Okay, so you’ve gotten your business plan pretty dialed in (if not, message me for a SWOT review). You know what you want to offer, you’ve even launched your business on Facebook! You’re really throwing it all out there, but still just can’t get people to buy. What you are doing is just not working. If this sounds familiar, your problem is likely due to not having the right audience. You can’t plant seeds in a rock garden and expect to grow successfully.
If you’re pitching your business, and your products, to the wrong group of people you’re not going to get buyers. For example, if I’m pitching a yacht in a homeless shelter I’m never going to sell a yacht. I want to give you a few tools to help you to find your target audience and make sure that you’re giving them the right message.
1. Do you know your value proposition?
People buy things to solve a problem or a pain in their life. What pain or situation does your product or service alleviate? If your wealth coach it’d be pretty obvious you help alleviate financial worry by growing their investments. If you sell a pair of shoes, do your shoes have better arch supports than anybody else on the market? Do your shoes help get rid of the lumbar pain? Whatever the case may be, you have to be able to identify what problem your product can be a solution for.
Who has this type of problem?
Not every product is going to be a right fit for every person. It’s up to you to narrow down your market to people who would actually buy your product. As a wealth/investment coach, I’m not going to go after people applying for low-income housing. They don’t have money to invest, and are not going to buy my product. (Although I may offer free financial education courses charitably). If I sell high heels I’m not going to market to men. It’s not going to do me any good, and it’s wasting my marketing money. This exercise will help you get specific.
Imagine your ideal customer. What do they look like, what are they thinking about? What is their family dynamics, yearly income? Really see this person. Create this one person in your mind that you want to sell to.
3. Where is this person?
Okay, you’ve identified the problem, you figured out the person who has the problem, now you need to figure out where they are. You do this in order to maximize your marketing dollars and make sure you’re marketing your message in the right space. If my Target customer is someone’s 85-year-old Nana, I’m likely not going to be marketing as much on Facebook. I’m going to look more at print and TV. Some type of platform that Nana consumes. If I’m marketing to teenagers and young adults, I’m going to put my stuff all on YouTube and Snapchat Instagram, maybe Facebook. (That’s kind of the mom room now) Think about your target person, what they do with their day? Where are they’re likely to spend their time with offline and online activities? Think about how you can maximize your exposure to that particular person. Is there someone you can partner with? If you’re a health and fitness coach, is there a gym that will let you put up some flyers?
By really narrowing your target audience, you can market directly to that person in your messages. Write your messages like you’re speaking to that one person, and put it in a location that one person is going to be in. Doing this, you can help to target your message, stay consistent, and grow your business with a maximum amount of exposure and less money spent.
Now I hear some objections already. You want to be able to market to everybody, your product is a great fit for everybody, you don’t want to lose market by being exclusive, I get all that. If this is the case for you, you likely have multiple customer segments. Identify each of those target groups, and change your message and platform accordingly. The message that I use for Grandma is not going to be the same message that I use for the 20-year-old single guy. They have different values, different beliefs, and are at different stages in their life. I can maximize my ad copy, my message, and my value statements by giving them different messages.
These three steps or a great way to analyze your marketing, and your efficiency, no matter what product you’re launching. It could even just be a new product or service within your existing brand. Recheck these three things periodically as your brand grows and changes, and as the consumer wants and needs change to make sure you are still relevant.
If you would like my free ideal client identification worksheet please email me at email@example.com and I will send it to you.