This alone accounts for at least 40% of your marketing efforts
When I decided to get into the business of dispensing advice for money, I had an interesting customer profile…
‘’Anyone with a pulse, a wallet, and an interest in business’’
Whether they were about to start a business, just started a business, or had been in business for a long time… It did not matter.
As far as they could spell the word ‘’Business’’; they fit into my customer profile.
In fact, like most people; my first set of clients was family and friends, who were just about to get
started in business…
Or just recently got started, but weren’t really making anything decent yet…
The business was their ‘’Side Hustle’’
Somehow, they were never able to afford me. When I shared really powerful ideas and strategies with them, they couldn’t afford to execute on them.
When I recommended high quality marketing campaigns, they couldn’t fund it. When I gave solutions to running profitable advertising, they couldn’t afford to run the ads.
They couldn’t afford me. I couldn’t afford them. We couldn’t afford each other.
How do you think that went?
I was so broke, my bank account was as quiet as the cemetery – no energy, no activity, nothing!
So when I came to the life altering revelation of…
‘’Hey, I shouldn’t be selling to these guys; I should ONLY be selling to people who can afford to pay for what I’m offering’’
… My business started awakening from the slumber.
I took the exact same message, and the exact same advice that I was giving to the beginner small businesses, and started sharing them with entrepreneurs who run more mature businesses…
They were getting results more easily, making more money, and were able to pay me without making their families go hungry for the month.
But here was the kicker:
‘’I didn’t actually change the message, and advice. All I did was put in front of a different audience – The Right Audience”
And that changed the game for me.
It didn’t take me very long to figure out that
Trying to be all things to all people was one of the dumbest things that exist today…
(Especially if you’re a small or medium business)
Actually that’s not true. It did take me a while to figure that out, because I was so mentally and
emotionally attached to the idea of…
‘’What I have is for everyone, and I don’t want to focus on any single niche, I’ll lose all the markets and people that could potentially give me money’’;
While that sounds smart, the results do not really back this up in real life. The downside effects are enormous. And the upside effect is at most ‘’average’’
‘’Every product or service has the potential to appeal, much more “STRONGLY” to a specific group of people than it appeals to everybody”
Even really smart marketers and entrepreneurs that should know better still fall into this trap!
But unless you’re selling everyday consumables to the market on a national level, you shouldn’t try to get everyone with a pulse and a wallet…
And even that is arguable also.
The notion that you can be “All things to All People” is probably the surest, most often repeated path to business Failure that exists.
Understanding and ethically exploiting this puts you in a powerful position to help you build a very successful business and make you rich.
A Critically Important, Highly Profitable, And Stress Relieving Business Strategy
One of the most important, highly profitable, and stress relieving business strategies you’ll ever master is selecting who you decide to market to and ultimately do business with.
Your entire business success hangs on your customers and the source for attracting your customers.
Attract the kind of customers or clients that is most ideal for your business.
DO NOT Fall into the trap of working with or selling to just “anybody you can get.”
This is what most businesses and entrepreneurs do; therefore, they grossly undercharge…
Deal with whining customers and clients all day…
And are not able to do the job well, or provide enough quality.
It leaves them stressed, and also leaves them scraping for profits.
This is the reason some $1000 seminars are booked to the brim, while many $49 seminars don’t even get a single attendee…
Some stores where everything costs almost 5 times the regular amount are filled with customers like fans in a football stadium, while many low cost, discounted stores are struggling to pay the bills.
What then is the major difference between charging above average prices and selling out versus discounting your prices and going broke?
In the scenarios I gave above and many more scenarios you’ve probably encountered…
The people who buy from the first sellers are not the same definable group of people that buy from the second sellers…
This is what I mean…
You can reduce your product cost to its barest minimum, if you selected the wrong guy to be talking to, he’s not going to buy.
And you can triple your current prices, if you’re talking to the right person, and making the right
proposition, he’ll open his wallet for you.
My income went up when I changed the category of people I was putting my services in front of.
‘’How much you can charge and be paid is highly controlled by the category of prospect you’re talking to’’;
You may want to reread that last line
Quite simply stated:
The Better The Selection, The Better The Results.
This helps you tailor your marketing message properly…
So here’s the question to ask to get you in the right direction:
‘’Who is best positioned to afford, use and can get results with your products or services?’’
Three key things here…
1. Who is in the best position to AFFORD it?
If they can’t pay for it, then why are we having this conversation in the first place?
2. Who is in the best position to USE it?
For a couple of months now I’ve been off soda. Why?
If you have a soft drink product, I’m not your guy!
If you offer Team Productivity training, the solopreneur can’t make use of your offer…
3. Who is best positioned to GET RESULTS from what it is that you’re offering?
Who are the people that can benefit the most from what your products or services?
If people can’t get results from your offer, you would be shooting yourself in the foot… Believe me, I’ve been there.
40% of your marketing effort is about selecting the Right Audience to be talking to
The remaining 60% is shared between The Offer, The Message, and The Medium.
When you’ve identified this market, learn everything you can about them…
The more you understand them, the more you can sell to them.
So I’ll leave you to ponder on this question:
‘Who is best positioned to afford, use and can get results with what you’re selling?’’
To Increased Impact and Wealth!
He is a Marketing Assets Consultant, an Exponential Technology Expert, and a Global Authority on LEADERSHIP BASED SELLING with over a decade experience in selling.
He is the Host of THE BILLION EFFECT; A podcast that helps Visionary Entrepreneurs, Transformational Leaders, and World Class Organizations leverage EXPONENTIAL TECHNOLOGIES to create massive Wealth, Impact and Influence in the decade 2020 – 2030.