The 5 M’s Of Marketing That Produces Stunning Results
A magnetic marketing formula that generates leads and converts sales without cold calling
Marketing is the lifeblood of any business. It supports and fuels sales efforts and creates the brand or name recognition that, for good or bad, the company develops over some time.
Done right marketing will create unlimited lead generation, sales conversions, customer loyalty, and sustained referrals. All of these are golden to any business operation.
Unfortunately, too many businesses don’t understand the basics of how to create an effective marketing system to produce all the above. As a result, they flounder in the dark shooting their marketing arrows blindly and often never hitting the audience bullseye that wants what they are offering.
This article sheds a bright light on a marketing strategy that reveals the ideal target market for any product or service that a business might offer and how to hit the target market bullseye and generate quality leads, create value-based relationships, and produce customers who are loyal and become repeat buyers.
This is a simple system or formula yet powerfully effective. I call it the 5 M Marketing Formula. It is a system that I have personally used over the more than 30 years of my legal service and entrepreneurial experience and they have propelled me to be blessed to earn as much as seven figures within a 12 month period as a one-person owned and operated business.
The M’s stand for Mindset, Message, Market, Media, and Measurement. Three of the M’s I learned from a master marketer, whom I’ve studied under and learned from over the years. I added 2 more M’s because of the trial and error methods I’ve tried over several years and know that these M’s are crucial as well.
Here’s how these 5 M’s work together:
1. Mindset — It all begins with the right Mindset. Let’s begin with setting the stage for your business’s success. Whether you are starting your business or have been in business for some time, it matters little if you don’t have the right mindset about caring for and properly operating your business.
Setting the stage starts and ends with having the right mindset. Perhaps you ask, “What does that mean? What kind of mindset should I have?”
The definition of mindset is — A set of beliefs or a way of thinking that determines one’s behavior, outlook, and mental attitude. A habitual or characteristic that causes you to act in a certain way regarding the things you encounter or have to do.
Read the content within the image below. It sums up what mindset is all about.
You must have a mindset that causes you to habitually and consistently market what you are offering for sale. The mindset must be one of testing to see what works, making changes wherever needed, and sticking with the system or formula until you find the best return on your marketing efforts and then sticking with it no matter.
You only make changes when there is something that has demonstrated it beats the model you’ve already set up. Here’s the mindset checklist:
- Make a decision and a commitment to do the work required to train your thinking and your emotions into patterns that allow the success you desire to come to you.
- Recognize the first step required to attain the accomplishment you want in your life is to get your mindset into a place that not only stops creating barriers to this success but attracts all the necessary components for success to you.
- One of the vital elements of a success mindset is the belief that success is possible; not just in theory, or for other people, but in practice, and for you.
2. Market — your mindset should have a focus on an identified audience or market that best matches up with what you are offering. Prospects and customers want things that solve their problems. They want things that are going to remove their pain and move them toward pleasure and enjoyment.
They crawl the internet, read articles, look for videos, news, anything that will give them value and will give them what they want right now.
The more your product or service provides value in solving a problem or helping to overcome whatever it is people might be facing the more it will generate leads and sales consistently.
Avoid This Marketing Mistake
It is a big mistake to try and sell to everybody. It is best to find a particularly identified target market for your offer and only concentrate on that market This is also referred to as a “niche market.”
A marketing niche is a group of people or businesses that is ultra-specific in identification with clearly defined characteristics, emotions, income range, life values, etc. The narrower you can define them the better because they will be the most responsive and ready to buy from you.
There is a saying in the marketing industry that has a lot of truth. It says “if you want to be rich find a niche. If you want to go broke market to all the folk.”
Yes, I know, perhaps it’s a bit cheesy but it’s real and it works. Isn’t that the bottom line you’re looking for in marketing — something that works? Marketing to everyone defeats the purpose and is just a waste of time and money. Just narrow your market and go for it.
How to find your target market or “niche”
You find your niche market by doing research and determining the demand for what you are offering. This task is made easy by using free tools like ubersuggest.io and other free tools you can use to find the people who are looking for what you are selling. Ubersuggest is a free marketing tool with tutorials.
Take the product or service you offer and place it into Ubersuggest’s search box and it will immediately provide you with the number of people searching for what you are offering. Also, it provides you with age, income, desires, competitor analysis, etc.
This would be your target market. Once you’ve identified your ideal target market or audience you develop your message or messages that are designed to capture that target market’s attention and get them to take the desired action you want them to take.
Your goal should be to create a relationship and not necessarily an immediate sale, although that may happen. People do business with businesses they come to know, like, and trust. Do this through giving value first and the rest will come in due time.
Marketing is not a sprint. It’s a marathon. It works best as you keep running your message to your market and building relationships over time.
3. Message — your marketing message should be directed to the identified target market that your product or service solves a problem for.
Forget every other market. Narrow your message to the niche market that your research has identified and is hungry for what you are offering and show how the product or service relieves the pain or solves the problem, whatever it is, that the prospect or customer is experiencing.
Make sure you clearly outline the benefits of what your product or service does and how it can be used to achieve the desired results the target market is looking for.
Don’t dwell too much on features. Features describe your product or service’s functions and descriptions. These are much less important than the benefits your product or service delivers.
Clearly show and demonstrate in your message the benefits that a person or company will receive if they buy from you like the examples below:
- Removes stubborn stains without exposure to chemicals and harmful substances;
- Stops heartburn without any side effects by simply drinking alkaline water;
- This software generates leads and converts prospects into satisfied customers all on autopilot
Remember, people want results they are looking for, period.
By creating a clear message of what your products do for people, it automatically excludes those who are not part of your target market. This is exactly what you want. Market to the people that want and desire what you have. Forget all the others.
Remember, your goal is to create a relationship and not necessarily an immediate sale. People do business with businesses they come to know, like, and trust. Do this through giving value first and the rest will come in due time.
Marketing is not a sprint. It’s a marathon. It works best as you keep running your message to your market and building relationships over time.
4. Media — is simply the method or instrument that you use to communicate your message to your defined market. I have found that utilizing several media together works best.
For example, blogging, email, and social media (all of which are a form of media) should be the minimum media methods used by every business. These three methods of communication used together are powerful. Video, webinars, and podcasts are also very effective media.
Let’s say you create a blog post and describe within it the benefits received from using your product or service.
In that blog post, you include a link that provides a FREE Report or other digital product that can be downloaded and provides immediate value to the website visitor in exchange for their name and email.
This process generates a lead, which can be followed up with an email media campaign to create a relationship with the prospect who in turn may become a customer.
The blog could also be posted to any active social media accounts you might have such as Facebook, LinkedIn, Twitter, etc. This provides more exposure to your product or service to those who follow you on these social media sites and more importantly, your followers can repost to other people that follow them.
This combination of media works very well. However, if it is not consistently followed on a persistent mindset basis, the results won’t be very satisfactory. Often, this is the greatest challenge to busy business owners and it’s also where most drop the ball.
5. Measurement — Using the first 4 M’s is great. However, they must be measured to determine how successful they are. Those found to be successful should be repeated over and over.
The only time a change should be made is if there is something discovered that enhances or increases the return on your marketing dollar. Make small changes so you know what is making the difference.
This is sometimes referred to as “A & B” testing. A is always tested against B. If B outperforms A then B becomes the A model to beat and so on.
You can’t manage what you don’t measure. Without measurement, you cannot manage and make well-informed decisions on what’s working and what’s not. Using the 5 M’s of marketing is a system that’s tried and true.
It can be regarded as a Magnetic Marketing System whereby you create it, set it, and monitor it and it will draw prospects, clients, and customers like a magnet.
Do you have a marketing system in place but it’s not working the way you would like?
If so, compare your present marketing system to the 5 M’s of marketing strategy, and likely you’ll see where your present marketing strategy falls short. We can help with that.
Would you like to have a magnetic marketing system in place if you don’t have one?
If the answer is yes you should use the 5 M’s of marketing described in this article. Our firm can help you. We concentrate on business development for small businesses. Legal services, copywriting and content creation for small businesses is what we do.
