Month: May 2019
Define Your Target Market
Many businesses can’t answer the question: Who is your target market? They have often made the fatal assumption that everyone will want to purchase their product or service with the right marketing strategy.
A target market is simply the group of customers or clients who will purchase a specific product or service. These groups of people all have something in common, often age, gender, hobbies, or location.
Your target market, then, are the people who will buy your product or service. This includes both existing and potential customers, all of whom are motivated to do one of three things:
- Fulfill a need
- Solve a problem
- Satisfy a desire
To build, maintain, and grow your business, you need to know who your customers are, what they do, what they like, and why they would buy your product or service. Getting this wrong – or not taking the time to get it right – will cost you time, money, and potentially the success of your business.
Never compete on PRICE only VALUE
Most business owners compete on price and wonder why they are not making a profit at the end of the day. This is due to business owners not knowing the fundamentals of marketing –how –What-Where –Who – Most Business owners DON’T know the lead generation secrets I’m about to reveal to you. This information is so powerful and compelling; it will position you in the top 4% of all business owners that don’t compete on price today. This example will show you why every small business owner should acquire a step-by-step road map as they start to generate leads for their business.
Here’s what a true marketing professional will know… and help you implement into your marketing. It’s known as the “conversion equation.” This conversion equation will make sure you NEVER have to compete on price. Instead, you will start selling your product or service for what it’s really worth.
You’ll drive in more leads and increase your advertising response by 10 to more than 100 times. You will convert a higher percentage of those leads and dramatically increase your number of sales. You will get a bigger bang for your marketing buck. The bottom line is this… you will literally create a profit bucket that you will have TOTAL control over.
You must get your qualified prospect to pay attention to your lead generation marketing. Simple enough to say, but a lot more difficult to pull off in real life unless you understand what you’re about to learn here. The interrupt is done through your headline if your marketing is in print… or it’s the first thing you say if you’re marketing at a networking event.
Once your prospect is interrupted, it’s critical we give your reader the promise that information is forthcoming that will help the prospect make the best buying decision possible. In other words, it must help facilitate their decision to pick you over anyone else. This is the job of our subhead line.
The interrupt is our headline that highlights a specific problem that your prospects are looking for a solution to… and the engage is our subhead line that promises them that you offer a solution to the problem we mentioned in our headline.
Once we’ve interrupted and engaged your prospect, we have to give information that allows them to logically understand how and why you solve the problem they’re facing. This is accomplished by giving detailed, quantifiable, specific and revealing information.
This is typically done in the body copy of your ad. When we educate, we need to reveal to your prospects the important and relevant information they need to know when making a good decision, and that your business… and yours alone… provides it to them. The interrupt and engage hit the prospects emotional hot buttons.
Educate is the logic they need to justify picking up the phone and calling you.
Now that we’ve interrupted your prospect based on problems that are important to them… engaged by a promise of the solution… and they’ve examined the educational information that makes your solution real and believable… the last step we need to take is to give them a low risk way to take the next step in your sales process. We do this by offering a free marketing tool, such as a report, brochure, seminar, audio, video or something that will continue to educate them. Your offer will allow your prospect to feel in control of their final decision to call and buy from you.
So our conversion equation is Interrupt, Engage, Educate and Offer and together they equal market domination.
Strengthen Your Marketing Message
The strength of your marketing message lies in its ability to speak to the specific wants and desires of your target market, and tap into their emotional reactions, or hot buttons.
When you push those hot buttons, you motivate your audience to take action. The more people you can motivate to take action, the more leads you’ll have in store and on the other end of the phone line.
A marketing message is simply a statement or phrase that you use to communicate information about your business to others. A strong marketing message will do four things:
- Speak to the reader’s needs, wants or problems (hot buttons)
- Offer a solution, advantage or benefit
- Describe a point of difference
- Motivate the reader to take action
The key here is to motivate your target audience to do something after they read or hear the message. It needs to be strong enough to entice the audience to ask for more information, visit the website, pick up the phone or walk in the store.
You should put your marketing message on every piece of marketing material your business uses for lead generation, so it has to be powerful and consistent and speak to the group of people that you have identified as your ideal customers. Strengthening your marketing message has the potential to dramatically increase your lead generation before you even change your existing strategies.
Work through the following questions to brainstorm and record the aspects of your business that you will communicate in your marketing message
- Use all the information you gathered about your target market to figure out what your customer’s hot buttons are.
- Describe the value or benefit that your product or service offers your customers.
- Think about the outcome of the value or solution that you provide.
- What is your company’s point of difference? Your U.S.P? What makes you stand out from the competition?
- Based on the notes you wrote in response to the above questions, summarize the information into a paragraph of 4 to 5 sentences.