“Focus on the fundamentals” is a phrase that is often heard in many different contexts, but is especially relevant when it comes to marketing. In today's world, there is an overwhelming amount of information and marketing channels available to business owners, making it easy to get distracted and focus on the wrong things. However, the key to successful marketing is to identify the basics and remain committed to performing them.
This is something that Tim Fitzpatrick, the guest of this Powerful Marketing Tips podcast episode, understands well. Tim has more than 20 years of entrepreneurial experience with a passion for developing and growing businesses. With his company Rialto Marketing, he has been helping B2B professional service firms accelerate their revenue growth and attract more ideal clients since 2013. He believes that marketing shouldn't be difficult, but you have to remove revenue roadblocks if you want to grow consistently and predictably.
Tim believes that many people skip the fundamentals because they are overwhelmed by the amount of information and feel the need to take action and be everywhere. However, this lack of focus on the basics can lead to marketing vehicles lacking the fuel they need to get results.
The 3 marketing fundamentals
The first fundamental in marketing is to identify your target market and your ideal clients within that market. Without a clear understanding of the market you're serving and the people you want to work with, everything else you do will suffer as a result. It's important to focus on a smaller, more specific target market rather than a broad one because it is more cost-effective and you will have a better chance of resonating with them.
The second fundamental is to get your message right. One of the best ways to do this is to interview your ideal clients to get a better understanding of their needs, wants, and challenges. This will help you create a message that resonates with them. It's important to keep your message simple and clear. Don't try to be too clever or use too much jargon. Your message should be easy to understand, so your ideal clients can quickly identify with it. Additionally, focus your message on how you can help them solve their problem and get the result they want. Don't talk too much about yourself; focus on your ideal clients.
The third fundamental is to develop a plan for how to get that message in front of your ideal clients. This is where having a 90-day plan comes in. In Tim’s experience, having a plan that is 90 days keeps things simple and focused on the next steps to take. It is long enough to start seeing results, but short enough to make course corrections if needed.
Tim then explains his six-step 90-day marketing plan. The first step is to identify your target market. Write at least a paragraph about your one to three ideal clients. This is important because everything in marketing starts here. Second, is to set a goal that is specific, measurable, and time-bound. Third, is to determine your budget and resources. Fourth, is to get a baseline of what you have done up to this point and what you continue to do on a regular basis to market your business. Fifth, is to look at what activities you will do to reach your goal. And lastly, sixth, is to review and measure your plan.
Adapt or die
The phrase “adapt or die” is a reminder that businesses must be flexible and willing to change in order to stay competitive. Taking the time to create a 90-day plan will help you reach your goals and be more successful in your business. By understanding your target market, tracking the right metrics, and focusing on what’s already working, you will be able to stay ahead of the competition and keep up with changing trends and technologies.
However, it’s important to remember that success isn’t always immediate. In order to achieve long-term success, you must focus on long-term results. This means focusing on the bigger picture and taking a step back to look at the trends and projections for the future. You need to analyze the data and determine which strategies will be most effective in the long run. Marketing is not a sprint, it’s a marathon.
- “If we don't have a clear understanding of the market we're serving and our ideal clients, the people that we really want to work with within that market, everything else that we do down the line is going to suffer as a result.” (6:32)
- “We really need to hone in on who those ideal clients are. And I like to start by asking, I call them the three power questions. So, for a business that has been in business for a while, you have some past clients that you can go back to. Start with the three power questions: 1) Who do we love working with? 2) Who are your most profitable clients? 3) Who do we get great results for?” (7:42)
- “What I think is more important than the demographics are the psychographics of these people. What are they thinking as it relates to what you do? What are the common problems that they have that you can help them solve? What results, outcomes, benefits are they looking for? What roadblocks do they have? Those are all examples of psychographics. The psychographics really help you start to get in their head and enter the conversation that they're having in their head as it relates to what you do.” (10:06)
- “The second fundamental is your marketing message, how you communicate your value and what you do. You can only create a clear, engaging message to attract your ideal clients. Once you understand who those people are, right. It seems simple, but so many of us just skip it. And your message is critically important.” (13:55)
- “The second big mistake people make is they talk too much about themselves. Our clients don't care about us. That's the reality. What they care about is how we can help them solve the problem that they have and get the result they want, right? Get from where they are to where they want to be. That's what they care about.” (14:58)
- “I think having a plan is critical. Otherwise, it's very easy to get distracted, to be like a squirrel chasing a nut and you're just very haphazard.” (19:27)
- “If we don't outline what metrics we're going to track, we have no idea what's working and what's not. And we can't make strong decisions about what course corrections or changes we need to make.” (25:37)
- “Marketing is not a sprint. It's a marathon. It's something that we just do consistently over and over and over again. It's like an investment, right? You just keep investing over and over and over again, and it starts to build upon itself. You can't turn marketing on and off. And inevitably, when we think short term about our business, whether it's marketing or just our business as a whole, I will guarantee you that most of the short term decisions you're making are detrimental to the long term benefit and health of your company.” (33:32)
- [00:04:55] The importance of marketing fundamentals.
- [00:08:26] Ideal clients.
- [00:13:54] Building a marketing message.
- [00:15:59] Interviewing ideal clients.
- [00:20:23] 90-day marketing plan.
- [00:33:28] Thinking long-term in marketing.
Connect with Tim Fitzpatrick:
- Website: https://www.rialtomarketing.com/
- The Revenue Roadblock Scorecard: http://revenueroadblockscorecard.com/
- The 90 Day Plan: http://growthmarketingplan.com/
- LinkedIn profile: https://www.linkedin.com/in/timpfitzpatrick
- Twitter: http://www.twitter.com/rialtomarketing
- Facebook: https://www.facebook.com/rialtomarketing/
- Pinterest: https://www.pinterest.com/rialtomarketing/
- LinkedIn Page: https://www.linkedin.com/company/rialto-marketing
- YouTube: https://www.youtube.com/@RialtoMarketing