During the early days of a business, any paying customer is an ideal customer. The reality of trying to make payroll, gain experience and develop a reputation drives many entrepreneurs to accept any paying work that comes their way.
But pursuing and accepting work from any customer is a recipe for poor performance over the long run. There is power in focusing on your ideal customer only.
The upfront question to consider is – ‘does our current Marketing Strategy result in consistently reaching our ideal customer?’
A Clarified Marketing Strategy Helps You Understand and Develop Your Competencies
There’s power in a laser-sharp focus. It might seem counterintuitive to narrow down the number of your potential customers instead of going for a broad approach, but it’s beneficial in many ways. When you identify your ideal customer, it empowers your team to focus on your core competencies and live out of them as a business. In other words, as a business, you can do what you do best, which will be precisely what your ideal customer needs. Tell the world what you are best at, and then only serve those customers that need what your core competencies offer.
The Four Crucial Elements Of A Marketing Strategy
Clarifying a company’s Marketing Strategy in EOS® comes after clarifying Core Focus™ – the company’s purpose, cause or passion, and 10 Year Target™ – the big long energizing goal that motivates everyone to row in the same direction over the long run.
The four specific elements of Marketing Strategy in EOS® are:
- Target Market/“The List”: The demographic, geographic and psychographic profile of your ideal client. This level of specificity allows your marketing team to go out and create a list of ideal prospects to pursue.
- Three Uniques: What 3 factors, when combined, make your company unique from your competition?
- Proven Process: A condensed description and/or graphic representation of the journey you will take a prospect on if they become a customer
- Promise, Guarantee, or Commitment: Is there a fear that prospects have about signing on the dotted line? If you offered a promise, guarantee or commitment that addressed that fear, would you win more clients?
Avoid Being Distracted
Once you know who your ideal customers are, you won’t be spreading yourself thin anymore trying to please everyone. If a customer doesn’t fit with the perfect customer profile, just say “no.” Remember that you don’t have to take every opportunity that presents itself — only the ones where your company can deliver the most value. Drop those who aren’t a good fit. The odds are that you can’t keep them 100% happy anyway, precisely because they aren’t your ideal customers.
The Power Of Focus
Your employees will find it much easier to find and target the right prospects with outbound marketing once they know who are your ideal customers. The clear focus helps your marketing and sales teams collaborate more closely. When they start working in synergy to find your ideal customers and convert them, you’re bound to see results. Increased revenue, more sales and customers overall, higher customer satisfaction — those are some of the benefits you will see as a result of laser-sharp focus. And your delivery or production teams will have the competencies and experience to service that ideal customer.
The bottom line of focusing on your ideal customer is that it helps your business focus on what it does best, thereby attracting more ideal clients and work. In the long run your company will develop a reputation of being an expert in that field, which further propels attracting even more of the right kind of customer.
Visit navigatethejourney.com and schedule a call to discuss ways in which we help clients identify their ideal customer and operationalize how to consistently reach them
About The Author
Tom Barrett is a Professional EOS Implementer™ and the CEO of Navigate the Journey, a Nashville based firm that helps entrepreneurs get what they want from their business and life.