If all you do in the next three days is sit down and identify your most lucrative audience then it will be the beginning of something special for you and your business.
It doesn’t matter what industry you’re in, how large (or small) your company is or whether you sell business-to-business or business-to-consumer.
The point is this…
Selecting and then tailoring your message to each identified target audience can multiply your sales and your profits. By focusing on a particular target audience, you almost wipe out the competition because YOU are the company that has the product or service completely tailored to that particular audience.
You competition continues to try and please everyone, but in reality their message becomes so diluted and confusing that they please no-one in comparison.
By carefully selecting your target audiences, it differentiates you and therefore minimises your competition. As a result, you’ve added considerable value to your business without really changing anything. This means your prices become less of an issue which in some cases even allows you to increase them without any resistance from customers.
If you have three key target audiences, that means you need three slightly different messages so that you can ‘talk’ to each of your audiences individually, specifically addressing their needs, goals, fears and frustrations.
Here are 7 key questions to help you identify your ideal audiences…
- What do you do well and enjoy at the same time?
- If you offer a range of products/services, think about which type of customers could benefit most from each one. (It’s unlikely every customer will benefit or be interested in all your services or products so ensure your marketing is specific to their needs.)
- Which product/service is the most profitable for your business?
- Who are your best customers?
- Do your best customers have any similarities, for example, are they a similar industry/turnover/location/size?
- What is the profitability of each customer?
- Does your business have any expertise relating to specific types of business or people you deal with?
Please feel free to drop us any questions you may have at [email protected] or tweet us @viewpointms using hashtag #askvms and we will feature your question in our marketing video blog.
