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    0 Replies Latest reply on Jun 30, 2008 3:50 PM by rontowns25

    Getting Burned By Not Understanding Your Target Prospect!!

    rontowns25 Adventurer
      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

      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.

      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.

      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.

      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: