The Lucky Titan

3 Fundamental Marketing Secrets to Stop Wasting Money With Tim Fitzpatrick

December 08, 2020 Josh Tapp
The Lucky Titan
3 Fundamental Marketing Secrets to Stop Wasting Money With Tim Fitzpatrick
Chapters
The Lucky Titan
3 Fundamental Marketing Secrets to Stop Wasting Money With Tim Fitzpatrick
Dec 08, 2020
Josh Tapp

I am an entrepreneur/business owner with expertise in marketing and business growth. I have 20+ years of entrepreneurial experience with a passion for developing and growing businesses. That passion served me well in operating and managing a wholesale distribution company I co-owned for nine years. Our company grew an average of 60% a year before being acquired in 2005.

Since then, I've had failures and successes that have been valuable learning experiences. I started Rialto Marketing in 2013 and have been helping service businesses simplify marketing so they can grow with less stress. Most people overcomplicate marketing. It doesn't have to be that way. 

https://www.rialtomarketing.com/
https://www.facebook.com/rialtomarketing/
https://www.linkedin.com/in/timpfitzpatrick

Show Notes Transcript

I am an entrepreneur/business owner with expertise in marketing and business growth. I have 20+ years of entrepreneurial experience with a passion for developing and growing businesses. That passion served me well in operating and managing a wholesale distribution company I co-owned for nine years. Our company grew an average of 60% a year before being acquired in 2005.

Since then, I've had failures and successes that have been valuable learning experiences. I started Rialto Marketing in 2013 and have been helping service businesses simplify marketing so they can grow with less stress. Most people overcomplicate marketing. It doesn't have to be that way. 

https://www.rialtomarketing.com/
https://www.facebook.com/rialtomarketing/
https://www.linkedin.com/in/timpfitzpatrick

Josh: What is up everybody Josh Tapp here again and welcome back to the Lucky Titan podcast and today we have Tim Fitzpatrick with us on the mic, Tim is the president of Rialto Marketing which is really hard to me to say for some reason, we’re here I am super excited to have him here because Tim really knows stuff about marketing, he’s really here to help us with strategy, with building a plan so that you can leave this episode with actionable steps which is one of the thing I’m really excited about talking about stay because sometimes it doesn’t happen, you know Tim let’s hear from you, give us a little bit of background about you and where you’re from. 

Tim: Absolutely, Thanks for having me Josh; I am super excited to be here 

Josh: Yea no problem

Tim: so cliff no version of me, I grew up in Northern California, Bay Area wonderful place to grow up you know when I got into collage I got involve in hostile distribution company, became a partner in that company, we built that company for about 10 years and grew about 60% a year and then we sold it , it was an amazing experience I learned so much doing that, I always tell people I learned more than 6 months of doing that than in 4 years in collage but (ahm) amazing experience after that I got, after we sold I got on that I got into real estate for a while realized it is not my thing, I didn’t like it great spot for some but not for me, so I shifted gears, I got into marketing and that’s what I am doing today and  Northern California all the way and moved to Denver, Colorado where I in and been here ever since so

Josh: That’s awesome, well and so I wanna kind of highlight point of that story ‘coz, humble brag for you I know you’re not gonna humble brag so I am gonna pride fully brag for you

Tim: Well, thank you

Josh: they built that for some company to 14 million you said?

Tim: yea it is about 14 million a year when we sold it 

Josh: So I mean that’s  a feet for itself so I have to point that out as a cloud point for you this will be fun so you know your stuff about marketing you are one of the big driving factor by helping that company grow  than building your own business as well separate from that rialto marketing, you know that part got me excited is we’re gonna be taking about the 3 fundamental marketing secrets, so stop wasting money which being in a marketing space it is so easy to just get sucks and dumping money into different marketing tools and things like this and praying for results, so let’s delved in to those 3 fundamental pieces. 

Tim: yep so, I call them the marketing strategy trilogy, one is you have to know who are your target market is, okay who you gonna serve,  how you gonna serve those people the second is your messaging so how you communicate what you do to your target market or four year target market and then the value you provide them is so important and then 3rd part of that is you have some type of plan,you know the plan you start with is certainly not the plan and you end with but most people don’t have a plan and they just have passed at least or start trying thing and they don’t work and they wonder why well you know, it was Ben Franklin said if you fail to plan and you are planning to fail so you got have a plan so those are the 3 fundamentals that we focus on that really do hope people from wasting time and wasting money 

Josh: Love that, that’s really funny because there are still fundamental, a lot of people just glazed over right, they thing about, should I know my target customer but you know what’s really funny when you ask people they all always spin off demographic information and so I’d like to hear what your take is on how to actually identify that ideal customer because yea I think we get two sets one of my favorite podcast to listen to is entrepreneurs on fire 

Tim: yea, 

Josh:  John Lee Dumas always says niche down, niched down, until it hurts sometimes that’s gets people but I don’t even know how to niched down further than you know man who are 42 years old..

Tim: yea so I, so here’s what I recommend people do existing business well so you’ve been in business for a while you’ve got customers you’ve been working with I think you need to asses 3 questions, first who do you enjoy working with, we started our business because we want to help people we want to enjoy it right so why do you want to work with people that you do not like working with that’s first, second who are your most profitable  client if you gonna stay in business you gonna money after work with people that are profitable and then third who do you do your best work for if you ask yourself those three questions and the customer’s that fall in to that you can say yes to every single one of those three questions that is the group that you want to start looking at to determine who are your clients are, I think most businesses have 1-3 ideal clients types, and just to your point josh just because you’re gonna own in those 1 to 3 client types it doesn’t mean the only peopleyou’re gonna do business with it’s just means those are the only people you’re gonna target your marketing towards because you can’t target your market to everybody you have to narrow it down and when you narrow it down it becomes so much easier to determine where the hell are these people, how do we get infront of these people when you can’t determine until you know who the hell they are and like you said, people start with demographics a lot which is good you need to have some general demographics I mean look at those math major I can got to the on the weeds on analytics and demographics but I think what is equally important is demographics is the psychographics of your ideal client what are the problems that they have what are the goals to aspirations where they want  get to you know what benefits do they want to see when they work with you those type of things you really need to understand because that is what’s gonna determined what’s your messaging needs to be and if you don’t really know your ideal clients as well it cannot better that they know themselves you’re really gonna  have a hard time in selling people what you do. 

Josh: love that

Tim: so that’s where I would start ask yourself those 3 questions and then look at that group and then within that group you can start to dig a little bit deeper into the demographics and they psychographics and typically what happens is 1 to 3 groups are gonna come to the surface those are your ideal client types. 

Josh: let me ask you this, you know because a lot of people who listen to this are servicing entrepreneurs’ right, they have some service entrepreneurs how would we niched down like you said 1 to 3 niches, would that be when we based that of off, like for example podcasters of course creators, coaches right 

Tim: yes 

Josh: is that good enough for as that not niche enough 

Tim: no I absolutely think that’s niche enough , you’re going from entrepreneurs which is this huge category of people to we work with people that are podcasting or online course creators or coaches, that’s more than enough in my opinion at least because when you say hey I , we worked with coaches, great those could be, doesn’t matter they could be life coaches, they could be business coaches or operational , you know business coaches it doesn’t matter they are all coaches the way you know problem that most have based on your products or service is gonna be pretty similar and then you start, okay great where are these coaches, what groups do they belong to on Facebook or are they in groups in LinkedIn you know or are they associations are they influencers that a lot of coaches follow 

Josh: right. 

Tim: boom! Now I know exactly the different channels or different places I can go to get in front of those coaches, when I say entrepreneurs, well Jesus I mean, they’re all over place 

Josh: right and a lot people considering themselves as entrepreneurs when they are doing side hustles right 

Tim: yea yea right, yes 

Josh: so let me ask you this, I wanna highlight the point to extent the kind of bridge in to the next point as well but I think one of the big pieces in there you just kinda slept I think is just absolute gold is that just that because your narrowing your niches far as how your messaging in marketing people that does mean that’s the only person you sell to right because you are saying market to one sell to many right love that and that’s kind of messaging comes in the play right 

Tim: yes, you can’t create messaging until you know your target market, otherwise you’re just like creating these random words that don’t mean anything to anybody so once you know who your target market is then you can start to look okay how can we create a message that is clear , that’s consistent that engages our target market and you know we use, are you familiar with story brand? 

Josh: Yes, 

Tim: yea so you know I didn’t invent this, the story brand messaging frame work is built on of the hero’s journey which has been around for a long long time I think story brand is just on a very veryjob of popularizing it and making it a bit more mainstream at least in the marketing space but the frame work, I love the framework is one of – when it is initially introduce to me it just make sense you know and when you think about your favorite movie you know especially action movies you know you can start to plug these different characters in this frame work and all you are doing in this frame work is you’re creating a messaging wherein your customer is the hero or the character in this story in your businesses guide – that’s it and you can go back to this framework anytime you need to create marketing message whether it is some any email or social media or ads you are not reinventing the wheel but your message becomes very clear and simple and consistent right, because if people see our message multiple times or are we saying different things it’s not gonna register with them we need to keep it clear because we can confuse people they’re gone,  our attentions expands are like 8 seconds  at this point there’s all kinds especially for me, there are marketers there are kinds of other people to go out there and find so they come and they don’t understand what I am saying, they’re moving on, and it’s no different with anybody else so when you use the framework you can position yourself as the guide which our customer is looking for a hero they are looking somebody who, for somebody who knows how to solve a problem they have  and hope them get form where they are to where they gonna be that’s it. So when I got expose I loved it and we’ve just run with it, makes a tons of sense people get it and it works 

Josh: yea I love that , you know it’s kind of interesting especially you bring up that like the favorite movie or hero movie when it comes to determine it because you are, let’s use Hercules as example right because titans, because we talked I used that a lot of example a lot of time I mean when you are positioning your business, your business shouldn’t be Hercules, your business should be  Phil right, Phil is the little goat man who helps Hercules to become a Titan right, it’s all about being the guy that gets down there right that’s what I love about your story brand messaging there 

Tim: the other thing, that the frame work does is it helps you avoid talking too much about yourself, our customer don’t give a crap about how great we are, they only care about the problem that we can help them solve and make their life better and so when we use the frame work it help you position your message so that it’s more focus on the customer and less about you, you only focus on yourself enough to position yourself as theguide, that’s it. 

Josh: love that; are you familiar with the attractive character? 

Tim: Yes! 

Josh: you’re the guy helps present pretty well,  I think that’s such a crucial concept to know how you are the, how you feel the need of people because for me I am not the flashy – look at my Lamborghini guy right, I’d rather have 2002 Ford F150 I am happy with my truck and it’s you know I am not gonna go there take a picture of my truck, I am so cool, you want my life style right, I love being the guy who’s like I just met this super amazing person the song is really cool thing, bring it back I am not that adventurous who’s like who I’m just gonna try these thing and bring the stuff back what are you and how would you recommend people find that 

Tim: you know the attractive character, as far as I know was popularize by Russel Bronson  from Dot Com’s

Josh: I am a fan tho, 

Tim: I think there’s a balance there because early on to the whole premise by attractive character is talking about yourself and how, what you are like and frankly the problem you initially have, the attractive character talking about the problem that all of your customer have so you’re only talking about yourself is the attractive character up to the point where you solve the problem then you are transitioning yourself to the guide right so as the attractive character you had this specific problem and you are talking about what you did to solve that problem and then you are shifting to the guide and the as the guide you are showing people, how to use how to solve the problem just like you did if that make sense 

Josh: love that

Tim: so, I think there is a point where I think if you talk about yourself too much you are positioning yourself as the hero and that enough what your customer want and I totally I am just like you josh, I am not a super flashy guy and I don’tcare about that honestly I am a little bit turned off when I see that kind of stuff you know it’s like okay that’s great, you are successful but men I don’t know, there are successful people that are not very smart  that I would follow just because they are successful you know I need to know more about specifically what they are doing and the problem that they are solving and how they are doing it. 

 

Josh: right, love that well, and you know links are focusing your messaging is one, I would honestly say probably the hardestthing for me is getting my message to the point where it’s just resonating with that group of people over and over again so what are two tips you have for getting more focus on messaging 

Tim: the best thing to do is to talk to your existing customers and or looking at your online reviews it is so hard for us to create a messaging because we can’t see the force though the trees wherein our business and we don’t have outside eyes 

Josh: right

Tim: but often times if we talk to our customer’s they can articulate the value that we provide so much better than we can ourselves, if you don’t have you know a lot of customers that you can talk to, look at online reviews, people say online reviews – why they love working with you, the problem that you helped them solved, what benefit they saw from that but interviewing customers easy way to do it and you can talk, ask them, how did you, why you did you, initially work with us what problem did you have, how we’d helped you , what you like most about working with us, those type of questions is how you really start to holding on what value do I really offer people on and why would they wanna work with us the best place to start 

Josh: love that, that’s one of the things that I think that people aren’t willing to do, that’s why I think if you can do that separating yourself from your competition, I know for us I’ve always said this I like Joe Rogan for this reason, there’s no person too small to talk with me right, there’s no nobody to talks to me and I love that because like for me I mean that doesn’t mean you can’t take every single person thatreached out to you but I try to always make time especially if they are part of my audience  that I care  like I wanna talk to you, I am happy to sit down with that event if it’s for 10 minutes just so that I can help them and gives me really good opportunity to see what their, what they’re struggling with or maybe just a messaging conversation you know. 

Tim: yea. 

Josh: I love that really good, good work Tim, Timothy so let’s do find the third things, so what is your plan like what’s the big plan for marketing 

Tim: plan, I recommend people to use a 90 day marketing plan like a sprint, spending you knowthousands of dollars on a 1 or 2 or 3 year marketing plan that’s over complicated, too many pages is gonna destroy frankly if you have done at the beginning of this year you’re gonna burned it come march, from most businesses so you are business evolving our marketing need to evolve just as quickly and that’s why I love 90 days sprint, it is not overwhelming for people and it is very manageable, it keeps, It what itdoes to eliminates that distraction and the information overload that a lot of people battle when it comes to marketing so I have 6 things in here, 6 depths. 1, who is your target market at a very least write up, paragraph or summary of your 1 or 3 ideal client types; 2 what’s your marketing goal, you have some type of specific goal you want to accomplish for the next 90 days – for example, I wannabring on five new clients in the next 90 days, 3 you got to know what your budget and what your resources are from a time perspective ‘coz if I have, if it’s  just me and I have 500$ a month and I have 5 hours of time a week that’s gonna help determine what I choose to focus on my marketing plan, if it’s 5000$ a month and 3 people that 20 hours a week I can take on a lot more but you have to know what you have to execute the plan, then you have to outline what you are currently doing so what’s your current marketing plan, a lot of people I realize now have a marketing plan, okay but at least right now just drop down what you are currently doing within your marketing and I look at 8 different marketing channels  we are on a time on here so let me just tell this quick, 1 strategy for fundamentals, do you know your target market, do you have good messaging, then you’ve got your website,  you have content marketing, blogs, podcast, videos SEO’s or search engine optimization, you have social media, you have email marketing you have paid online advertising , so google ads, Facebook ads and then offline marketing, so networking, strategic partners direct mail, those types of things just jot down what’s your doing if anything in each of those channels then what you’re gonna do is outline what’s you’re gonna focus on and next 90 days, if you do not understand  your target market, you don’t have good messaging, you’ve must start there otherwise, you are going to waste money, then what makes a lot sense for people if your  website doesn’t have good messaging it doesn’t have a clear called to action you’re gonna focus on that and then you’re gonna expand somebody’s other channel – but just right down what you’re gonna focus on the next 90 days that way when you get an email – that say’s hey you need to be on tiktocyou like no, it is not on my plan for the next 90 days, this is what I am gonna focus on and then the last part of this plan is what metrics you’re gonna track, the metrics you track are gonnahelp you determine whether the actions you are taking or actually working or not, this is the utmost 1 to 3 page marketing plan in the 6 steps that’s it at the end of 90 days what works, what didn’t, then you can outline the course correction in the next 90 days and you start doing it again, I guarantee you accomplish more than you areright now if you do not have a plan and place. That’s it!

Josh: wow!You just bloom my mind, one of the parts that I really wanna point out  that I love was that your, the 90 day plan it helps eliminate that distraction I mean what people I don’t how to say it, what people and my biggest struggle is  I have major shinny object and I’m gonna start new businesses, it’s always like I wanna try 15 different marketing strategies at the same time but the problem is for me I got stuck at building mode I am like building, building, building and then by the time built  the strategy are kind of not ineffective and you run out of time 

Tim: yea you can only take on so much you know so if youput it down on paper there’s a lotlike who are that you’re gonna take the action and you’re gonna accomplish your goals but it also keeps you focus so that you know again, get that shinny object, yea it’s gonna happen especially with marketing coz they happen every day you can go, you know what, maybe I don’t wanna do that I’m gonna write that down or  I wannakeep in on a list but I don’t need to worry about it right now 

Josh: yea have a google doc or you put your fancy ideas that’s what I do all the time, it’s like 20 pages long 

Tim: yea (laugh) 

Josh: well Tim, those 3 steps I hope, I know really help our audience, I know  they will apply them, those are honestly in my opinion the way to start any business and you just totally clarify that for me, I hope everybody outs really took advantage of that and go back and listen to these take note answer each of those questions for yourselves and you know Tim, you are doing something that I was really excited about, you saidgonna give an offer to our audiences here so tell us what people can do and how to connect with you 

Tim: yea absolutely and thank you, they can pop to our website which is rialtomarketing.com that’s rialtomarketing.com and if you go there and go to forward /the/lucky/titan put together some special resources for your listeners to help them implement some ofthese fundamentals that we talk about they can get also a free consultation there’s a blue button say’s get a free consult, so if you wanna take advantage of that, jump on a zoom call with you learn more what you are doing and help you give some clarity on where to focus on your marketing right now to get the best return.

Josh: love that everybody make sure you go check that out, I mean rarely opportunity to sit down with somebody like Tim and actually get a marketing plan built out for yourself so take advantage of that so you can go over to https://www.rialtomarketing.com/the-lucky-titan/and make sure that you go check that out, and Tim before we sign off if you could give our audience 1 final parting piece of guidance if you could say hey this is the one thing I hope you get out of this, what would it be 

Tim: I would say take the next logical step you need to take to reach your goal, running a business can be so overwhelming, there’s so many different things you mention hey I’ve got 15 things on my list that I wanna do, it is overwhelming if you focus on the next logical steps to get where you wanna go you will eliminate that overwhelming and you know exactly what you need to do right now.