Getting Burned By Not Understanding Your Target Prospect!!

rontowns25 — Mon, 30 Jun 2008 16:06:02 GMT

If you do not unerstand how your client thinks, what they are looking for, and their motivations, you will get absolutely burned in your business venture. The single biggest problem small business owners deal with is that they don't take the necessary time to really understand their target customer. Here are things you MUST KNOW:

Wants vs. Needs - Why They Buy

Attracting your ideal
clients through marketing requires you to discover the specific wants and needs
of these clients. These wants and needs are often referred to as "hot buttons."
Keep in mind that there is a big difference between wants and needs. They may
sound similar, but they're as different as day and night.

A need is something you have
to have. A want is something you would like to have. You need a new car but may
be broke at the time. Therefore, you don't want a new car, because you feel you
can't afford it. On the other hand, if you want a new car, you will probably
find a way to get it, even though you may not need it. Wants are much more
powerful than needs. Therefore, your marketing message should focus on your
ideal clients' wants.

Hot Buttons - What They Want

Hot buttons are the
problems, frustrations and concerns that most clients consider when they do
business with companies. Many business owners feel that price is always the
number one hot button that impacts their clients. In reality, price is one of
their last considerations. Most clients are more than willing to pay a higher price
if you offer enough value to warrant the higher price.

Unfortunately, most
marketing and advertising looks exactly the same. Everyone uses the same old
phrases and platitudes such as, "We're the fastest, we're the best, we have the
lowest price, we do excellent work," and so on. And since everyone says this, your
clients don't believe any of it. If you market this way, as most businesses do,
your clients can't determine the true value you provide, so they default to
lowest price as a differentiator.

Whatever you do, don't fall for
this trap! If you can only compete on price, it's time for you to get
completely out of that business. It has become a no-win situation for you
because there will always be someone willing to undercut your price. Fortunately,
the idea that price is most important exists only in the mind of the business
owner. All you need to do is provide more value than your competition. When you
do, you can actually increase the price you charge for your product or service.

*Decision Makers, Influencers & Users - Who to
Target*

There's one more area that
needs careful consideration. In most business transactions, there's a decision
maker, an influencer, and a user. Here's a typical example for the service
industry. When ordering a pizza, the parents are the decision-makers, the kids
are influencers and they're all users. If you're in the pizza business and want
to sell more pizza, give the kids (influencers) candy for dessert when you
deliver the pizza. Then they will continue to influence the parents to order
your pizza.

This
example serves to highlight a critical point - that the end user of your
product or service may not be the only person involved in the buying process.
This is especially common in business-to-business transactions, where you may
find that there are influencers or decision makers that are not the user.

When
selling to another business, you will often find yourself dealing with
subordinates that require the approval of their bosses before making a
purchase. Knowing that in advance allows you to be prepared to market to - and
then train - these subordinates so they can "sell" your product or service for
you, since you won't have the opportunity to do it yourself.

Remember,
you'll need to take this information into consideration when you begin your marketing
program. Once you identify these three roles, you will actually notice a huge
difference in your numbers when you begin lead generation and lead conversion. Click here to see a library of tips. Check out the excerpts: www.readtheanswer.com/index.php?RTA=web2

Home: Message List - Getting Burned By Not Understanding Your Target Prospect!!

Getting Burned By Not Understanding Your Target Prospect!!