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 Industries– Make money (return on investment), Easily transition into ownership, Validation, Proof of support, Resonates with beliefs and values

Wholesale Industries –Make 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

Hit Your Targets and Maximise Your Potential

Hit Your Targets and Maximise Your Potential

Have you set a revenue goal for the year? Have you prepared a cashflow forecast for the next quarter, six months and twelve months? Whether you’ve formalised your revenue goal or not, you would have by now a number in your head for where you want to be at the end of the year.

Its very important to start the year off knowing exactly where you finished last year and exactly where you want to be by the endof the year . Without knowing this number if will be almost near impossible to deliberately set your course of action on a weekly, monthly, and quarterly basis.

When we speak of goals we at Vision Alliance speak holistically, so that you include your business and your life. There are six areas in your life for which you must define goals:

  • Finances
  • Relationships
  • Contribution
  • Health
  • Spirit
  • Business

Most people don’t achieve the goals they set not because they lack motivation, but because they don’t know how to define attainable goals and keep working consistently to get there. As every successful business coach will tell you, that’s the difference between successful people and the ones who must struggle to survive. Successful people know how to define and attain goals. Surround yourself with successful people and you will see the patterns unfold before you. I am forever remind people that over the past two decades of helping businesses grow, I have found there are two types of people in this world. Those who are committed and those who are just interested. Which one are you?  If you haven’d heard me speak of this let me expand on this a little. Those who are interested will do what is convenient to them. Those who are committed will do what ever it takes to achieve their outcomes. So are you interested in success in 2011. or are you truly committed?

Goals setting starts with setting SMART –A Goals. Im sure you have heard of SMART goals but how many of you have heard of a SMARTA goal. A SmartA goal is one that is

  • Specific
  • Measureable
  • Achievable
  • Realistic
  • Time Bound and
  • Actionable. 

That’s right it’s absolutely no use setting SMART goals if you don’t take the necessary ACTION to get you closer to where you want to be.

It’s always a good idea to start off small. Remember you eat an elephant the same way – in bite size chunks so don’t start with increasing revenues by 200% when you haven’t yet reached a 25% increase. Once you get to 25% start reaching for 50% and then 100%. Most of us think we have to increase our results by 100% overnight. You can no more double your revenue this year by simply saying you’re going to work harder and sell more than you can lose 10 kilos in a week or two by saying you’re going to eat less and exercise more.

You need a plan and you need to follow that plan daily. By focusing on the small bite size chunks and on improving just 1% every day,  you will dramatically increase your overall results over the course of one year.
As a friend of mine always says, nothing changes if nothing changes. Keep doing the same things you did last year and you will be guaranteed to produce similar results. Do something different, take consistent action, test and measure your results, make changes when and where necessary and you will be guaranteed to close the gap between where you are and where you want to be in a shorter period of time.

Here are the six requisites one of my mentors taught me that every successful person meets to attain his or her goals:

  1. Know Your Why I added this one in here as it’s so important. Without knowing your why it will be more difficult to align yourself with your overall vision, values and product and or servic offering. Start speaking a different language by communicating Why you do what you do rather than What you do.  You will be amazed how quickly you can affect change in your business.
  2. Dream big
    Think out of the box and establish ambitious goals. Do not set goals thinking that there is a limit to what you can achieve. The only limit is yourself and the past conditioning you allow to stop you from getting what you want.
  3. Write down detailed goals
    Successful people know that writing down their goals initiates the process. This is why you have to be specific, because what you write down is what will begin to happen. Your achievements will be as accurate as what you wrote, because you are appealing to the universal laws and are setting your mind to work as focused as possible. So don’t write down that you want a new car; explain that you want a new full extras, silver BMW, with black leather seats, a full warranty and full service for life.
  4. Your goals must be in harmony with your values
    You will attain your goals easily if you are working on something you value, because it means you are aligned with your purpose in life, your WHY. First, define your WHY, then define your values and thirdly, base your goals on and around them.
  5. Your goals must include two things:
    a. A specific plan to attain each
    b. The correct beliefs and mindset
    Without these, you will never attain your goals, thus, clarify your beliefs and think about what actions will lead you to attaining your dreams.
  6. Check your goals daily
    Before you get out of bed, before you eat your breakfast, review your list of goals. Visualize your life having attained them: how does it feel? It’s always a good idea to review your goals also before going to bed at night. What you are doing is programming your brain to work on your goals subconsciously, and to expect them to become a reality.
  7. Never lose hope- remember everything is possible if you put your mind to it and then take action.
    You never lose, even if you don’t get what you wanted. In case your dream doesn’t become a reality, remember that you still have what you learned in the process. Experience is crucial to advancing in life. As long as you focus on what you want, you will find the way to get there, in spite of the challenges or setbacks you may encounter along the way.