There are essentially two world views.
One where people think stuff just happens. Randomly and by capricious chance. The other is the world operates according to a set of principles and that everything happens for a reason.
Personally, I believe the latter.
Principles are timeless. Especially when it comes to human behaviour.
It’s why stories portrayed in Greek Tragedies like Sophocles’ Ajax and Philoctetes written around 430BC are now being used to help war veterans to overcome PTSD and other trauma.
Or Shakespeare whose plays are considered timeless because we can all relate.
So what does this have to do with growing your business?
All businesses operate on a small set of key principles which you have to master. The most important being the principle that you’re not in the widget delivery business, you’re in the business of marketing widget delivery. Because without marketing and selling, nothing happens.
Today there are hundreds of ways you could market yourself.
Social media. Facebook, LinkedIn, Twitter, Pinterest, Instagram and the latest, Periscope. Then there’re videos, podcasts, blogs, direct mail, email.
Seems like there’s something new every other week. Another bright shiny tactic you can get sucked into.
But these are just platforms. And using them are tactical decisions.
The foundational principle underlying marketing is aligning three components – Market, Message and Media.
- Your Market
Are there enough people who want what you’re selling and are willing to pay your price?
Sounds obvious, doesn’t it. But you’d be amazed at how many people create products which no one wants. Then they wonder why they can’t sell them.
- Your Message
Can you create a compelling message that attracts, interests and creates desire to get prospects to open their wallets?
- The Media
Can you get you marketing offer in front of them? And what will it cost to do so?
Let’s focus on “market”.
When defining your market ask yourself…
Who are they? If it’s an organisation list the industry, size, location. The problems you solve for them.
But organisations don’t buy. People do.
So who are the buyers? Can you describe the typical individual buyer in detail? Roles, authority levels, general personality types. BTW, we’ll cover the importance of personality types in a future article on creating a message which resonates.
Narrow your focus.
Find a large market and then pick a small segment.
Our accountant Shukri Barbara is a CPA. But rather than do general accounting where he competes with thousands of other accountants, he specialises in Property Tax aimed at individual investors who want to “Minimise their tax, maximise their returns while keeping the ATO happy!”
Gill Walker of Opsis specialises in implementing Microsoft Dynamics CRM systems. Specialising attracts a certain type of client demographic while repelling the rest.
Our own speciality is creating marketing and sales systems which attract high value clients for your business. Our extensive expertise is in direct marketing and imparting consultative selling skills. We don’t do brand and image consulting or market consumer products.
The clients we attract are successful professional services practices, manufacturing and construction organisations.
Can you define your market succinctly? Describe them in great detail?
If not I strongly urge you to do so. And if you’d like help as you’re too close to it, give us a call on 0414-913-334 and book in a for a Two Heads Session. I guarantee you’ll get clarity or your money back.
And finally, I’ll leave you with a story about a focus group testing a new product idea.
The focus group loved the product. The company was chuffed. Looked like they were on a winner. Then right at the end the facilitator offered everyone a 50% discount if they bought the sample product right then or $25 cash for just turning up. Guess what. Everyone took the cash!
The only proof is in the pudding. Talk is cheap. People vote with their wallets. And your biggest competitor is the status quo or doing nothing.
The only people you should ask are your own customers. They’ll tell you why they bought and what else they’re looking for. Which is why we recommend our Client Interview Program.
Till next time.