John Rust ConsultingUse Target Marketing
To Beat Your Competition
Simple Steps to Identify and Land
Your Most Profitable Customers
Part Three
By John Rust
A marketing plan keeps you aimed at the most profitable customers. It gives you the discipline to identify your ideal prospects; to know what they want that only you can give to them; which ones you will have less competition for, how to tell them about your service, and how to convert them from prospects into paying clients.
In the last sections, we learned how to identify a target market based on two critical factors, and about the first of the "Six P's" of Marketing. In this section, we will continue with the "Six P's", and how to turn a market segment into profitable customers.
The Six "P's" of Marketing - continued:
Marketing Step 6 - "People":
Every marketing campaign is delivered by people. Some people involved may be your employees, suppliers or other sales agents. Be sure everyone understands your plan so customers get the same information about you, and the same level of service that you promote.
Your customers will develop different impressions about you no matter what. This makes it very important to clearly know and be able to explain who you are and exactly what you offer. Simpler messages are best.
You will also deal with other business persons, either as employees, suppliers, competitors or representatives of the industry. Defining your targets thoroughly, and making your services different in some important way, will reduce the appearance of direct competition. This will lead to better relationships with both customers and other businesses.
Marketing Step 7 - "Politics":
No doubt about it, politics is the one factor that can instantly change your business. You need to be on the alert for any political activity that might affect you. Business owners must watch the licensing rules, local zoning, applicable laws, management policies, taxation, liability laws, national legislation, and a host of others.
Political activities will sometimes help you. Other times you will be hurt. You really don't want to wake up one day to find out that you can't perform the services that earn your living, or that any one else can't either.
Joining a trade or business association is one way to help stay aware of political threats, and to prevent or reduce bad outcomes. Other groups might also be important to you. Get involved. Go to meetings. Let your voice be heard. Contribute time and money.
Finally - Go with the Plan:
Go into action once you have identified a target market and the Six P's to tackle it.
You will have a clear idea what services to offer, how to sell them, and where to reach your most profitable customers. You will avoid costly direct competition and will know exactly how to stand out in the crowd. You pick the crowd, remember?
Then, work on defining another good target market segment, and how you will serve it too.
Return to Part Two of: Target Marketing - The Six P's of Marketing.
This article originally appeared in the Professional Guide,
the official magazine of the Maine Professional Guides Association
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