| Step 1: Where Am I Now? | | | | campaigns. On-line promotional opportunities are more |
| | | | abundant than ever, so consider designing a Web site |
| Before you decide where you want your marketing | | | | or uploading information into a news group or special |
| plan to take you,you need to find out where you are | | | | interest forum. |
| now. How have you positioned your business in the | | | | |
| market? How do your customers see you? You may | | | | Write out each strategy, and beneath it, list key |
| want to ask some of them for feedback. Write four | | | | messages and tactics. Here's a sample: |
| or five paragraphs that summarize your business. Be | | | | |
| sure to include philosophy, strengths and weaknesses. | | | | Strategy: Position myself as the market leader in |
| | | | lease purchasing in my community. |
| | | | |
| Step 2: Setting the Goal(s) | | | | Key messages: DeFiore Enterprises is a reputable, |
| | | | trust-worthy name in lease purchasing your home. |
| Once you decide where you are, you can decide | | | | |
| where you want to go. What you're trying to | | | | Tactics: Approach local community colleges about |
| accomplish? Do you want to increase sales? Change | | | | teaching a home-buying class using the niche of lease |
| the perception of your business among target | | | | purchasing. |
| audiences? Generate more store traffic? Enter a new | | | | |
| market where you may not have much experience? | | | | Propose a feature story to a local paper about "10 |
| | | | Things to Look for When Buying a Home," with you |
| After you have answered each of these questions | | | | as the expert to be quoted. Create a brochure |
| or any others you come up with, you want to make | | | | entitled "Secrets of Buying a Home With The Lease |
| an outline for each of your goals, and be specific. | | | | Purchase Advantage." Offer it free to people who |
| While you should be optimistic, you will also need to | | | | call. |
| be realistic. You need to be realistic in what you | | | | |
| expect your marketing plan to do. Also, while it's fine | | | | Issue a press release about the free brochure to |
| to have multiple goals, be sure to prioritize them so | | | | local media. Send informational brochures to real |
| you can create a realistic plan to achieve them. | | | | estate agents and mortgage brokers who refer |
| | | | home buyers to you. For each step you plan, keep |
| Step 3: Getting To Your Target Audience | | | | asking yourself, "Why should I do this?" |
| | | | |
| Who are your target audiences? If you say | | | | Don't decide to do big, splashy promotions if you |
| "everyone," you need to rethink your answer. Even | | | | really can't afford them. Smaller, more frequent |
| the largest companies don't market blindly to every | | | | communications are much more effective if your |
| individual. They break their audiences down into | | | | budget is limited. Don't forget to send |
| distinct profiles, or niche markets, and create | | | | communications to your networking partners. |
| messages and vehicles designed to reach each | | | | |
| segment. | | | | Finally, be sure the promotions you've selected |
| | | | project the right image. If your audience is |
| Define your niche markets as clearly and specifically | | | | conservative, don't stage an outrageous promotion. |
| as possible. If you're reaching out to businesses, | | | | Similarly, if you need to project a cutting-edge image, |
| describe which type, including the industry, revenue | | | | make sure your efforts are sophisticated. Also, be |
| level, location and other important characteristics. If | | | | sure you have made friends with the media. Update |
| consumers are your audience, describe their age, sex, | | | | your press package to reflect changes you have |
| income level, marital status and other relevant facts. | | | | made. |
| If you identify several market segments, rank them | | | | |
| in order of priority. | | | | Step 6: The Importance of Budgeting Your |
| | | | Resources |
| Step 4: Research and It's Role In Your Plan | | | | |
| | | | Home business owners believe marketing is an |
| Now that you've outlined where you are and where | | | | optional expense. This is one of the most tragic |
| you want to go, it's time to determine the best way | | | | myths in business. Marketing expenses should be |
| to get there. | | | | given priority, especially in times of slow cash flow. |
| | | | After all, how are you going to attract more business |
| Nothing will get you where you want to go faster | | | | during the slow times if you don't tell customers |
| than research. Information about your target | | | | about your business? Take a realistic look at how |
| audiences is available from a variety of resources, | | | | much money you have to spend on marketing. While |
| many of them free. | | | | you shouldn't overextend yourself, it's critical that |
| | | | you allot adequate funds to reach your markets. If |
| So be sure to take some time to find out about the | | | | you find that you don't have the budget to tackle all |
| demographics (physical characteristics) and | | | | your markets, try to reach them one by one, in |
| psychographics (psychological characteristics) of your | | | | order of priority. |
| target markets. Demographics outline such factors as | | | | |
| age, geographic location and income level. | | | | For each of your tactics, break down each expense |
| Psychographics offer insight into trends, buying | | | | and outline the estimated cost of each. For example, |
| habits, market segments and the like. American | | | | a brochure includes writing, photography, graphic |
| Demographics magazine has a Web site ( that offers | | | | design, film, printing and delivery. From there, you can |
| access to articles about various consumer and | | | | beef up or pare down your plan, depending on your |
| business market segments. | | | | financial situation. |
| | | | |
| Trade associations and publications are often great | | | | Step 7: The Importance of Timing In Your Projects |
| places to start your research, especially if you're | | | | |
| reaching out to businesses. Use your own and your | | | | Now that you've broken down the steps involved in |
| target industries' trade resources for market | | | | each activity, be sure you set aside the time to |
| information. Many associations have Web sites, and | | | | accomplish the steps for each project and set a |
| many publications are also available on the Net. For | | | | deadline for each project. Again, make sure you're |
| information about consumer audiences in your region, | | | | not overextending yourself, or you may get burned |
| try your state or county's department of economic | | | | out. It's better to start with smaller, more consistent |
| development. In addition, the SBA offers limited help | | | | efforts than an overly ambitious program you'll never |
| with market research. | | | | complete. |
| | | | |
| Once you've gathered this information, write a | | | | Step 8: On Your Mark Get Ready, Set, and Now Go |
| detailed profile of your audience segments. Include all | | | | For It! |
| the demographic and psychographic information | | | | |
| you've gathered. For instance, if you're selling a | | | | With the above steps you now have in your hands |
| product to homeowners in Smithville, USA, find out | | | | the most effective "to do" list you'll ever write. You |
| what percentage of people own homes in Smithville. | | | | have prepared a document that can help you reach |
| What is the average household income? Do most | | | | your market segments from a position of knowledge |
| homeowners have children? The more specific your | | | | and expertise instead of from shoot-from-the-hip |
| profiles are, the better. | | | | hunches. |
| | | | |
| Step 5: Planning the Action | | | | Now you need to use your marketing plan. Make it a |
| | | | part of your "to do list" every day. Will it grow and |
| This is the crux of your plan. For each goal you've | | | | change? Sure will. Also, as your business reaps the |
| outlined, create a strategy, complete with your key | | | | benefits of your initial strategies, you may want to |
| messages and steps that will help you accomplish the | | | | increase the scope of your marketing. If you find |
| goal. Don't forget that you have many tools at your | | | | something is not working, change it. |
| disposal. | | | | |
| | | | Remember, consistency and continuity, delivered with |
| As you examine each of your goals, conduct a | | | | a dash of creativity, give you the formula for |
| mini-brainstorming session. Consider the best ways to | | | | successful marketing. |
| get your message out. You may decide to use | | | | |
| newspaper, radio, TV, magazine or outdoor | | | | Copyright 2004 DeFiore EnterprisesInterested in |
| advertising;direct marketing programs, including | | | | having your own successful, home based creative |
| postcards, sales letters, fliers, business reply cards, | | | | real estate investing business? Chuck and Sue have |
| newsletters or toll-free response numbers; or public | | | | been helping folks start successful home based |
| relations elements such as publicity, events, speaking | | | | businesses for over 19 years, and we can help you |
| engagements, sponsorships and opinion polls. Perhaps | | | | too! To see how, visit for the latest FREE tips and |
| you can accomplish your objectives and cut costs by | | | | tricks, educational products and coaching in creative |
| teaming up with related, non-competing businesses | | | | real estate investing and home based businesses. No |
| for in-store promotions or cross-promotional | | | | time to visit the site? |