The Formula For Marketing Is… There Is NO Formula

marketing artwork with man writing in background

I’ve talked with a few beginning and even some veteran entrepreneurs who threw themselves into their businesses recently, got off to a great start, and achieved some initial success. However, the strategies that were working when they started are now starting to fall off.

Business is an ongoing process. It’s not a one-time idea. “Hey, this works. I’m going to do this forever.” No my friends, that’s not how it works.

I’m what many people call a marketing expert. Maybe I am, maybe I’m not. Who cares what they call it? I’ve done fairly well marketing myself and anything that I’ve touched, so people feel that I understand marketing a little bit.

One thing I do understand is that it’s an ever-changing formula. If you think you’re going into something with the formula forever, you’re crazy. No formula works forever. You always have to keep adjusting, testing and changing. People get tired of the same thing.

Here’s the thing that happens to many start-ups: they’ve creamed the top of their market. When you start a certain type of business in a certain niche, there’s a group of people who have that problem and are waiting for you to come solve it.

You may have taken those people who were just waiting for you, and they’ve done what you’ve got. Now there’s a secondary group of people that aren’t waiting, and you actually have to market and sell to them. That’s a whole different world.

Take the seminar business, for example. The first time we go to Singapore with the Millionaire Mind Intensive, they say, “T. Harv Eker’s coming to town. Wow! He’s a big author, number one on The New York Times bestseller list and number one on the Singapore list. I’ve got to go see this guy.” All the business and finance people say, “Wow! Let’s go see Harv,” and 5,000 people show up.

The next time I come to town, 4,000 people show up. The next time after that, 3,000. It’s harder. I think our last event had 2,500 people, and it took six months to fill. Why is that? Because we’re not doing as good? No. Is our marketing not as good? No, it’s not that.

The people who were the cream of the crop in the market waiting for me have already taken the course. The next group has to be more convinced. That’s how it goes. How do you do that? You have to find people in different nooks and crannies in different niches.

Another thing that happens with a new business is your own energy is different. You go in and think, “I’ve got to make this work.” You’re putting in 18 hours a day, and your energy is high. It’s like you’re running in a marathon, but you sprinted the first mile, and now you’re panting.

You still think you’re putting out as much effort, but it isn’t resulting in as much. You’re running just as hard but not going as fast because you’re tired. You don’t have the energy you had.

Either way, marketing in business is a flowing situation. You always have to be innovating, changing, revising and testing new marketing and sale methods and new products. If you’re not flowing and growing with your market, and getting better at what you do, you’re dying.

You have to get some new strategies in there. Whatever they are, they must include these basic principles:

1) Who is your target market?
2) What is your message – Is it clear and unique?
3) What’s your medium – How do you reach these people? Are you reaching the right people in an effective way?
4) What’s your backend system? Once you have the people in the door, how do you continue to make money with them and support them?

Write down MMMB: Market, Message, Medium and Backend.

If you’re not using those principles, you’re a wonderful person and I love you very much, but you suck at marketing and business, and I want you to be successful and happy and financially free.

Even if you’re just reading this and not thinking seriously about starting a business, imagine you had a specific problem that you could solve for a specific group of people. What would it be? What’s your MMMB?

Do this creative exercise just to challenge yourself and tell us what you think! You might find great ideas inside that you didn’t know were there if you take time to focus.

Also, yesterday I taught my newest signature Class: Zero To MultiMillionaire. You can watch the replay for up to 72 hours! Enjoy!

For Your Freedom,
harvsignature