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Marketing Secret #24

The Path of Least Resistance



This next topic, which is related to getting leads and aligning with your business values, involves finding the easiest and simplest way forward. What does that mean?  And what does that have to do with getting leads?

Well, let’s back up a second, and talk about the dumbest thing I see every day.  What I’m referring to is that almost every business, markets backwards, and then is surprised to learn that hardly anyone is responding!

See, just about everyone does this:

They create, services or products from their company…and they expect to go out and find people to sell their products or services - to a cold market they know nothing about!!

This is a mistake of monumental proportions!  This typical method of trying to make money can work, if you have an unlimited capacity for spending money, wasting time, and have no concern for risk.

But, if you’re like most of us who want to do things, safely and cheaply, then I’m going to recommend another way. See, the reverse of the mistake I just told you about, is absolutely, positively, the best way there is to make big, gigantically big, money:

Do the research first and foremost before you spend your hard-earned money!

 
Make sense?

I hope so, because you must not spend any time thinking about the product or service you will produce until you’ve discovered where the market is !

As I’ve discussed before, a tightly matched message based on the right market research, is the best and safest way to go!  

Now, notice here that I keep stressing the market research, not the product or the service! 

There are literally thousands of potential tightly-niched markets out there. Your first job is to understand them; how big the market is; level of competition; potential for real growth; financial viability...and so on.  Even before you think about what kind of products/services they might buy from you!

If you could only have one asset, one tool, one advantage... What would it be?

Gary Halbert, Marketing Guru, uses the following in-seminar exercise to answer that:

Imagine you have a new food product or a great new fast food restaurant. You’re convinced it’s the best fast food operation ever devised. If you could add just one thing to put you over the top, what would you choose?  People usually say:  a famous celebrity spokesperson…”secret sauce”…a clever name…and on and on and on. All “product or service-focused” answers.

Gary says: “I’ll give you all that and still whip you…if I can have just one thing”:

MARKET RESEARCH!


Now that’s being “market focused”.

Whether you research your current audience to find out more, or you're seeking to enter a new market, the research provides you with all the information necessary to make the right decisions.  If you were about to embark on a journey, would you blindly jump in your car and just drive?  Or would you pull out a map and find the best route to your destination? Would you do a little research and plan your approach?


It amazes me how business owners make decisions about their marketing based on hear-say or information that is so outdated that you could use it to keep the door open. 

Unfortunately, business today is constantly changing and evolving.  As soon as you've executed a plan, the plan has to change.  That's why being ahead of your competitors using market research is the path to least resistance. 

Become a data and fact gatherer for your business, so you can make the best decisions at all times. 


Time to discuss your business growth, book a 30-minute no-obligation call with one of our team members.

Lets Talk Market Research! Lets Talk Market Research!


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