I talk to clients about the 4 Ms of Marketing because it helps to identify problems in their existing marketing.
The 4 M's Of Marketing
- The First M of Marketing - Your marketing Mindset – being committed, proactive, committed and intentional amongst others.
- The Second M of Marketing - Your target Market – the clients that you are ideally suited to serve or who you most want to serve).
- The Third M of Marketing - Your marketing Message – how you attract your target clients and convince them to buy.
- The Fourth M of Marketing - Your marketing Media – the ways that your message reaches your target market.
Others have shared with me their 4 m's of Marketing and it included measurement. As I have a preference for direct response marketing I have sympathy for that being included but I've learnt from past mistakes because I once got carried away with investigating the Ps of marketing (this is my most popular blog).
I have since added in measurement to create the 5 M's Of Marketing.
Your Marketing Mindset
Let's delve into the first M of marketing, your mindset because it's a critical but often overlooked area.
As a small business owner, you know how important the mindset issues are and how limiting beliefs and negative emotions can cause you to self-sabotage your own success.
It happens a lot in marketing.
Marketing is tough. You're trying to get others to take action and while you know it will benefit them, it will also put money into your bank account. Your prospects on the other hand know it will benefit you but only might benefit them. They are suspicious and have no trouble thinking of reasons not to act.
This creates a vicious circle.
You're marketing doesn't work as well as you want so you become more reluctant to do it.
I find a lot of people don't want to be “too salesy”. As if there is something wrong with making a case for buying what you are selling.
I've got some sympathy with that view as an accountant and coach. Pitching (or bragging) doesn't come naturally to me but talking to people, finding out their problems and then explaining how I can help them does.
I've made the mistake in the past of selling/persuading too hard and being more committed to creating change in the client's business than the client is.
Unfortunately it's a no win situation, the client must want to change.
Since then I've followed Marshall Goldsmith's advice - “If they don't care, don't waste your time.”
However I also believe the logic from marketing legend Jay Abraham. If you have a prospective client with a serious problem you can help solve, then you owe it to them to do whatever you can to help the client take committed and purposeful action.
Just about every coach I know works as a coach because they want to help people first and earn money second.
To reach your potential to help people, you need to excel at marketing.