex: Tom is extremely impressed with the professionalism of the technician that came in and fixed his IT problems.
a fixed monthly fee. Tom even refers three of his business friends.
Before (Prospect): Get them to know you and indicate interest
During (Lead): Get them to like you and buy from you for the first time
After (Customer): Get them to trust you and buy from you regularly and refer
ACT I - The “Before” Phase
you’ll identify a target market, craft a compelling message, and deliver your message to them through advertising media.
Chapter 1 - Selecting Your Target Market
Chapter 1 Summary
- Why targeting everyone with your product or service is a terrible idea.
- Why mass marketing can be harmful to your business and cost you far more than it makes you.
- How to use the “PVP index” to select your perfect target market.
- Why you should focus on a niche and become a big fish in a small pond.
- How to make price irrelevant.
- Why you should stop advertising a long list of products and services.
- How to go deep into the mind of your prospect so you can understand exactly what they want.