Category: Target Market

How To Transform Your Existing Marketing

Here are 10 key elements you should include in your marketing pieces, whether verbal or written. The more of them you can include, the better.

  1. You should address a clearly defined target market and position yourself as a specialist or expert
  2. Focus on an issue or concern that people in your target market are thinking about. Your headline or first statement should INTERRUPT by highlighting this issue.
  3. Promise them a solution in your sub headline or second thing you say. This is how you engage your target prospects and keep their attention.
  4. Explain  your “differentiator” which is what makes you stand out.  That’s how you avoid having to compete on price.
  5. You need to include an irresistible, low or no risk offer.
  6. Explain all the features and benefits of your offering. Your prospects buy emotionally, based on benefits. They then justify their purchase with the features, using logic.
  7. Include some social proof, such as testimonials, clippings and qualifications. This reduces the perceived risks of dealing with you for the first time.
  8. Give your prospects a cast iron guarantee to eliminate any perceived risk of buying from you.
  9. You need to explain why what you are offering is not “too good to be true”.
  10. You should always have a call to action with a “stimulator”.  Create either scarcity or a deadline so your prospects overcome their natural inertia and act now.

Stop Wasting Your Resources!

Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:
  • What do people really want to buy from me?
  • What related products are they already buying?
Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores. The basic concept is this: You want to find existing businesses who have the customer profile that you are looking for to market your products/services to. Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses. As a result, you have an audience to market to and they generate an added value from their current base. So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success. LV = (P x F) x N – MC Here’s what it all means:
  • LV is the life time value of a customer
  • P is the average profit margin from each sale
  • F is the number of times a customer buys each year
  • N is the number of years customers stay with you
  • MC is the marketing cost per customer (total costs/number of customers)
Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers. So, here’s your step-by-step process:
  1. Find companies who already have the customer base you are looking for.
  2. Negotiate an incentive for them to share that customer base with you.
  3. Focus your marketing resources to this group of predisposed customers.
If you need help working through this process, please contact us and we’ll set you up with the most comprehensive system of marketing tools and resources.