Are your marketing efforts providing you with lots of quality sales opportunities or are you spending money attracting the wrong people? While the number of leads created through marketing is important, the quality of your lead generation is the key to sales conversion and better results!
Effective Marketing Can Pre-Sell You
When done well, marketing makes sales easier, less expensive and more enjoyable. Think about the last few times you got a call from a prospect who was referred from a customer or power partner. Was it an easier conversation and did it turn into a quote or sale? For most businesses, the answer is yes because the prospect was pre-sold. He / she already understood the benefits and value you provide before they spoke with you.
Imagine your marketing doing the same thing – pre-selling people so they raise their hand and say tell me more. So how do you create effective, affordable ways to pull people in? Go back to the basics.
Often when I talk with business owners about marketing, they jump right into a discussion on what they are doing, the tactics, such as direct mail, print, networking, social media, etc. Some of which works, much of it does not. More often than not, they place the blame on the medium, ‘I tried direct mail, it doesn’t work’.
The problem here is that it ignores two of the three elements in any successful marketing. If you want marketing to pull prospects to you (so you can stop chasing them), then you must create synergy. Without it, your marketing is destined to fail.
3 Magical Elements for Great Marketing
Your Market. Who are your ideal targets for the products or services you offer? Yes, you may have a few different groups (or niches) – but ultimately not the universe. You can’t solve problems and provide solutions for everyone. Who are the people you can best serve with your products and services? Think smaller to grow bigger!
Your Message. Once you know who you are talking to (target market), your ability to create a message that is compelling is far greater. Your message is what communicates what you offer, the problems you solve, the hopes you fulfill and the reasons people should care – what’s in it for me, the customer. You may have a great message but if it doesn’t resonate with YOUR target market, your marketing will fail.
Your Medium (Method). This refers to the vehicles or tactics you plan to use to deliver your message to your target market. The methods you choose, and there should be more than one, will depend on your target and what your message contains.
So what is the biggest challenge for small businesses? For many, it’s clearly defining their targets. It’s a fear that serving smaller, niche markets would eliminate sales opportunities. Ironically, the opposite is true.
A niche allows you to build a reputation as an expert in your field so prospects view you or your company as someone who really understands THEM. Experts easily attract new customers who pay more and gladly tell others. In marketing, it is better to be a big fish in a small niche market than a small fish to the masses.
Here’s a simple approach to get clarity around YOUR targets and create small niches:
Start with a list of customers for your current products or services. Focus on the top 15-20 ideal customers and write them down. Jot down what you know about them – including demographics such as industry type, business revenue, the number of employees, net worth, and household income.
Next, add some other ‘characteristics’ – Consider how they work with you, what is important to them, what do they purchase (one or more services), how do they pay, what values are important to them? Just put down what comes to mind.
Next, find out what problems they are having, difficulties they face, what they really want. The key – do not assume – ask.
Next, look for common characteristics, data, and problems and create ‘sub-groups’. If you are like many of my clients, you will start to see some patterns evolve. You may end up with 3-4 different clusters; that’s OK as long as they are clearly defined.
Finally, take a look at each sub-group and articulate who they are. Think about how you would describe them to others – your team, referral partners or even your children – and be specific.
Once you have clarity on your ideal targets, creating compelling messages and identifying the best method to reach them is so much easier. Give it a shot. You’ll be amazed at what you learn and how it helps you attract the customers you really want.
Ready to Put Your Business on the Path to Success?
Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.
To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com
