Asking the correct questions in the proper order is the first crucial step in developing a solid marketing strategy. Due to the constant assault of advertising reps, most business owners think that the how of marketing is the most crucial factor. Should I utilize the television, radio, newspaper, internet, fliers, direct mail, etc.? If so, which newspaper, flier, baseball team, nonprofit organization, new business cards, and so forth? Even though they are valid inquiries, they are not the most important ones. One of the last questions to be addressed is, “How will I do it?”
“WHO” is the first and most crucial question. Who is your ideal client? Whom do you hope to draw to your company? You must gain as much knowledge as you can about your prospective client. What is their age? Male or female? Do they read anything? Other than your business, where else do they shop? Who lives there? What do they enjoy doing? Where do they go to eat? What kind of hobbies do they have? What are their social and family obligations? Who do they hang out with? What are the most pressing demands and annoyances in their lives? What do they like to do? They vacation where? What qualities do they seek in a firm or establishment that offers your services? Why do people prefer to work with you?
Finding your ideal client and learning about them as much as possible is the first step in developing a successful marketing strategy. Finding out WHO your top customer is right now is one of the best methods to respond to the “who” inquiry. Make a list of your top clients and invite them out for lunch or dinner so you can conduct interviews with them. Inform them that you value their business and are seeking other folks that are similar to them. You can also ask for recommendations while having fun with them, listening to them, thanking them, and celebrating with them. WHO do they know who might be eager to work with you on a project? Your most loyal clients like recommending you. They desire for their friends and coworkers to experience the advantages of your company as they have.
So start acting now! Make a list of your top clients, pick up the phone, and schedule some thank-you calls. Make a list of questions in advance and make thorough notes. You’ll be prepared to go on to the following phase once you’ve listed the traits that define your best client.
You should have a list of numerous ideal consumer profiles by now. Great consumers vary widely in terms of personality and preferences. So now that we have that clarified let’s move on to the next important question: “WHERE would you find these ideal customers, especially in groups?” Let’s imagine, for illustration purposes, that a working mother with young children is one of your ideal clients. Where are the young mothers who work? The best place to start would be a toddler daycare. What about bookshops that concentrate on children’s books and games? Sports events are another place to locate groups of young parents if you have older kids.
If you’re thinking along with me, you should begin to see how vital this knowledge will be in developing a successful marketing strategy. To make your customer and the other company successful, consider how you might collaborate with them. You will be prepared for Step 3 if you have precisely defined your target clients (Step 1) and know where to reach them (Step 2).
Here is your assignment to be ready for Step 3. Make a list of your potential clients, and describe each category in depth, mentioning any places you might encounter them in groups. Some instances: Grandparents who purchase at baby clothing stores; owners of small businesses who might be members of the Chamber of Commerce, Rotary Club, or other organizations; high-class men who might be members of a particular country club or perhaps non-profit boards. The better is to be more specific. You will be in a terrific position to develop a very successful marketing strategy after you thoroughly understand who your ideal clients are and where to locate them.
What is your offer, I ask you next? What precisely can you provide your ideal consumer to capture their interest, pique their excitement, and inspire them to act? This will be seen as apparent by many. It must be whatever my offering is in the way of a product or service, am I right? That is, without a doubt, your final offer. However, you need to put in a little more thought and creativity if you want a successful marketing plan. Respond to this query. What are the UNIQUE advantages and features that you alone can provide? Focus on the benefits rather than the features.
An attribute is a description or stipulation of your commodity or service. The value that your consumer receives from the feature is known as the benefit. Here is one instance. I’m employed by a cell phone provider that offers mobile phone service. The same brand of phone and service is sold by numerous businesses and retailers in our area! What, then, is my customer’s UNMATCHED feature and advantage? The benefit is that he has worked in the cell phone industry for over ten years.
I don’t think that FEATURE is all that exciting. The advantage is that you are doing business with someone who has been around before and will probably be around in the future until you take the BENEFIT into account. This group of people becomes your friends, which means you have a dependable buddy who can guide you through the changes and suggest what suits you in the rapidly evolving world of cell phone upgrades and technology. His staff will advise you on what you need depending on your wants because they prefer long-term clients over a hasty sale or profit for the following ten years. Do you see what I mean?
He provides a referral scheme as well. (free month of service if you refer a new customer; the new customer gets free accessories). His company offers excellent personal service with a consistent clientele in a dynamic environment and benefits and bonuses when I refer new clients. This compelling offer has shown to be effective. What unique advantages and characteristics do you provide that will entice and draw your ideal clientele? I advise listing at least ten things to evaluate and test.
If you’ve been following along as we’ve created your successful marketing strategy, at this stage, you’ve identified your ideal target market and know where to find them, especially in groups. Additionally, you have come up with a list of incentives that will grab their interest, thrill them, and inspire them to take action to learn more from you. The final query is, “How are you going to make this offer known to your ideal target?” There are numerous options, including print ads, television, and direct mail. In addition, think of sign dancing, telemarketing, closed-door sales, and strategic alliance techniques! Consider radio. So how do you choose the most effective means of communicating your offer?
For a small business owner with a tight marketing budget, I think you need to explain your offer in a way that allows you to test and gauge the response. Where you can find most of your target clients should be the primary factor in the means you choose. Additionally, you need to conduct a break-even analysis and determine whether there is a likelihood that sales will rise by enough to cover the cost of the campaign at least.
For instance, I worked with a client who ran a restaurant serving specialty gourmet pizza. The problem was that it was a little off the beaten route despite being close to a busy road. Until we performed the break-even analysis, a billboard near the highway exit looked to be the obvious decision. The billboard costs roughly $6,000 annually, including setup expenses ($500 monthly). How many pizzas would you have to sell for the $500? I asked my client. She would need to sell 250 more pizzas a month (or 3000 more in a year) simply because of the billboard, every month of the year, at an average gross profit of around $2 per pizza, to break even. After considerable thought, this seemed incredibly unlikely. Instead, they decided to implement a referral and loyalty program, which was highly successful. Those two programs made it simpler to evaluate results.
Many highly effective marketing tactics don’t use paid advertising. According to my coaching experience, using strategic connections with other companies to increase recommendations and systematized word of mouth is frequently the most efficient way to attract new clients. Furthermore, compelling offers provided to current clients and suggestions from them continually outperform traditional media advertising. This quick summary should have been valuable and practical for you. There is much more to learn about marketing, but this should help you start with a solid plan and clear some typical traps.