Fundamental Elements of Marketing

Key Vocabulary Words
Market- who is your target audience? What is it that they are most likely to buy?
Target audience- If you can define them, then you can find them. They are your main buyers.
Demographic- The person’s Age, race, and location.
Psychographics – How do they think, and what do they buy? People who buy things tend to buy the same things again. Get in their heads and put yourself in their shoes.

Ideal customers will ask – “Why should I buy this?” and “Why should I buy this from you?” You must have an answer for each. You need something special that separates you from your competitors. Be the big fish in a small pond.

Position or Brand yourself in the minds of your target client.

Cinecore Example:
Our ideal clients are directors of business development for Sony, Disney, WB, Universal, ABC, Paramount and FOX. They are tech savvy, drive nice cars, like products made by Apple, own nice homes, have families, have assistants, wear jeans and button down shirts.

Here, you have to ask yourself: “What makes us unique? What’s our niche?”

What’s Your Unique Selling Proposition?
This is the thumbprint of your business, your tag line. Make sure you are clear, and express what your key customers want.

It’s all about what your customers want! Always come from your heart. If you start your business looking to make a profit immediately, you are done for. The best way to make a USP is to base it on your IDEALS.

If you were a client of your business, what would you like? Would it be having more convenience, less problems, and less confusion?

What would the ideal item be for this industry’s problems?

You have to separate yourself from the pack. A good question to ask yourself is, “Wouldn’t it be great if ______?”

Take responsibility for your own mistakes. Making excuses is uncalled for, and will get your business and yourself nowhere.

Referral Marketing – This is essential, and you’ll need a formal referral system in place. Word of mouth is the most creditable form of marketing.

Design a starting point for a referral system. “Cinepoints” is a good example. A strategy like, “Refer 10 productions to Cinecore, and get 10% off of your next production. Or donate to their favorite charity.”

Joint Venture E-Mail – Helps your creditability and you can reach other contacts

A 20% fee is standard for sharing your database.

Finding other businesses with your similar customer profile is a great way to start. Comparing and contrasting your two businesses can do a company some good. The best databases are the ones with similar customer profile. Look at people who have bought similar products, in a similar way, at a similar cost. For example, something called Cast and Crew; you can plan a cross marketing system. This would is an example of a joint venture system.

Be sure to keep in mind that headaches are always in the front end, and the money is in the backend.

Once your customer knows your product and they have bought it from you before, they are likely to buy from you again. The key is, you have to do something right for them to like your business and to come back.

My first asset is my customer database.
Here are a few things you should do with your customer database:
• Quarterly email updates or annually
• Go back to your existing customers and offer them new products

FE BE

Front End Back End

Your “Front End” offer must be irresistible for it to be effective.

At your front end, you could offer a 1-2 day free trial, and then hook them. It shows them the value, and it will build trust and loyalty.

This is a low risk offer to them of both time and money. Then you can start increasing the amounts of both.

Info = Free

$300

20k

50k

Cinecore Example

Free Software

$1.99 Mobile Apps
Indie Films Low Features Mid TV
Mid TV / High Features

Mega Features

Outsourcing
Daven Michaels, 123 Employee

A key to starting a business is not to work with people who don’t have money.

Outsourcing is your freedom; use it!

The Five Keys to Wealth and Freedom
1) Have a revenue-generating product
2) Know what tasks to do
3) Strategically choose what’s outsourced
4) Financial freedom

Toplinked.com Try using the website TopLinked.com. It allows you to increase your connections on LinkedIn by the thousands.

Success: A Panel of Speakers
Keith Cunningham, Craig Duswalth, Mauri Smith, Alex Mandossian & Bill Walsh

What are your main reasons for success?
• Surround yourself with people who can help guide you. Also, with those who expect more of you than you do.
• Passion. Do what you love and have fun with it.
• “Because I am supposed to be.”
• Take action.
• Prequalify prospects.
• Be persistent. You own the present.
• Serve others. Are you doing an amazing job serving lots of people?

What was your biggest disaster and how could one avoid the same?
• Watch out for self-sabotage (repeating patterns).
• “I was an overnight success 7 years in the making.”
• Go to your competitors and study what they are doing. Model them and their techniques.
• Your own market is the marketing genius.
• You are only as good as the people around you are.
• “This too shall pass.”
• The problem with success is that it lulls smart people into thinking they know that they are doing.
• When you get greedy, you start ignoring risk.
• “A mistake is not a sin unless it’s admitted.”
• My net worth is not the same as my self worth.
• Ask yourself: How am I going to play the game, NOT how am I going to win.
• You cannot invest enough in yourself.
• Sloppy success is better than perfect mediocrity.
• Be a specialist, be great at one thing, own it!
• Be an apprentice to be a learner under a master.
• You must be learnable, don’t be right.
• Go above and beyond. You must amaze, excel, give more then expected, show up, and continue the education.
What would you change?
• Don’t ask yourself the question, “What do I need to do to succeed?”
• Instead, you must ask yourself, “Who do I need to be to succeed?”
• “Which community do I need to belong to to succeed?”
• Design point A rather than worrying about point B.
• Know thy self.
• EGO = Edge Got Out.
• Get out of your own way.
• Always be a great student.
• Serve a higher group with us.
• The higher you get, you’ll need people in your life to tell you when you are screwing up.
• “I wish I didn’t listen to the people that said I couldn’t do things.”
• Don’t run and tell friends and family your ideas right away. They will try and protect you.
• It is our light that most frightens us, not the dark. You were born to be wonderful.

How do you ensure continued success?
• Go global. For example, BRIC (Brazil, Russia, India, China).
• The biggest businesses today are all communities.
• There will be more millionaires in the next 10 years than the last decade.
• Kill the negative TV.
• Change is the only constant in business. “This is the new normal.”
• Adaptability.
• Keep reminding yourself to adapt and be flexible, change yourself to be congruent with the environment.
• Improve the quality of your choices and you will improve the quality of your life.
• Do one thing and just stay focused.
• Stay on one course.
• Study under and observe other masters.
“Shift from opportunity seeker, to strategic entrepreneur.”
• Not everything is urgent.
• Reach momentum through education and be true to yourself. Don’t chase after opportunities.

What is the most important thing for you?
• Make a significant difference on the planet.
• Don’t cheat the world by not believing in yourself.

You are capable of far more than you think you are!