Revisiting Strategic Marketing Planning

We kick things off by revisiting the concept of having a strategic marketing plan before executing tactics. Tim explains that most businesses get the sequencing wrong - you need to define your target market and ideal clients first, then identify where they are and what messaging will resonate with them. This "fuel" informs the marketing "vehicles" or tactics you'll use. Tim outlines his three power questions to identify ideal clients: who do you love working with, who are your most profitable clients (based on gross profit, not just revenue), and which clients are you getting the best results for? Clients that check all three boxes are your sweet spot to target.

Defining Your Target Market

From there, Tim walks through a process for defining your target market:

Analyze the demographics of your ideal clients - industries, roles/titles, company sizes, etc.
Dig into the psychographics - their pain points, goals, aspirations, and the results they want.
Evaluate if the market is viable by looking at size, buying power, accessibility, and growth potential.

As you go through this exercise, smaller sub-groups or niches will emerge that you can focus your marketing efforts on more effectively.

Researching Where Your Ideal Clients Congregate

The final piece is understanding where your ideal clients get information and spend time online/offline. Tim recommends using AI tools like Perplexity to research things like:

Influencers they follow
YouTube channels they watch
Podcasts they listen to
Social media groups they're in
Forums and online communities
Email lists they subscribe to
Associations, trade shows, and events they attend

This creates a roadmap of all the places you can get in front of your target audience through marketing activities and strategic partnerships.

Key Takeaways:

Define your ideal clients before executing marketing tactics
Ask: Who do you love working with, who's most profitable, and who get the best results for?
Analyze demographics, psychographics, and market viability to identify your target
Use AI to research where your ideal clients congregate online and offline
Focus your marketing efforts on the channels/platforms your target audience uses

Links from the show:

Rialto Marketing website: https://www.rialtomarketing.com/

AI-powered conversational search engine: https://www.perplexity.ai/

81-Year-Old California Man was a slingshot terrorist for 10 years: https://tinyurl.com/yc2yj249

Florida Woman jumps from Naples pier after sex to escape police: https://tinyurl.com/bdzazusw

Florida Mom Offers man sex with her 10-year-old daughter for $5: https://tinyurl.com/2ambnhsw

Florida Man Goes Viral on Wheel of Fortune: https://tinyurl.com/yrucnve6

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Coffee Break Session #41: Payment Messaging vs Payment Movements