The Five Most Important Letters In Marketing

Let’s talk about a vital business lesson I learnt a long time ago.

A lesson often missing in conversations I have with business owners and aspiring entrepreneurs today.

I regularly get asked questions like:

“I’ve got this idea for a business. I need money for it. I need investors. I need sponsors. How do I get that?”

These questions highlight a huge error in perspective that I see far too often, both in business and in life.

Flashback to my university days when I was at a seminar in Manchester.

A speaker took to the stage and declared that the five most important letters in marketing are W I I F M. He likened them to a radio station, urging us to tune in to this crucial frequency.

So, what does W I I F M stand for? 

“What’s In It For Me?”

Everyone you interact with, whether they’re reading your ad, taking your call, or meeting you in person, is tuned into this station.

They’re all wondering: “What’s in it for me?”

This idea is self-evident.

If you approach someone saying: “I want to do this. How do I get this? I need money. Can ANYONE give me money?” - then you’re operating from a “me-centred” perspective.

Internalising WIIFM is the first step towards ascending to a higher plane of existence.

Well, in a marketing and sales sense at the very least…

The Law Of Reciprocity Is Real

Whenever you find yourself beginning a question with:

• “I want” 

• “I need” 

• “How do I get?” 

Pause and rethink your approach.

You Reap What You Sow…

Remember the age-old wisdom:

“As you sow, so shall you reap.” 

This principle tells us that before we get something - we must first give.

You need to plant some seeds before you can harvest the fruit.

The law of reciprocity is real.

When you do something beneficial for others, they feel a natural inclination to return the favour. 

Most people will want to reciprocate your goodwill.

Unless they’re Patrick Bateman…. then they probably won't...

Applying WIIFM In Business

In any business scenario, whether pitching an idea, crafting an ad, or making a request, always remember that your audience is tuned into WIIFM. 

They’re always thinking: “What’s in it for me?”

So if you’re pitching a business idea and seeking an investment, the correct approach isn’t to focus on what you need. 

Instead explain why supporting your idea is beneficial to them. 

• Why is it a good investment? 

• Why should they care? 

If you can’t answer this - you have more thinking to do.

People work hard for their time and money, and they expect a return for it. So it’s essential to address this from the get-go.

Crafting Your Message

Whenever you’re about to ask for something – be it money, support, or time – start by acknowledging that the other person will be thinking:

“What’s in it for me?” 

Provide a compelling reason why they should be interested in your proposal.

Answer this question convincingly, and you’ll find a much higher rate of agreement to your requests.

WIIFM – these five letters can transform your marketing and business interactions, making them way more effective and mutually beneficial.

If you’re ready to shift your perspective and approach your marketing with a WIIFM mindset, contact us here for a free marketing analysis and let’s see what we can do for you.

Talk soon,

Pritesh Chauhan

pkcmarketing.co.uk