You know the who, you know the why, now it’s time for the where.
Knowing who your best buyers are and what motivates them to buy will define your marketing messages. Working out where to position those messages completes the ROI marketing recipe.
In my first post of this series we addressed why knowing who your best buyers are is the key to driving your profit. We want to start by focusing your marketing efforts and dollars where there is the greatest return.
In part two, we looked at buyer motivation centred messaging. This meant candid interviews are needed to truly understand their problems, triggers around the purchase, and the language they use. This in turn makes marketing more relevant and relatable, and sales quicker and easier.
Today we take this information and use it to determine the best strategic positions for our marketing efforts. In other words we know the “who?”, the “why?”, so now we’re after the “where?” and to some degree the “when?”.
To crystallize this point lets look at the dog food industry. In the book How Companies Win, Rick Kash’s team identified a segment of the market they labelled “performance fuelers”.
These are the dog owners who are active – biking, hiking, running etc – and want their dog with them. These buyers are focused on the ingredients of the food so their dogs are energized and cost is irrelevant. Though they only make up 7 per cent of dog owners, they account for 25 per cent of all profitability in dog food sales.
Once you know your buyer it’s easier to know where to find them. As Kash says: Performance fuelers can be reached locally on a few key hiking trails and via a couple of popular news sites and blogs.
For today’s exercise let’s look at some of the questions that will help you determine where you need to be.
- Where does your best buyer tend to hangout or frequent (online and offline)?
- Where are they when their buying motivation triggers are pulled?
- In what channels or types of media would your message be best placed for them to notice it and be receptive?
- What is the strategic time for it to appear?
- Where else could you be to support, or reinforce your solution to their problem?
- Who already has your best buyers as customers that you can leverage?
This last question should form a key part of your marketing strategy. Focus regular efforts to find opportunities to align with complementary businesses, and always aim for a win-win relationship where you both gain. This gain can be financial, or through goodwill creation by adding value to their clients.
If your buyers require an education on your offering in order to buy, you can leverage what we’ve covered so far to capture them into a lead nurturing marketing funnel. Simply make sure your lead magnet follows these keys:
- Addresses their key buying motivations
- Is fast and easy to access online
- Is easily consumable in under two minutes.
Then follow it up quickly with your automated education sequence and convert using the same principles.
All of these marketing steps we’ve covered are designed to open your mind to transforming your business from doing what everyone else does, where you are merely a commodity and are forced to compete on price, to becoming a profitable brand that appeals to your buyer’s emotions.
You must make the customer feel strongly that you are the solution for them. That’s the key. Keep the intellect out of it. A brand that sells on emotion commands its own price. This is where you want to be, right?
In the next post we will look at branding and how to stop losing sales due to misconceptions being made about your business.
That’s all for this week. If you want to recap, we have a 4 Point Targeting Checklist which you can download for free. It will give you a bit more insight into the grand scheme of precision marketing.
Originally published in Kochie’s Business Builders
Teaching my heart out…
Want to get more from your brand? I am hosting a free webinar on Thursday where you will learn how to Target, Storytell and Captivate like a megabrand, and have a bit of fun in the process. Here is the link: Online Training Webinar
I am Luke Faccini, the Co-Founder and Managing Director of The Sponge, a branding consultancy firm in Sydney Australia.
I work with entrepreneurial minded business people across the globe to develop Story Rich Branding that is strategically designed to resonate in the hearts and minds of your ideal
business to succeed of course!
To find out what drives me, take a look at this post where I bare my soul and share my true purpose. If you would like your brand to tell a richer story, I would love to talk to you. Send me an email now via email@example.com