So you’ve decided to put together a marketing plan to market your latest product, promotion, or your business in general.
Like most people, you’re excited about sharing your idea with the world, but you aren’t too sure how to proceed. Well, look no further, because you’ve come to the right place.
To write your plan you’ll need to consider three things known as the 3Ms, which are Market, Message, and Media. They will serve as your guidelines for your next marketing strategy.
The market refers to your target market. Simply, the people whose ears will perk up at the sound of the product you’re wanting to sell.
“You need to consider whether your target market actually WANTS it, and if they do want it, what makes you think they’ll buy it from you?”
— Oliver Billson
This is one of the most overlooked factors when considering selling something new. The biggest mistake you can make is to assume that what you’re trying to sell is for everybody. Unfortunately, that’s just not true.
Every new product, especially tech-based, goes through an adoption life cycle.
Understanding your target market means testing its possible life cycle. And by focusing on those who will be most likely to adopt your new idea early is crucial. So how does one prepare for a long and healthy product life cycle?
This is where the research truly matters. People today act and purchase based on their values.
They might love trying the newest restaurant in town (food bloggers). They might love to experience the newest and craziest rollercoasters (thrill seekers). Or they might love lining up for hours to purchase the latest wireless headphones (tech lovers). Whatever the case, their values are what drives their purchasing habits.
You need to market to those that are willing to be those early adopters. Those who are willing to test your product, service, or experience and share it with friends and family.
If done incorrectly, you will most certainly hurt your success. Which brings us to messaging…
The message refers to the way in which you communicate your new product.
Let’s imagine a scenario where your new product is a new innovative La-Z-Boy-like chair. Its innovative feature is the ability to alleviate back pain instantly. And after much research, you’ve found your target market is males in their 40s who work blue-collar jobs.
With the info above, which of these statements do you think would better speak to our target audience?
Depending on who you are, you might have chosen either statement. But considering the target audience, it makes more sense to choose the second option. The first statement was constructed around the use of emojis, which speaks to younger generations.
The second statement is simple and to the point. Our target audience relates more to the idea of having that chair at home, along with the comfortability that it would bring to their lifestyle.
So how and where will you deliver your chosen message?
People collect and consume their information differently. It’s easy to assume that most use the web to gather their latest info, but that’s unnecessarily true.
“TV continues to be the most widely used news platform; 57% of U.S. adults often get TV-based news”
— Pew Research Center
Many people watch cable TV. Others still hold monthly magazine subscriptions. And some might prefer snail mail.
And when it comes to the internet, a world that seems larger than life itself, there are so many avenues. There’s social media marketing, email newsletters, website ads, and more.
So to reach your target, start by researching where they get their info, and then you can decide on the medium. You might even have to consider a combination of different avenues above.
Lastly, remember that different mediums call for a different styling of content. What you might share in a television commercial might not work in an online ad. The timing, positioning, formatting all need to be thought through.
The 3Ms are all very important when building your marketing plan. Nothing is guaranteed, but if you follow through on each M thoroughly, you’ve taken the right steps towards a successful new product or campaign.
What do you think about using the 3Ms to write your marketing plan? Have you used this strategy recently? Share your thoughts in the comments below.
Market Message Media: Your Marketing Foundations, by Oliver Billson
The Tech Adoption Life Cycle, by Boundless
The Modern News Consumer, by Pew Research Center