Monday, February 7, 2011

Are You Marketing to No One?

A big problem with entrepreneurs and small business owners is trying to market to everyone and no one in particular. I guess it’s because they see the big corporate doing it hence they think that is the way to make money. This is not correct!  Unfortunately this happens all the time.  My advice would be that you target your audience because “If you’re marketing to everyone, you’re marketing to no one”.
 By targeting your specific market you will actually will make more money by increasing your return on marketing investment.

Because you are targeting a smaller market, the same amount of money you could have spent marketing to everyone is focused on a smaller number. Therefore you have more to spend on each prospect than you would if your market was bigger. This alone makes you more successful.
When targeting your niche you can appeal to their specific needs rather than having a general message that appeals to nobody. You're saying to them that you are THE Company that knows about their situation - their problems - and their concerns. No other company specifically meets their needs in this way and therefore you're seen as the logical company to turn to.
Below I have a checklist to help you target your market.
Here are 5 tips:
  1. If you can’t tie  your marketing to revenue, customer acquisition or awareness, then you shouldn’t be spending time on it!
  2. Immerse yourself in your buyer’s world – attend their events and conferences, and read relevant blogs and publications. 
  3. Conduct win/loss interviews to help you better understand your buyer’s interests/pains and validate your messaging.
  4. Before creating anything … think about who the audience is, what is the stage in the buying process and what objection are they trying to overcome?
  5. And lastly, never confuse efforts with results!
Remember: If you’re marketing to everyone, you’re marketing to no one”.

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