DEFINITION OF MARKETING
“IT’S TARGETING A CUSTOMER GROUP THAT’S BIG ENOUGH TO SUPPORT YOUR BUSINESS GOALS AND THEN DEVELOPING CUSTOMER TRUST AND LOYALTY.”That’s a great definition, but there are several questions:
- How do you get in front of your target market?
- How do you develop customer trust and loyalty?
- There is some preparation required before we answer these two questions.
-
- Have you identified the needs of your target market?
- Have you validated those needs?
- You have completed the foundation of the Vision Based Business Plan (Your Vision, your Why your Story and your Value Proposition.)
Unless you can answer YES to these questions and have the documentation to back up that YES (other than your own opinion), it is virtually impossible to complete your Vision Based Business Plan. If you have not obtained that documentation, call BizQuack for an appointment to find out ways of identifying and validating your target market.
Once you have successfully identified your target market, the questions are: how to get in front of your target market and how to develop trust and loyalty. The answers differ greatly, depending upon the product/service that you are offering. Time permitting, one on one meetings are very powerful. You can listen to a story and then share your own well-crafted story. This is a good example where a well maintained data base can help you obtain these appointments. Belonging to groups that are primarily composed of your target market is another way to set up one-on-one appointments.
Other ways include speaking at an industry meeting of your target market, offering education sessions or creating a “value group” for your target market. These are but a few suggestions; let me know if you want to set up a small group workshop on this subject.
Trust must be earned and deserved. That means that you have to do something to give your target market the evidence on which they can base their decision on whether to trust you. Most frequently that requires your willingness to give in order to get. First and foremost you must be knowledgeable about your product/service and the benefits. Trust does not happen without work or without effort. At its core, trust is about relationships. If your target market trusts you, they can believe you will do what you say you will do, that your actions will match your words.
If a small group is interested in a session on trust building, let me know and we will schedule it. Perhaps we can combine it with a session on creating value.
—————————————————————————————————
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
Comments are closed
