Written by: Vickie Sullivan  |  August 17, 2021

Before You Jump into the Marketplace, Do This

A lot of us think once we determine the services and products we can offer and our message that we can jump into the marketplace. Not so fast.

Before you start any marketing, you need a strategy. You can’t just “hang your shingle” and hope people call.

Two things you must have before you enter the marketplace:

• Target markets: Knowing who you want to serve is just as important as what you want to advocate. These decisions drive a broader conversation about your business model (see below). Deciding the “who” sets the stage for you to create the best messaging, shifting the focus from you to them. Deciding on your targets first prevents the “pounding a square peg into a round hole” trap.

• Business model: Where will your revenue come from? Who are you targeting? What’s the price point? This determines not only the best marketing channels but also the context to drive interest. Again, potential buyers are the focus, not you. By determining how you will generate income and your target buyers, you can avoid marketing expensive options to prospects who have small budgets.

Listen: How to Develop the Best Business Models 

It’s tempting to base your marketing on your passion. While following your heart is critical, the marketplace drives the brand strategy. So, use your passion as a foundation, and use your market strategy as a springboard.

Now Read This:

• Before You Pivot Your Business, Consider This
• My Turbocharged Business Model Toolkit: How to Pick the Game You Can Always Win