“Dare to Declare” Your Ideal Client To Generate Profitable Growth

Businesses open their door every day, market their product and try to put their best foot forward, yet many struggle with flat sales and unprofitable growth. The hard truth is that your customers may not want what you are offering, because they are not your ideal client.

Many businesses make the fatal error of going to market without a clear understanding of who their targeted customers are or the needs and wants their products are trying to satisfy. The result is a mixed and watered down marketing message and confused customers. Remember, a confused customer doesn’t buy.

Before living through one more day of flat sales invest your time into the following three activities:

  1. Dare to Declare who your ideal client is. Create a virtual Avatar of what they look like. Understand their demographics ie. age, gender, socioeconomic status and geography. Once you have a clear picture of what they look like learn to understand their psychographics. What is going on in their lives? Do you understand their worries? Do you know what keeps them up at night? How can your product make their life easier? What would motivate them to buy your product?
  2. Build your product or service solely with your customer’s needs in mind. Too many businesses build their product based on their own agendas. They may use packaging that is easy or cheap to make but may not fit the needs of the customer or a restaurant may be charging high end restaurant pricing when they physical space is better suited for a mid price or family restaurant.
  3. Craft a very clear and succinct marketing message that speaks only to your ideal client. The natural tendency is to generalize a message so you don’t miss anyone. There is an old marketing maxim that says, “those who try to make everyone a customer ends up with no one as a customer”. A very specific message will have your ideal clients lining up at your door and the good news is that other s that you didn’t mean to attract will get caught up in your net and will come knocking as well.
  4. Find the right channels to get your message out. There are endless options to promote your product but with a clear understanding of your ideal clients needs and wants you will be able to make better and more informed decisions on how to reach them.
  5. Monitor, Measure and Adjust. Measure the response of every marketing channel you are using. If you are not getting an acceptable return on your investment then either make adjustments or drop the channel.

The Marketing Mix

Marketing is much more than advertising or promotion. It includes every facet of how your customers acquire your product, how much they pay for it and how they use it. The foundation of every effective marketing plan is Price, Place, Promotion and Price, also known as the “marketing mix”. Investing time and effort into the developing a comprehensive plan will pay off many times over in better results and less wasted time and money.

If you would like a copy of the template I use to help clients develop their marketing mix email tony@empoweredbusiness.ca and put “Marketing Mix” in the subject line. I will be happy to email you a copy.

Tony Malyk
 

Tony Malyk is a Certified Professional Business Coach and Business Value Accelerator specializing in improving profitability and increasing business value in the manufacturing, distribution, trades and technology sectors.