I met with one of my clients this week to talk about his new business, which he is in the process of launching. We spent a few hours defining his “offering” after we discussed his target market.
It’s clear you need a simple, easy to understand message when meeting with your prospects, preparing your marketing materials, and gaining referrals from your colleagues and friends. Therefore, we built a document outlining “packages” of services he wants to offer his customers. A list of bullets describing each feature for each package is included. Subsequently, we listed all of the “benefits” his customers would gain from the services within each package.
The “features” require an action item on his part – for each action item there’s a cost (either time or money, or both). We estimated the cost for each feature and then built a financial model for each package.
The “benefits” are being used to create his marketing materials – benefits sell, the features don’t.
This process helps new business owners stay focused on what they’ll sell. Too many new businesses chase their tails until the money’s all gone. Clearly defining “packages” to offer helps you create an operational plan, marketing plan, and budget. Also, if you follow this simple process, your marketing materials will align well with your intended products or services.
Simple, but powerful exercise.
A few minutes ago, I ran across this article on Sales & Marketing. Great idea from Entrepreneur.com, “Create a Catalog” for your business, no matter what the business. My client can easily build a catalog from his list of “packages” he’ll be offering.
Note to my clients: If you would like us to help you create a catalog for your business, give us a call and we’ll work up a proposal for you. We work with graphic designers, web developers, writers, and others that will save you time and money. No need for you to track down these services “a la carte” (we know where to get the best pricing for the services you’ll need. – Greg)