Attracting Your Ideal Customer

If a business isn’t growing, it’s dying. And the only way to make sure your business is growing is to identify and engage a steady stream of new customers.

Identifying your ideal customer & generating more revenue

Let’s begin with the end in mind. As a small-business owner, you want more customers, which translates to more revenue.  However, the only way to attract more customers is through effective and compelling marketing.

Unfortunately, marketing can be expensive, so it’s important you make sure you’re getting the right message out to the prospects who are most likely to buy what you sell. If you get the right message to the “right” prospects, they’ll not only buy from you, they’ll keep coming back, buying from you forever. They’ll tell their family and friends about you and they’ll spend more money with you than your typical customer.

So your number-one priority is to find out exactly who your ideal customer is.

 A massive volume of customers is not nearly as important as serving the right customers. When you match your business with the right customers, you’ll increase customer loyalty, decrease complaints, and have fewer returned items from dis-satisfied customers.

Here are three areas to look at when marketing to your ideal customer:

Wants vs. needs — why they buy

Attracting your ideal customers through marketing requires you to discover the specific wants and needs of these customers. These wants and needs are often referred to as “hot buttons.” Keep in mind that there is a big difference between wants and needs. They may sound similar, but they’re as different as black and white.

As a business owner, it’s important to distinguish between the two in order to attract more customers and grow your business. By learning the specific wants and needs of your customers, you can learn how to better market your product or service in a way that speaks to your ideal customer and leads them to buy from you.

A want is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is a new car.  You may not need a new car but you when you want a new car you somehow find a way to get it.

A need is something you have to have, something you can’t do without. A good example is food. If you don’t eat, you won’t survive for long. You might not need a whole lot of food, but you do need to eat.

The fact is, wants are much more powerful than needs. When marketing your product or service it’s therefore vital you move away from promoting the need for it and start to identify with why your customers want your product.

There are two primary categories of information that will assist you in determining your customers needs and wants.

The first category is called demographics. These are the characteristics that identify the ability, need and interest of a customer to purchase your product or service. Demographics define those customers who need what you sell.

The second category is called psychographics. These are the factors that identify the motivation or reasons why someone wants to buy your product or service. Psychographics define those customers who want what you sell.

Hot buttons — what they want 

Depending on your industry, customers will have different wants and needs, called “hot buttons. Hot buttons are the problems, frustrations and concerns that most customers consider when they do business with your business. Many business owners feel that price is always the number one hot button that impacts their customers. In reality, price is one of their last considerations. Most customers are more than willing to pay a higher price if you offer enough value to warrant the higher price. Unfortunately, most marketing and advertising looks exactly the same, using common phrases such as, “We’re the best” We offer the lowest prices, the best service and so on. If you market this way, as most businesses do, your customers can’t determine the true value you provide, so they default to lowest price as a differentiator.

Whatever you do, don’t fall for this trap! Fortunately, the idea that price is most important exists only in the mind of the business owner which can be retrained. On an operational level though all you need to do is provide more value than your competition. When you do, you can actually increase the price you charge for your product or service.

Below is a short list of industries and their corresponding hot buttons.

Select the industry category that your business belongs to and then prioritise your customers’ hot buttons in order.

This exercise will help you identify your ideal customers’ wants in order to create the proper messaging that will appeal to them.

 

Common Hot Buttons for:

Service Industries Fix it right, Fix it fast, Be on time, Provide quick resolution, Be honest

Professional Industries Expected results, General customer service, Price of affordability, Guarantee results, Trustworthy

Retail Industries Product options, variety, selection, Product quality, Product results match expectations, Customer service, Advice, Knowledge, Price

Opportunity/ Entrepreneur IndustriesMake money (return on investment), Easily transition into ownership, Validation, Proof of support, Resonates with beliefs and values

Wholesale IndustriesMake more money and higher margins, less hassle, easy to do business with Low risk, Reliability, Receive it on time

Overall, these hot buttons apply to most businesses in each industry category. Occasionally, other hot buttons may be more appropriate than those listed. If you honestly believe your specific hot buttons need adjusting from those that are listed, make those adjustments now by either rearranging the priority sequence or removing and replacing any hot buttons you feel may be more appropriate for your business.

By using these guidelines, you can create persuasive marketing messages that address your ideal customers’ needs and motivate them to buy from you. If you do this really well, you will find yourself attracting more customers in a short amount of time.

Decision makers, influencers and users — who to target

There’s one more area that needs careful consideration. In most business transactions, there’s a decision maker, an influencer, and a user. Here’s a typical example. When eating McDonalds, the parents are the decision-makers, the kids are influencers and in most cases they’re all users. Think about your business, your users may not be the influencers so it’s important to direct your marketing to the influencers to drive an increase in sales.

A point to consider is the end user of your product or service may not be the only person involved in the buying process. This is especially common in business-to-business transactions, where you may find that there are influencers or decision makers that are not the user.  Once you understand this and identify these three roles you will have better control over your marketing and notice a significant difference in your revenues.

By using these guidelines, you can create persuasive marketing messages that address your ideal customers’ needs and motivate them to buy from you. If you do this really well, you will find yourself attracting more customers in a short amount of time.

Time to Take Action-

Take some time over the next week or two to consider

  • Who your ideal customer is
  • What are their HOT Buttons
  • What future compelling marketing strategies will you create in order to attract your ideal customer and not just any customer
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