Whether you are a brand new business, or an existing concern, it is essential that you understand what exactly you are trying to accomplish with your marketing. So many of my clients over the years jump the gun on this and start marketing without really understanding whom they are trying to attract.
So they send out mailings, whether direct mail or e-mail, offering huge discounts to get the attention of “prospects”. They have rarely considered who exactly these prospects are, over and above identifying if their market is Business-to-Consumer or Business-To-Business.
So they lead with low-ball offers to try and get any type of response. Then they wonder why their response rates are so low and margins even lower.
Remember this at all times: people are willing to pay more for someone they consider an expert. So you must work hard at increasing your credibility at all times. See my article “Enhance Your Credibility” for the best way of quickly creating your credibility status and becoming THE authority in your marketplace.
In our world of education based attraction marketing the question comes down to:
Who exactly are you trying to educate and attract??
A great way to get a handle on this is to use Gerry Robert’s concept which he calls the “Fastest Path to the Biggest Cash”. You need to first identify exactly who your target population is and what their needs and problems are so that you can create attraction marketing devices designed for your specific target. Then, you must identify two main factors: the speed at which you need additional income and the size of the customers you are trying to attract. Are you looking for a lot of smaller customers to buy something, anything very soon? Or would you prefer to wait a little longer but get much bigger clients??
Once you have identified these critical factors, then you know exactly who you are trying to attract out of your entire universe of potential prospects.
This can be complex to understand at times. For instance, I have two clients, both in MLM businesses. One is more focused right now on building her down-line to enhance her longer term recurring income opportunities, whereas the other client is quite discouraged in the income she has earned so far in the business, which happens to be nothing, so she is more focused on earning ANY income. We therefore identified that she is better suited initially to gaining adopters of her products so start earning something and getting some momentum going. Whereas the first client is developing strategies to attract her target population which is likely to want to join her, develop a business of their own, and earn greater income over the long term.
So what about you? What are YOU trying to accomplish???
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