DIY Marketing

SUBJECT: Time to work on your “number one, number two” strategy. Are you playing offense?

Hi, welcome to day 3 of the Entrepreneurs
30-day Do-it-Yourself Marketing e-Course! Let’s continue!

Oh, and if you just signed up, you can see the course info we’ve
already covered right here:

http://www.diymarketingmonth.com/e-course-email-recap/

==================================================================
“Every GE business unit should be number one or number two in its
market, or else. Or else what? “Fix it, sell it or close it”
– Jack Welch

“It’s time to quit when you secretly realize you’ve been settling
for mediocrity all along.”
– Seth Godin
==================================================================

Jack Welch, the former CEO of General Electric is famous for demanding
that his business units be in the number one or two position in their
respective markets, or be a close number three and moving their way up
fast. The alternative? They’d get shut down, divested or otherwise
killed off. What most people don’t know is that Welch devised this
strategy in the early 80’s as a way of hedging against the effects
of inflation. Welch viewed that any mediocre supplier would not
survive at the ‘middle of the pack’ and thus needed to get to that
coveted one or two spot or get out of the way.

In the context of your business, it may not be appropriate to
say that you have to be number one, two or three based on Welch’s
1980 rationale. However, the lesson here as that your marketing
should be working on offense to position you as the most, or second-
most relevant player in the market that serves the customers you
serve.

If you’re a flower shop, you need to define and approach your
market in a way that you can dominate. If you’re consultant, and
I know that there are many of you in professional services in this
course, you need work in segments where you can offer genuine
differentiation and move yourself, if you’re not there already,
into one of the top three (3) spots in the market you serve.

Think about the medals podium on race day. Who gets there? Do
you see 4th place on the podium? No. It’s one, two, three or
nothing!

In his book ‘The Dip’, Seth Godin, he redefines “best in the
world,” it doesn’t have to mean you have to be the Michael Jordan
of your industry. The “world” is whatever world your market
chooses from. The best chiropractor in town or the best
consultant for mid-sized manufacturing companies in your state.

The best entrepreneurs are “market artists” and experts at
creating new markets. Part of the work of the successful
entrepreneur is to imagine the market that can exist that they
can lead with their unique “best in the world that matters to
their customers & prospects” service, product or offering.

***** ACTION SUMMARY *****
1. If you don’t already have a list of who you compete with on
a day-to-day basis, make that list now and list the 3 most
important characteristics that make you alike and that make you
different.

2. If we’re going to play offense, we’ve got to work from a
position of strength. Look at the differentiators and brainstorm
two ways that you could express those this week to you target
market. Maybe you make some phone calls to ask a question no one
else is asking, or send an email with some helpful links or
start planning a seminar to attract the right market segment to you.

***** RESOURCES *****

>> If you’re never read the Bootstrapper’s Bible, it’s a great and
free resource for all entrepreneurs trying to play offense and win
in their respective markets.
http://www.changethis.com/8.BootstrappersBible

>> Market segmentation is a science all its own. If you’re seeking
help in defining who it is you serve so that you know where you
need to be in order to achieve that coveted podium spot, I recommend
reading this thorough article on market segmentation.
http://www.b2binternational.com/library/whitepapers/whitepapers23.php

Well, that’s all for now! Be on the lookout for next lesson
tomorrow morning!

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

If you would like to learn more about MarketingSavant’s marketing
strategy, thought leadership or social media services, where you
work directly with me to build your business through strategic
marketing, go to:

http://www.marketingsavant.com/diymarketing

I’ve created a special set of offerings just for DIY Marketing
e-course members.

And, as always… think big and market well!

Yours truly,

Dana VanDen Heuvel

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

MarketingSavant(TM)
Leading Through Thought
Social Media // Thought Leadership Marketing
www.marketingsavant.com
dana@marketingsavant.com
Twitter: danavan
888-989-7771
—
Sign up for the MarketingSavant Newsletter
http://www.marketingsavant.com/newsletter
—
Book Dana to Speak at Your Event
http://www.marketingsavant.com/speaking
—