Can you answer this question? Your customers can.

At a casual business gathering this week, I overheard the CEO of a Fortune 1000 company being asked what his company did. He appeared to intentionally bite a cracker just at that moment, to buy time and think about his response. “Well, it’s complicated,” he finally replied.

This smart, educated Chief Executive Officer was elbow deep in company operations yet hadn’t an (uncomplicated) response to that 'simple' question - not because he was oblivious, of course, but because he had spent the last several years buried in finance, production runs, board meetings and other demands. Demands that took him farther and farther away from his customer, farther and farther from a good response. So when he was asked “What does your company do?”, he could only respond to the question by explaining details about the company’s software.

The ability to describe your product is a start, but it’s an answer to an altogether different question, that is, “How do you do it?”.

Perhaps counter-intuitively, the question “What do you do?”, whether asked about you or your company, isn’t actually about what you do, it’s about the value you offer. “What does your company do?” is a question that summarizes several others, such as, “Who do you sell to?” “Why do customers buy from you?” and “What’s next?"

“What do you do? …to provide value to your customers?” It's not a question that only the CEO needs to know. Everyone in the company from the receptionist to the CEO should be able to articulate the company's value, because it should be the motivating factor for going to work every day. If you’ve spent the last several years being pulled farther and farther away from your customers, it is possible that you yourself may find this question harder and harder to answer.

But your customers know. It might be time to ask them.

Build a marketing plan using old school journalistic style

There are as many ways to write a marketing plan as there are marketers in the business. Ultimately, each has to answer six fundamental journalistic questions, that is, akin to the 5 Ws (and one H) taught in any undergrad journalism school:  WHO am I selling to? WHAT am I selling? WHERE will I sell it? WHEN will I sell it? WHY will they buy it? HOW will I reach my customer?

WHO you are selling to is your demographic and psychographic, who they are and what makes them tick. “Everyone” isn’t helpful. Even products that have nearly 100% saturation identify their customers and those customers’ unique reasons for buying.

WHAT you are selling is less obvious than simply naming the product. It encompasses the reason the product was created, the problem it was meant to solve.

WHERE you sell it is key to reaching the correct demographic, above. You can’t reach the middle class at Tiffany’s, you can’t reach the super-rich at Target. And you can’t reach anyone if the display and packaging fails to engage the shopper.

WHEN you sell a product is more than seasonality, it can also, and more often does, involve identifying the ‘compelling event’ that triggers a desire for the product. Experience, such as a burglary that precipitates a security system sale; information,  such as a health alert on the news the encourages a purchase of a supplement are important to understand.

WHY will customers buy it? What alternative do they have? What are the competitive, ‘substitution’ products? What do people do without your product? What benefit does only your product offer? This is oversimplifying a critical part of the plan, so take some time to really study current and desired consumer behavior.

HOW will you reach them? This is the last part of the puzzle – the tactics. The ads, the media, social outlets, PR, events. The marketing mix that makes customers aware of and interested in your product or service.

The format and style of the marketing plan is not important. As long as it addresses and honestly answers these critical questions, it will improve your chances for success exponentially.