Issue link: https://read.dmtmag.com/i/609009
DECEMBER 2015 24 THE JOURNAL The 3 x 5 Marketing Plan BY SCOTT STROUD MARKETING CONSULTANT Marketing isn't rocket science. In essence it's pretty simple: find the people who want and need your product, show how their lives will improve when they buy it, and compel them to take ac- tion. So, why are Marketing Plans so complicated? Largely because most of us only write a marketing plan when we're trying to convince a bank or in- vestors to give us money. In reality, you should be planning your marketing for your self, regard- less of whether you'll be attracting investors. I' believe that marketing is really just a matter of asking the right questions, and that those ques- tions can usually fit on a single 3x5 card. So, with the new year looming just ahead, why not take out a 3x5 card or a napkin, and start giv- ing some thought to how you will attract enough new business to meet your sales, revenue and lifestyle goals for the coming year? To get you started, here is my rendition of the 7 Ps of Mar- keting for communities, retailers and builders. Each should be addressed as a question. Your an- swers will reveal what you will need to do or invest to meet your stated goals. Purpose: Why am I doing this, and what do I want to accomplish? Always, always start with yourself in mind. Why are you in business? What are your long- term objectives as well as your short-term goals? What specific results should does your marketing need to achieve? For example, if you are a salesperson your ob- jecting could to generate immediate sales. Or, you could be taking a more long-term view of building a career. If you're the owner you likely have both immediate and long-term objectives: meeting this months cash flow requirements while building a legacy that will serve you when you're ready to re- tire. Understanding and segmenting your market- ing goals will allow you to be purposeful and address them all. I find that too often business owners fail to set specific goals, and that makes their marketing im- measurable. "To sell more homes" is not a goal; it must be quantified. "The goal is to deliver 10 units this month" is specific and measurable. With that goal you can begin to calculate what it will take to sell those 10 units with that deadline. Prospects: Who are my ideal buyers? In home sales, we tend to take what we can get. However, a little planning might change that. When we identify and target our ideal cus- tomer - the buyer profile that is the easiest to sell, makes the best resident, is the most profitable buyer, or requires the lowest maintenance - then we can structure all our marketing to reach and cater to that profile. The result will be that we may also attract other similar buyers, but our mes- sage will resonate most with those who are our best customers. Sure, this take a little thought, but the results are huge in terms of streamlining our business with our most appropriate customers. That could allow you to maintain a smaller inven- tory, few models or options - even fewer discounts or incentives. Place: Where are my ideal buyers most likely to find and engage with me? Your physical location is still important, but your online presence is critical, since that's how 90% or more of your buyers are finding you, or at least trying to find you. So, location now means making sure your website is being found by your prospects, and that requires a good SEO program, paid search campaigns, and directory listings that generate high traffic, such as MHVillage or your manufacturer's site. Product: What do my ideal buyers want, need and are they willing to invest in? Choosing the models, styles, options and serv- ices that are most appealing to your ideal buyers (their 'Hot buttons') is critical to the success of your marketing program. It takes research and thought to correctly identify these items, but it's not difficult to do so. Start by looking at what your current buyers choose or ask for most, then build from there. Visit other communities to see what's working at similar properties, or what options your supplier finds most popular. Then, feature these things in your marketing presentation. Make sure you have powerful visuals that describe each of these - photos, videos, color charts, etc. Presentation: What message will my ideal buyers respond to? When you know clearly what they want and have identified the products that will deliver the highest impact, then carefully compose your mar- keting message in a way that clearly states the ben- efits that buyer will realize when they live in your home or community. This should always be a re- sult of your research and presented from the buyer's perspective. Use 'away' messaging that helps them see how their life will improve when they move out of their current home - and all it's problems - and into yours. Crafting your value proposition is where art meets science, and it is the most important part of the mix. Price: What price is my ideal buyer willing to in- vest for their ideal product? "Price is the bottom line" I'm often reminded, and in fact that's where it should be - at the bot- tom after you've considered all else. And your ideal price point will depend on how well you've identified your ideal buyer, their ideal product and how motivated they are to buy. Create your value message based on these factors and your price will be accepted. Promotion: What will I need to do to get sales moving? Promotions or discounts should never be offered before your value proposition is accepted, and only when necessary to close a difficult sale or as a lead generation tool (Labor Day special; 2015 close- outs, etc.) Do all else well and you may seldom need additional promotions. So, there you have it - the key questions that will get you started on your marketing plan. Now, grab a 3x5 card and get started! Scott Stroud is Business Development Manager for Power Marketing & Advertising, a full-service mar- keting firm working exclusively with housing compa- nies and communities. Scott is an Infusionsoft Certified Partner with over 30 years of exceptional results in marketing factory built homes, and can be reached at scott@Power-marketing.com or at 240-420-6343. T J