February 4, 2011
Are You in Front of the Right Customers?
Two professional poker players are talking about a fellow player and friend of theirs. One asks, “Player X is the 6th best 7-card stud player in the world. So why is he always broke?”
The other responds, “He only plays with the other top 5 players.”
Success in any venture boils down to who you surround yourself with. Player X could have dominated almost any 7-card stud game in the world, but instead he chose to play in Las Vegas with the 5 people who could regularly beat him.
Likewise, if you want to see professional success, you have to put yourself in front of the right kind of customers. If you just charge out there and start throwing money at advertising and marketing with no plan, you’re not going to see a positive ROI or a smile on your accountant’s face.
Sniper Rifle, Not Shotgun
Your marketing is a weapon; use it correctly or it’s worthless. You are a soldier in the marketing war and your mission is to “take out” that perfect customer.
You’re not going to get the job done by firing a shotgun randomly and hoping you hit something. You need to know your target inside and out, wait for them where they are most likely to be and fire your high powered marketing sniper rifle at the perfect time.
Knowing “The Right Customer”
It doesn’t matter if you’re selling nuclear powered submarines or hot dogs, you need to know who is most likely to buy your product. At the very least, you need to know your average customer’s:
- Average purchase (items, revenue, profit, etc)
- Income level
Look over your current client list and sales data to get this information. People that have bought from you before and people like them are more likely to buy from you again. Learn who this average customer is and put yourself in their shoes.
Be Waiting for Them
Do you know why most hunters stay in one place for hours at a time? They know they will have better luck achieving their goal if they just stay long enough at a place their prey frequents.
That needs to be you!
If you sell denture cream, why would you put an ad on Facebook? Yes, the social media juggernaut has 500 million+ active members, but how many of them want to buy your product?
It’s All About Timing
While Facebook has revolutionized advertising and marketing in many ways, it is deficient in one main area. When you log in, you’re there to connect with friends, look at pictures and be social. You’re not necessarily in a buying state of mind. While this problem can be addressed easily and effectively through the use of Fan Pages, that is beyond the scope of this post.
On the other hand, when I open Google and search for “best wetsuit reviews”, “wetsuit sale” or “free shipping wetsuit”, I am making my intentions very clear. I am in buying mode and am ready to pry open my wallet.
Trade shows, large sales events and even garage sales are all great examples of hitting a customer when they are already mentally prepared to buy. Whether it’s online or not, find out when your potential clients are more apt to buy things from you and be waiting for them.
Less Work, More Results
By implementing a marketing system like this, you will put yourself in the best possible position to sell to people who are most likely to buy your product. Follow Pareto’s 80/20 Rule and focus on the small percentage of your customers that bring in the most revenue and ditch that 80% that burns through your time, resources and patience.