Does your business really matter to your customers?:
It’s a simple question but the answer to that question can really be the key to understanding why your business is or isn’t growing! We know, whatever industry you are in:
There are lots of competitors
It’s hard to find businesses who care about what you offer
It’s difficult to figure out what price to charge those customers who care
It’s really tough to talk about your business in a way that potential customers actually know they need you
There is so much noise to cut through
Facebook ads are more expensive than ever
PR is harder to come by than ever before
And so on…and so on…and so on…
None of that is going to change. You are going to get more competitors every day. Those competitors are going to copy your best ideas faster and faster. Paid marketing efforts are going to get more expensive rather than less. So…here is something we have learned…
The more you matter to your customers, the more you are going to be able to grow and protect yourself from competition. If you matter to your customers, they are going to keep paying you and probably will start paying you even more.
If you matter to your customers, you are going to be able to get them to talk glowingly about your business and you can use those endorsements to get more customers.
If you matter to your customers, then their competitors will look at what they are doing…notice that they are your customer…and then also want to become your customer.
So, with a limited amount of time and a limited budget, how do you matter more to your customers?
Well, it’s not easy, but here are a few tips:
Step One: Be really specific which customers for which you matter the most?
Figure out the markets those customers are in. What industry are they in? What geography are they in? How big are they?
Step Two: Super-serve those customers.
Once you know which customers you matter the most to, build features and services that make you matter the most to those customers.
Create specific marketing and sales collateral for those markets and customers. Talk to their needs and be specific. Use case studies. Speak their language (literally and figuratively).
Step Four: Build critical mass in those markets.
It’s easier to grow if you matter a lot to a very specific and defined market than matter very little to a broad and undefined market. Then, make companies in that market feel like they are missing out because everybody else in that market are using your products or services.
Step Five: Once you build critical mass in a small number of small and really well defined markets, then go broad.
Want some examples? How about Klaviyo owning the Shopify e-commerce market for email rather than trying to initially target anybody who uses email marketing?
Or, Gym Shark super serving fitness fanatics rather than also trying to make basketball and soccer gear?
Or, Brex focusing on credit cards for start-ups instead of trying to go after any and all businesses?
So, what are the markets in which you can be a company that really matters? How can you talk to those markets in their language? How can you build your marketing to show that a bunch of other people in those markets are your customers and so others in those markets feel like they are missing out?
Just start thinking, have a plan and start growing your business!
All the best...
By the way, if you are interested, here are some Great Growth Deals to grab while they are hot!
Want more? Check out this Tool Box to see if there are any tools that would work well for your marketing and business to boost outcomes! and thanks to Grant Bostrom of Dealify for the content of this post.
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