Does Your Marketing Strategy Begin in the Right Place?

It never ceases to amaze me how many business owners spend all kinds of time and other resources creating and implementing a marketing strategy that begins at step two. They either ignore the important first step altogether, or pay so little attention to it that it contributes little or nothing of value to the final plan.

What I’m talking about here is developing a profile of your ideal customer. A good definition for the term “ideal customer” is; someone who is most likely to buy from you.

Many business owners don’t understand this essential first step in creating an overall marketing strategy. The reason it’s so important is; by having a handle on what your ideal customer looks like, you’ll be in a better position to determine which marketing techniques are likely to be effective and which are not.

For example, if you were a heating and air conditioning contractor, you would probably be wasting valuable marketing resources if you sent marketing materials to residents of an apartment complex. The apartment owner or manager would typically make decisions on such services, not the residents themselves.

Having a profile of your ideal customer and carefully considering that information when creating a marketing strategy is important regardless of what business you’re in.

So, how do you go about developing a profile of your ideal customer? By asking and answering several questions. For example:

• Is your ideal customer male or female?
• What age range do they fall into?
• What is their education level?
• Are they married, divorced, widowed, or single?
• What is their income range?
• What do they enjoy doing in their spare time?
• What challenges do they typically face?
• What are their dreams and goals?
• Do they spend time on the internet? If so, where and for how long?
• Do they engage in social media? If so, which platforms?
• What types of businesses already market to them?
• How do those businesses market to them?

Having answers to these, and other questions, will put you in a place to make educated decisions on which marketing tools and techniques will be most effective in your market.

Of course, identifying your ideal customer doesn’t preclude you from doing business with those who don’t fit your profile. You just won’t be focusing your marketing efforts on them.

If you’d like help creating a marketing strategy for your business, contact us online or call 702-738-1197.

 

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A Roadmap to Reaching Thought Leadership

Research has shown in order to become a master in a particular field, you need to invest at least 10,000 hours of practice within the field.  In addition, to be effective, this practice has to be deliberate: it must be mindful and completed with the constant goal of improvement.  How do these 10,000 hours of practice relate to thought leadership within a particular field?

Becoming a thought leader requires the same amount of attention as becoming a master violinist, golfer, or painter.  It takes a commitment to constant improvement with an eye to becoming an expert in the field.  If you want to become a thought leader, you must give yourself a road map to success so the hours you spend at work will be transformed into the “deliberate practice” that will turn you into an authoritative expert.

Attend Conferences.  You need to know what other thought leaders are doing and saying.  The best way to locate other thought leaders is to attend conferences within your field. Conferences tend to attract large numbers of eminent figures within any particular field.

Read Current Research.  A though leader must be thoroughly knowledgeable about his or her industry.  It’s necessary to read current research or reports from within your field.  Subscribe to journals, newspapers, magazines, or any form of media that conveys recent news within your business.

Connect With Other Fields.  Thought leaders earn success by devising creative solutions, theories, or ideas within their trade.  Creativity requires flexible thinking and a multidimensional understanding of a vocation.  In order to see your work from a different perspective, connect with other professions or study to cultivate mental flexibility.

By focusing on gaining more experience every day, your commitment to becoming a thought leader will begin to pay off.  Being knowledgeable about your business will give you a keen sense of view to allow you to recognize trends and opportunities.

If you have any questions or comments about thought leadership and small business success, please feel free to contact us!

Small Business Marketing Strategies: Leverage Your Network

Many small businesses spend a large part of their budget on marketing to generate new business prospects.  For many small businesses, new clients come from referrals which is a different kind of marketing altogether.  In addition to print and online marketing strategies, small businesses should keep their networks in mind with regard to finding potential clients.  Leveraging a network is one of the most effective, low-cost marketing strategies to add projects to the pipeline.  Here are a few ways to leverage your network:

Start With Your Primary Circle

Identify connections within your primary circle — people with whom you would like to communicate regularly.  Who shares your business vision?  Who is likely to have a healthy network of like-minded people?  It’s nearly impossible to maintain strong connections with a large number of people, so focus on a group of 20 or less for your primary connections.  Once you have identified these people, make sure to connect regularly.

Communicate What You Need

In order to find business opportunities within your network, you need to communicate about your business.  Otherwise, nobody will know how to help you.  Prepare an elevator speech describing what your business does, and don’t hesitate to tell people about your professional life.  When you are looking for more business, make sure to ask for referrals and introductions when appropriate.

Reach Out and Keep Connections Alive

Do not hesitate to initiate contact with network connections, even if you haven’t been in touch for a long time.  This can be done by phone or email, or through social media sites such as LinkedIn.  Although it may be initially uncomfortable to reach out, many people are responsive and will be glad to reconnect over lunch or coffee.

Give and Take

One of the best ways to leverage your network and improve your chances of finding business possibilities is by helping others first.  By helping others, you are creating an environment in which others will be happy to return the favor, and are avoiding the trap of only interacting with others when you need something.

For more advice on marketing and communication strategies, please visit our website.  If you have any questions or would like to speak with us, feel free to contact us!