The 5 to 7 Minute Marketing Plan
Instructions
The bulk of the plan needs to be completed in 5 to 7 minutes. All parts of the plan will be in a single sentence except point 4 which will need to be fleshed out at a later date.
Here are the questions! – (remember answer in one sentence only!)
1) The purpose of your marketing.
2) What is the competitive advantage of your business?
3) Who is your target market/audience?
4) What are the marketing strategies that you’ll use? E.g. Radio, newspaper, customer service training, PR, add on sales training, etc.
5) What’s your niche?
6) What’s your identity – who you really are?
7) Your marketing budget as a percentage of your total budget.
Source: Jay Conrad Levinson – Author of ‘The Guerrilla Marketing Revolution’.
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My experience stems from buying and selling franchises. I believe in franchising as a wealth creation tool but be sure you don’t become a victim.
If you want to build an international franchise or are simply looking at acquiring a franchise to increase your wealth – always look if you can tick the following check boxes.
My 7 learnings as a successful franchisee (and in order of merit):
- Buy the top franchise model in the industry i.e. if Pizza franchise – buy top franchise in the country (the criteria being, 3 -5 years of being number one)
- If passionate founders are present – big YES
- Strict code of conduct and high operational standards – is there consistency in customer experience throughout the group?
- Are franchisees considered as customers? Or is the franchisor looking at a franchisee as a glorified employee – don’t be shy – ask the franchisees.
- Are more than the 20% making money (real good money) – otherwise it’s an average franchise – Be very sure you have the capability of being a superstar! Happy customers and profitable franchisees –these are signs indicating the franchisor has his finger on the pulse! Unhappy franchisees and clients is a definite red signal.
- Buy in before the big growth is realized – i.e. see the potential for the group and buy in before everyone wants in. No different from the stock market…
- Is the franchisor operationally focused or customer-centric? If operationally focused – GET OUT!
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