Before you spend a cent on ads or marketing materials you should have a good understanding of who you are advertising to. Who are the people who are going to buy your products or services? If you say “everyone” then you need to narrow down your audience significantly. Defining your ideal customer should be part of your business plan before you even hang out your shingle. If you are having trouble figuring out who your ideal customer is then here are some questions you should ask.
Who Do You Serve?
Who will buy your products and services? Are you catering to business owners, women, or millennials? Do you have an age range or geographic location where they live? This is probably one of the most important aspects of business planning and one that business owners overlook. You should determine your target market so that you can cater your marketing messages to them directly. You need to know the language they speak, what they like and what keeps them awake at night.
Can They Afford You?
As mercenary as it sounds businesses fail if they don’t make any money. While helping people may be an nice aspect of your business you still need to turn a profit if you want to eat. Understanding the financial situation of your clients will help you decide how to market your products and at what price point you need to be at. Price is also directly dependant on the value that you provide and that needs to be taken into consideration as well.
What Keeps them Up at Night?
Understanding the problems and worries of your clients can help you market your business. What problems do you solve? How do you effectively communicate that to your audience? You need to educate them on how your products or services solve their problems in language that they understand.
Where Do they Hang Out?
If you want to attract the attention of your customers you need to know where they are. Almost all marketing is done online so what platform are your customers using. Will they search on Google for your services or on LinkedIn? You cannot get in front of them if you don’t understand where they are. You can do market research to see what they need and what they want.
Most businesses fail in the first five years and that can largely be attributed to poor planning and a lack of marketing. If you have no clue who your customer is then you can’t market to them effectively. Learn who your ideal customer is and you have half the battle won already.