The Right Target
For example, did you know that 22 percent of U.S. households have more than 55 percent of all earned income? Hear it againâmore than half of the income is concentrated in one of five households. Surely it must be easier to profit selling to the 1-in-5 than tit is to the 4-in-5. Not necessarily easier to sell, but easier to profit.
If you would love to attract better customers to sell to at above par and enjoy greater profits, you need to understand where the real money isâthen go there and get it. Now is the time to get as serious and as smart as possible about marketing to the financially strong, affluent buyers for your products, services and expertise.
Get started by asking yourself these key questions:
1. How would you define your best customers/prospects?
2. How do you currently get leads for your business?
3. What do you do to get your existing customers to buy more of what you sell?
4. What kind of marketing do you do other than networking?
5. What benefits do you have to offer a prospect that is better than others in your industry?When developing any marketing campaign, you must follow these three simple marketing rules in sequence:
The right message: Why should a prospect do business with you over any of your competition?
The right market: Who are your ideal customers? Where do they live, work, shop?
The right media: What is the best vehicle for delivering messages that are repeatable, predictable and controllable?
If you are a progressive entrepreneur, at this point you should be saying to yourself, âThis is different, this is interesting, and I should investigate, learn more and see how I might apply this to my business.â
If you could use a big injection of optimism-with-reason right about nowâthen use these ideas. Donât let the opportunity come and go!
Ana Loiselle is a specialist in finding new sources of revenue and growth for salons and spas of all sizes. With more than 10 years of experience in new business start-ups and transformations, she has helped numerous businesses flourish through brand development, strategic financial planning and employee training. She's had many roles throughout her career, including product sales representative, educator, management consultant and spa owner. Loiselle's salon was a two-time SALON TODAY 200 honoree.
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Originally posted on Salon Today.