The Fastest Way To Grow Your Business
Often I am asked the question … ‘What is the one single fastest way to grow my business?’ Its a great question to ask. My answer is always the same …
Identify Your Target Market Where They Exist As A
Group & Market To The Group!
The mistake many small business owners make is that their marketing is one-on-one. They are busy trying to attract new clients one by one by one. This is too time consuming and slow.
You see this often in social media sites like Facebook where a small business owner spends hours each day attempting to market their product or services there only to discover that their target market are not readily identifiable as a group.
It is a lot more profitable to identify your target market where they already exist as a group and implement one-to-many marketing strategies to that group. Naturally you first need to be really clear on WHO your target market is which is why we spend so much time on this in our Attraction Marketing System. Once you are clear on WHO specifically they are it then becomes easy and obvious to identify WHERE to find them as a group.
The choice of media to use to communicate your marketing message needs to be carefully considered. For eg if you are a Financial Planner and your target market are retirees in the 55 to 65 age group then Social Media is going to be less effective than if your target market is say Internet Marketers.
Once you know WHO you want to market to then you need to idendify every possible source of WHERE you can reach them as a group. Here are 15 questions to ask yourself to make this easier …
1/ Who is already marketing to this same group effectively and therefore has an existing client list?
2/ Which Associations does your target market belong to?
3/ What does your target market read on a regular basis? ie Magazines, Newspapers etc
4/ What BLOGS are there online that reaches your target market?
5/ Where does your target market live if geography is important?
6/ What seminars, trainings or events does your target market attend?
7/ Who else is trying to market to the same group that you could do a joint venture with?
8/ Where does your target market network on a consistent basis?
9/ What online communities or forums does your target market particiapte in?
10/ What radio programs or tv programs does your target market tune into?
11/ What trade shows or exhibitions does your target market attend?
12/ What industry groups does your target market belong to?
13/ Where can you source a mailing list of your target market?
14/ What sporting clubs or other personal activities does your target market have a preference for?
15/ What social media sites are engaging your target market on mass?
BONUS Question … Do you have a list of past clients that you have not kept in contact with?
Here is what I suggest you do. Set aside an hour or two and really research each of these 15 questions and write lists of answers to each. This will then give you a guide as to where to place all of your marketing attention in the coming year. The choice of media to use will be obvious once you identify where the group is.
You want to make sure that you really do some in depth research in answering these questions. Do not just skim through this exercise as you will not gain any benefit from it. By developing a large list of places your target market already gather together in groups though will put you in a position of power to effectively market your business.
For example in the case of the financial planner looking to target retirees between 55 to 65 he might answer question 14 with the following:
- Golf Club
- Bowling Club
- Local Church Group
Now if you want to market to the members of these clubs and groups because that is where your target market is then the choice of media will probably be either placing an ad in their monthly newsletter, or being an active member yourself of these groups, or both.
One question that I sometimes get is … ‘Well what if I can’t find my target market as a group?’.
My response to this is if you can not find your target market already gathered together as a group then it may not be the right target market for you, or it may not be profitable to market to them. So in this case you may want to rethink your target market.
So this is the fastest way to market and grow your business … identify where your target market already exists as a group and then market one-to-many to those groups. Invest the time this week and work through these questions … you will be amazed at what you come up with.
Do you have a Marketing System in place in your business?
The Attraction Marketing System is a comprehensive marketing system for small business. It takes you step by step through the process of developing a marketing system that attracts more clients than you can handle.
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