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*** Know Success By Knowing Your Market
By
David Mason, SelfGrowth's Official Guide to Business Coaching |
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To be successful you need to differentiate yourself from other businesses, and the easiest way to do this is to focus on your niche. Your Unique Selling Proposition (USP) should give you a clue to your niche. A USP by the way is that short statement that tells consumers why they should do business with you. Why someone should buy your product or service over and above any other similar products or services on the market.
Narrow your niche down as much as you can. It's easiest to do this if you think about your ideal customer. What qualities does this customer have? What specific industry or industries does your client fall into?
Think about your customer's age, sex, income level, his/ her job title, number of children, the home he/ she lives in, geographic area, financial stability (can your client afford your product or service?) - the more you can identify about your ideal customer, the easier it becomes to work out ways in which you can serve that customer's needs.
Make a list of the above items and try to clearly and concisely define your market and
your ideal customer or client. Now make a list of the problems or challenges your client has that your product or service can solve. What sort of credibility do you have with this client and what image must you have that makes him/her want to do business with you? Can you reach or market to this client inexpensively and if so, how?
Now you know what industry you target, and a description of your ideal client. Beyond
this you also know what to provide to that client, how to come across as an expert to them and how to reach them.
What's Your Specialty?
Identifying your niche helps you to decide where your advertising dollars can be spent.
For example, if you're a florist who specializes in wedding bouquets, you could advertise in wedding magazines, and co-advertise with bridal boutiques and other businesses in the
wedding industry.
Describe your niche in your marketing plan and create communication plans and follow ups.
How will you communicate with your ideal customer and your niche?
Make a list of options: newspaper advertising, leaflets and flyers, Web advertising, telemarketing, etc. - the ways you communicate will depend on how your customer or client spends his/her time. If he or she works in the city and never reads the local paper, then local newspaper advertising is a waste.
The broad goal of your advertising, regardless of the media you select, is to reach an audience with a message that will compel them to act. But to be effective, you'll need to narrow that goal by answering these two questions:
* Who do you want to reach?
* What do you want to happen after you've reached them?
These are your objectives and will guide you in deciding where to advertise.
Schedule the actions for your marketing plan once you've decided on your communication plans, to put the plans (or one plan a month) into action. Take out your planner or schedule, and write down the actions you'll take on a specific day(s) and times.
Now take the actions! (This is key!!)
Author's Bio
David Mason is president of Mason Performance Development Inc., a Speaker, Trainer, Performance Development Coach and internationally best-selling author.
Find out more about David and how he can improve your results and be sure to take the complimentary Coaching Assessment at www.YourBigProfits.com
Want FREE marketing tips? Sign-up for The Performance Development News it's a weekly ezine for small business owners who want simple to use tips and hints to create Big Profits, guaranteed. Visit www.YourBigProfits.com. Sign-up now and get the new Big Profits Bonus Toolbox as my gift to you!
This article is copyright protected but can be reprinted unaltered including the author bio and live links.
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David Mason, the Official Guide To Business Coaching
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