Even in this day of purpose and servitude, at the end of the business day, it’s still about making sales. Sales occur when an exchange happens; your business provides something to someone in exchange for something else, most often for money.
If your business is not making enough exchanges, drill down on the simple and important key components of marketing and figure out why.
Laura Berens, (center), Founder of Love & Fit.
How does your customer know you?
What does your brand or your company stand for? Someone should be able to hear you articulate your brand and immediately nod their head, “Yes, I get it.” Make your message simple. Be straightforward. Include how you are different and unique. If you can’t articulate this in two sentences, your business may be too broad. Perhaps it seems counter-intuitive, but the more specific and targeted your brand, the more abundance there will be. For example, check out the story behind Love & Fit. It’s the story of a fitness clothing company. Would you compete against Nike, Under Armor, Athleta, and Lululemon? Founder Laura Berens was willing to because she saw a huge gap in the market. She started her clothing line with one product, a sports bra designed for expecting and nursing moms.
Mary Marz, owner of Perfectly Poised, a style and image consulting business here in Erie.
What do you offer?
Does your product or service deliver on your brand promise? Does your product or service represent what your company stands for? To test this, ask your best customers what your company does well. Do your customers’ words align with your message? Use the phrases you test to come up with the simplest explanation and description of your product or service. A good example is Erie CO.STARTER graduate Mary Marz and her company Perfectly Poised. You will find her website has simple and clearly written copy and the services she offers are in line with her company’s values.
Pineapple Eddie, a unique southern bistro in Erie, PA.
Do you know your ideal customer?
What is she all about and what do you know about her? Demographics? Psychographics? Look at your top 5-10 customers; what do you know about them? What about your business made them a customer? Look for similarities between your customers. Use descriptive words that explain your customers’ habits, beliefs and desires. A good study is to look at the restaurant industry. Observe how a restaurant targets a specific customer through décor, atmosphere, menu and selections. For example, read about Jean Paul (JP) and how his story makes Pineapple Eddie Southern Bistro here in Erie a unique dining experience.
Everything you do as a company should lead to making an exchange with your ideal customer. Whether you are struggling or feeling success with your marketing, its a good idea to frequently review your brand, product and customer profile.
If you start by simply and intimately knowing the components of exchange in your business – the customer and your brand and product or service – you can successfully execute and build out from there. If you get even one of these components wrong, all your efforts will send you on a trajectory where your business won’t gain traction. Instead of sending out lots of random messages with the hopes that one will work, it is better to be consistent aiming at your target with a clear message each and every time.
Marketing is time consuming because it entails so much more than what can be discussed in one article. Do you struggle with marketing? Would you like more articles on marketing and sales? If so, let me know what specific area is of interest to you?