MLP Questions
Customer segments
Premise 1: A lot of new smaller businesses have a hard time pin pointing their exact targeted demographic?
Premise 2: Business know how says to not waste your time trying to sell something to a market that doesn’t care about what you’re selling.
Question: what are some key ways to pinpointing your exact market?
Customer relationship:
Premise 1: Having a strong relationship is important to having a successful business.
Premise 2: Ivey Business Journal states “That most companies continue to invest in CRM without a roadmap for increasing shareholder value or even for forging closer customer relationships is also not surprising, since there are few best practices in CRM for companies to follow.”
Question: How much has you company invested in customer relationship management, and do you see a return on that investment?
Channels
Premise 1: Social media has grown at a rapid past in the past few years.
Premise 2: Word Stream says “Using social media for marketing can enable small business looking to further their reach to more customers.”
Question: How your business included social media in your marketing strategy?
Value Proposition
Premise 1: Value Proposition is a statement that tell your customer what you’re offering, it can also be considered a short mission statement.
Premise 2: Lean labs Says that Mixrank nailed their unique value proposition due to how simple the statement located on the home page of their site.
Question: how do you think a strong value proposition can impact your business?
Key Activities
Premise 1: Key activities are the day to day operations of your business, and it is very important there is a plan in place each day before the work begins.
Premise 2: Cleverism says “marketing is the most important parts of any business activity. It is what creates customers and generates income, guides the future course of a business and defines whether it will be a success or a failure.”
Question: what do you feel is the most important key activity for your business?
Key Recourse
Premise 1: Key resources are the necessary tools you need to properly provide your service or produce a good.
Premise 2: Empower women says that key recourses include Physical resources, Human resources, Intellectual resources, and Financial resources.
Question: How you properly account for all of your business resources?
Key Partners
Premise 1: Key partners and in some cases be considered competitors.
Premise 2: Marketing mo states that you can accomplish business goals due to key parents.
Question: How do you maintain a relationship with your key partners?
Cost Structure
Premise 1: A great majority of marketing business have a difficult time knowing what to charge for their services.
Premise 2: Smart in Sight says that there is a wide range of ways to price marketing services, depending on your business, time spent, customer, etc.
Question: How did you price your services properly for your business?
Revenue Streams
Premise 1: Marketing is a very broad sector of business, leaving room for multiple revenue streams for this sector of business.
Premise 2: Marketing agency insider says that it is common to have revenue peaks and valleys, which makes it important for marketing business has to have multiple forms of revenue.
Question: How has your company diversified your revenue stems?
Golden Circle Rule
Premise 1: The golden circle rule gives you insight into why your business exist, how does the business go along with its beliefs, and what the company does to fulfill what it beliefs.
Premise 2: Simon Sinek says that what separates the “Apples from everyone else” is why statement of the golden circle rule.
Question: What is the most important part of the golden circle rule to you?