Some describe marketing as a science. Others see it as an art. At its core, marketing is really psychology 101: understanding human behavior and patterns. In order to have an effective marketing plan, one must first have an intimate knowledge of his or her audience. Without knowing your audience, anticipating challenges & opportunities ahead, and rewarding loyal customers, you are not maximizing the full marketing potential of your business and could be missing some key blind spots. Don’t fret…below are 3 ways that you can check your marketing blind spots.
1) Communicate value to your target market.
Many of my clients share with me great ideas they have about their product and/or service and how they plan to get it in front of their market. However, they seem perplexed when I ask them the fundamental question, “who is your target audience?” When I ask this question, I mean the following:
- Do you know the demographics of your target market?
- Do you know what your audience likes? Does not like?
- Are you aware of your audience’s problems or “pain points”?
- Have you done a landscape of their needs?
- Do you understand where your market plays, eats, works, etc.?
- Which social media platform is popular for your target market?
To intimately know your audience puts you in a key position to know how to serve them best. In order to create value for your audience, you first have to know your audience. How can you give them what they need? Or, how can you help them to identify their needs if you do not know your target market. Creating value is all about ensuring that your target market has received something of meaning that you provided for them.
BONUS TIP: Aim to create value for your target market by saving them time, saving them money, or increasing their quality of life! If you can customize that value, even better!
2) Anticipate the next big thing.
In my experience working with entrepreneurs, I understand that there are various business models and philosophies. Businesses that understand industry trends, leverage their strengths, and are able to prepare for anticipated challenges or opportunities can prevent be blindsided. A client of mine once told me that they are focused on satisfying their current customers rather than engaging new ones. I suggested that they do a combination of both.
KEEP IN MIND: To have a sustainable business, one must anticipate the next big thing.
Being 3-5 steps ahead is the name of the game. Below are a few benefits of anticipating whats to come:
- Preparation for expansion and growth
- Assessing how to manage unintended consequences
- Being strategic about either cutting costs or increasing inventory
- Consider re-branding
- And the list goes on…
3) Leverage your base.
Be sure to create scenarios in which your loyal customers become your informal PR team and get rewarded for such. Many companies have customer loyalty programs or other means to ensure that good news travels fast. For example, one of my clients provides a discount to customers who tweet (or post to FB) about a positive experience. We all know that bad news seems to travel faster than good news. However, with some key strategies and business savvy, there are ways to do damage control while leveraging your base of loyal customers.
BONUS TIP: Reward “good behavior.” By rewarding customer loyalty, you are leveraging your base and growing your reach to potentially new markets.
Hope you found these tips to be helpful. What are ways that you check your marketing blind spots?