November’s One-A-Day Q&A – Question #21

21 11 2016

Q:  If financial resources are limited, and a ‘hands on’ approach is preferred, what are the best steps to take to create a marketing, branding and a business plan to move forward?  It is overwhelming when researching local resources, and I don’t know who to contact first, or what would be the best use of my money.
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A: You articulated this question very well.  It is something that can be very overwhelming to people because there are so many resources out there and because it’s also hard to know what to do first.  I know you mentioned you want a ‘hands on’ approach, which I assume means you want to work directly with someone.  But keep in mind that through Skype, Google Hangouts and other common technology, these days you can meet in person over the Internet.  And this may be the best way to connect with an expert, since they may not live in your local area. So please, don’t just consider local trainers, coaches and marketing consultants—broaden your reach so that you can see who is the best fit in terms of information, knowledge, connections, personality and, of course, financially.

The key is that you want to decide if you are really looking at doing something locally, regionally or nationally. And by ‘doing something’ I mean MARKETING.  You need to create a business plan; but a business or a marketing plan doesn’t have to be a fifty page thesis.  It can be a three page outline of exactly what you need to do get you from point ‘A’ to ‘D’ – or from ‘A’ to ‘G’ or maybe even to ‘J’.   But you don’t have to get to ‘Z’ all in one swoop.  You have to be realistic about time and money; how long it takes to do things right and how much money it will take.

Here are some questions to ask yourself, which should help in developing your plan (outline):

  1. Are you trying to license?  Licensing is not often regional, although it can be; but it doesn’t take any more effort to license nationally than it does regionally.
  2. Who is your audience?  Create collections that will attract that audience. If you really know your audience and something that appeals to a real segment of the marketplace, manufacturers will take notice.
  3. Do I need a website and/or blog? You need to at least create a B2B website to promote your licensing business to agents and/or manufacturers. If you also want to develop a B2C website, it is helpful to create an audience for your art that can entice manufacturers.
  4. Do I have a lead list?  If not, develop one. Read my blog on Eight Ways to Develop your Licensing Lead List 
  5. Do I have a sales pitch?  Create a professional presentation which includes a sales letter and some collections from your portfolio out to those manufactures, then follow up with phone calls and emails. Your plan should include how often and when you plan to do this. Don’t forget to connect with the manufacturers at least quarterly. Statistics say you need to connect with someone approximately six to eight times before they buy.
  6. Do I need a plan to budget my time and costs on all of these points? Yes, create the plan. I will be teaching a class next month that can help you develop your marketing plan for the New Year. Stay tuned.

 

 

 

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