Build a Money-Making Marketing Plan That Works!
This Friday -> The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand Out From The Crowd by Allan Dib [4 min reading]
On Startup Salad I break down a business book’s key takeaways in a simple, digestible format, just like a good salad!
Hey, it’s Fede!
Every founder will tell you they're driven by noble goals, but here's the hard truth:
"Money is the most important thing in a startup."
It’s hard to hear, but every mission or vision needs money to become real, and startups can only make money in one way:
SELLING.
And what do you need to sell?
Your audience has to know you, like you, and buy from you = MARKETING.
Today, we’ll look at how a startup should create a winning marketing plan, without getting stuck in a long, endless plan that some consultants make you write (just to justify their fees).
Today's book: The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand Out From The Crowd by Allan Dib
Here you can find the famous 1-page marketing plan Canvas:
This canvas is all you need to structure your marketing strategy.
Filling in those spaces isn’t very simple, so I’ve prepared a 3-step guide (before, during, and after) to explain what you should include for each of the nine blocks.
Let’s start!
Pssst: every time you see a🔥 it means the takeaway is very hot!
Before (prospect)
Summary: Let your audience know you're here and try to make the first connection, like collecting an email address.
My target market
You need to find it, it’s a must. You have to define your niche for two reasons:
To optimize your marketing investment in a focused way.
To give people a reason to choose you. For example, if you want to sell yogurt, focus on offering post-workout protein yogurt, it will be easier to sell because people with that specific need will choose yours over others.
Personal note: To understand which niche to target, take a look at my previous newsletter on market analysis.
My Message to my target market
Build your message by answering these questions:
What is the purpose of your ad?
What does your ad focus on?
What is your value proposition? (Remember, the USP could be in the service around the product, not just in the product itself).
Be attractive to your audience, win them over first emotionally, and then their logic will justify the purchase.🔥
The media I will use to reach my target market
This point will have the biggest impact on your ROI.🔥
It's probably one of the decisions that will either make or cost you the most money.
It’s complicated, with many different channels to consider. If you have the chance to consult an expert, it could be worth it in this case.
During (Lead)
Summary: Now you are dealing with the leads you generated in step 1. Your goal is to capture their interest and sell them your service.
My lead capture systems
Your focus should be on being a farmer, not a hunter.🔥
In other words, don’t aim for an immediate sale, focus instead on creating leads of people who are genuinely interested in what you do.
This will make your sales easier and more consistent over time.
My lead nurturing system
It’s the process that takes leads from being interested in what you do to having a deeper understanding of your offering, which motivates them to make a purchase.
There are three steps:
Attract them, with an ad, a free sample, or a free trial.
Save them in your database.
Consistently provide them with useful information and updates through a regular newsletter.
My Sales conversion strategy
Now, you need to take the next step by positioning yourself in the right way and at the right time to close the sale.
No matter what product you want to sell, NEVER apply the ABC (Always Be Closing) theory. It only makes sense for very cheap items. Almost never for a startup. 🔥
Whatever technique you use to close the sale, remember that you can always take a step back, giving the other person the freedom to say no. After all, you’ve saved them in your database, and you can always try again in the future when they’re ready to make a purchase.
After (customers)
Now that the customer has bought from you and trusts you, it's time not only to keep the promises you made but also to leverage this trust for potential cross-selling or up-selling.
A customer who has already bought from you is much cheaper to retain than acquiring a new one.
How I deliver a world-class experience
As we saw earlier, your product needs something to stand out from the others. That’s crucial for sales.
But if you want the customer to become loyal to you, you need to turn them into a fan, and this is even more important if you’re selling a boring product.
You have to sell what the customer wants but give them what they need.
An example of this is vitamin pills, which contain the vitamins (what they need) inside but often taste like candy to make them more enjoyable (what they want).
How to increase customer lifetime value 🔥
Five ways to make money from existing clients:
Raising prices: It’s important that the price increase is justified and lower than the cost of switching to a new supplier for the client.
Upselling: If a customer is happy with your product, they’re likely to buy another one that further improves their experience.
Ascension: Try to get your most loyal customers to gradually purchase higher-priced products from your range.
Frequency: Sell a product that requires regular maintenance to stay effective, or offer other products to the same customer.
Reactivation: Reach out to past customers with new offers, bringing them back as active clients.
How I can stimulate and orchestrate referrals.
Referrals are one of the best ways to grow your business, but they’re not always easy to make happen.
Generally, they don’t occur spontaneously, but you can stimulate them.
For example, many digital banks offer a bonus not only to the new person you bring in but also to you.
This encourages growth at a much lower cost, as customers who come through referrals are generally of higher quality.
Now you have all you need to prepare your marketing plan. Let me know if you think something is missing!
The guidelines you need to build your startup:
See you next Friday,
Federico Lorenzon