The quantity of qualified buyers is more important than the quantity of buyers overall.
Why is it important to know this? Think about your marketing. Would you rather invest your time and money marketing to 10,000 possibilities, or 1000 probabilities? Would it be more effective to touch those 10,000 people once….or those 1000 people 10 times?
Of course, the answer is obvious. If you are reading this, then you probably already understand the importance of targeted marketing. But HOW do you go about doing it?
1) Learn from history
Take a moment to think back to your best clients. (Don’t say, “Well, I love all my clients!”). Really. Think about that small handful of maybe 5 or 10 of your past clients that were virtually perfect. The relationship was great. The trust factor was amazing. Any time you see them or hear their voice it brightens your day. You know the ones I’m talking about. Wouldn’t you want ALL of your business relationships to be this great? Write their names on a piece of paper, and then move to step two.
2) Commonalities
What did these people have in common? Was it a certain geographic region they lived in? Did they all have young kids? Were they all interested in similar hobbies? Did they have a certain level of income? What needs were you fulfilling? WHAT WERE THE EMOTIONAL TRIGGERS THAT YOU CONNECTED WITH? Go through each person on your list and write all of the qualities about the relationship and the individuals and then circle the ones that match up with others on your list.
3) Develop your USP (Unique Selling Proposition)
There was a reason that these people did (or do) business with you. Whether you knew it or not, you answered the most important question in their mind; ”Of all the choices out there in the marketplace, WHY should I choose YOU over any other?” Here’s the tricky part. Your instinct wants you to say that it was your level of service, or your years of experience. Sorry to burst your bubble, but that wasn’t it. Providing great service or having tons of experience doesn’t make you or your offering unique. As a matter of fact, great service and quality product are an EXPECTATION of the customer. Look at some of the great USPs out there and how successful they are:
Domino’s™ Pizza – “Fresh Hot Pizza Delivered in 30 Minutes or Less. Guaranteed.” (Answers 2 main questions: When will it arrive and will it be hot?)
Geico™ Insurance – “15 Minutes Could Save You 15% or More on Car Insurance” (Answers question of time and money)
Subway® - We are a weight loss clinic. Sound silly? Jared has propelled their business to unheard of success. They knew their competition was more McDonald’s and Burger King than Quizno’s or Jimmy John’s. So we choose “the healthy alternative”…never mind that I ask for extra mayo, double meat and hold the tomato…I still FEEL like I’m making a healthy choice.
4) Deliver on the promise
Once you have developed your USP, you MUST fulfill the promise. When Jimmy John’s gets my lunch to my house in 12 minutes, I “freak”. Domino’s is always there within a half hour. You get the point.
5) Let them know
Your target market needs to know, or you’ve wasted your time. How will you let them know? A systematic approach that includes direct mail, email, personal touch, social media, and a solid web presence. Stay committed to the plan, and the results will surely follow. Before you know it, you’ll see yourself generating MORE quality leads, which will lead to MORE quality clients, which will lead to MORE repeat business, which will also lead back to MORE quality referral leads – and the cycle will continue to repeat.
In closing, remember…it’s NEVER too late to change what you are doing. While the upward potential is unlimited, the downward potential is not. Almost every successful entrepreneur will tell you they started at the bottom, with a pile of debt and nothing in the bank. Keep your eye on the target and keep taking action on your dreams. Small habits will lead to HUGE results! Here’s to a successful rest of the year!
Play to Win,
Coach Jig
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