Many people often jump into business making a wide range of assumptions. They have made something they are passionate about and now the mass market will love it too and fully understand what they offer. But when they go to market, sales are often lower than expected and the business isn’t as successful as they had hoped.
That doesn’t necessarily mean that the product they have is wrong. It could be that not enough thought has been put into to who they are targeting and what makes those customers tick (and by tick I mean, what makes them want to buy and what value do they get from buying those products or services). It’s easy to spend a lot of time and money on marketing and sales activities reaching the wrong people or with the wrong messaging but the good news is that it’s also fairly easy to correct this!
So, what does this have to do with you?
Whether you are in the start-up phase of your business or you are established, it’s worth taking a step back and doing a reality check to make sure you are clear on the following questions:
Who are you targeting?
What are the needs of who you are targeting and what value do they get from your services?
The best way to approach this is by creating what I call ‘The Ideal Customer Profile’. This involves defining your ideal customer with information such as what interests them, what are their aspirations and what issues do they have including the challenges they face.
A personal fitness trainer might, for example, have an ideal customer being 30-50 years old and struggling to find the time to eat healthily and get regular exercise. They want to lose weight and need a ‘coach’ to motivate them. The messaging in marketing and sales activities would be a lot different to if they were targeting young men in their 20s wanting to be professional bodybuilders or professional athletes!
Once you have created the ideal customer profile you can then target them more effectively with the following:
Core message: What you help them to overcome or how they can hugely benefit from what you offer.
Channels: Targeting where your customers ‘hang out’. Whether that’s Instagram, LinkedIn, Trade shows or somewhere else.
Product changes and variations: Slight changes may be needed to what you offer including additional services. Taking the above example, the personal trainer may offer more dietary plans rather than body pumping exercises and offer food planning books or devices that monitor their activity as extra services.
Once you have your ideal customer profile and made changes the next step is to go to market with them and see how they impact sales. Monitoring feedback from customers or prospects will most likely lead to ideas for further improvements – and even more sales success!
If you would like a FREE Customer Profiling Guide, email me at firstname.lastname@example.org and quote ‘Customer Profiling’ in your email.