Business & Finance Advertising & sales & Marketing

The Marketing Power of Who

In other articles I've talked about the power of having a higher purpose for your business, of knowing exactly why you're in the business you're in.
When you know you're in the business of helping people solve a particular kind of problem you're way ahead of many business owners with your thinking.
You have clarity! Another important question to answer is - who are these people you're helping? Most business owners make the mistake of trying to be everything to everyone, thinking mistakenly that by doing so they're increasing their chances for sales.
But when you're everything to everyone you have no way to differentiate yourself from other businesses and you fall into the bottomless pit of selling on price.
That's why 85% of small businesses don't last 5 years.
To increase sales you need to pick a target market niche, resonate with that market, create an emotional connection, and make your customers feel understood.
This means you need to know your market and know who your ideal client is in detail.
Ask yourself what kind of person is likely to be attracted to what you do.
What kind of person can you help the most? Who is likely to have the kind of problem you solve and be receptive to your solution? Some of the things you may want to know about these people are their age, gender, income, education, interests, values and family.
Where do they hang out? What do they read? What are their hobbies? Now, not all of these factors will be equally important for every business, but the more you know about your ideal client's niche the more targeted and effective your marketing message will be.
Here's an example.
It's been said that Volvo's chosen ideal client is a 35 year old, college educated, environmentally conscious mother of 2 small children, who has above average household income.
All their advertising is aimed at her.
She appears in all the commercials and they emphasize her concerns - safety, family, comfort, beauty, environment.
You don't see race courses, wheels spinning or mud flying in Volvo ads, you see an upscale mom, often with kids.
They know their niche.
So how do you find out about your ideal client? Two ways that I know - pay attention, and ask questions.
Start to pay attention to the people who do business with you, especially your repeat customers.
Keep notes and find the similarities between them.
Ask yourself what you like about your favorite customers.
If all your customers could be a certain way, what way would that be? After all, you'd want your ideal client to be someone you'd like to be working with, wouldn't you? Ask your customers questions.
How did they find you? What do they like about doing business with you? Why did they pick you instead of somebody else? When you can, chat with them about non-business subjects to find out interests, values and family.
From all of this research you should be able to develop an ideal client profile like Volvo did.
Once you have your client profile, then you can sit down and look at your business products and services and decide how to tailor them more effectively to your target market.
Anything that doesn't support serving that niche is a distraction that can and should be eliminated.
Review all your marketing material and see if it effectively communicates your new client-centric message.
Place your marketing where your target market will see it, and use language that connects with them.
You're going to pick your niche and own it!
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