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7 Secrets To Attract Your Perfect Customer

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Jesse Stoddard
Jesse Stoddard

The Little-Known Target Marketing Techniques That The Richest Entrepreneurs Hope Their Competitors Never Discover https://jessestoddard.com/7-secrets-to-attract-your-perfect-customer/

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7 Secrets To Attract Your Perfect Customer The Little-Known Target Marketing Techniques That The Richest Entrepreneurs Hope Their Competitors Never Discover
The Problem • You need more customers or clients so that you can generate more revenue • …But the leads you do get seem to be the wrong people who cause problems and haggle • …Leading to low sales, depressed revenue, and soul-sucking customer service headaches.
• Heck, you might just be happy with any leads at all during slower times of the year to avoid the constant “feast and famine” roller coaster. • In fact, according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.
• This is always due to lack of sales, which is usually due to lack of understanding of and communication with the right customers. • …And the most damaging factor that the majority of entrepreneurs are guilty of is no, or very poor market identification.
• If you are like most entrepreneurs, you’ve noticed that every advertising media sales person seems to be able to smell when things are slow for you • …and that is exactly when they pounce on you with the “latest and greatest” advertising opportunity that will be a magic bullet for your lead generation.
• That’s because most entrepreneurs do random acts of advertising just trying to hit targets in the dark. • But a recent Marketing Land survey showed Marketers are clueless when it comes to ROI
• This means that most advertising (online or offline) makes little or no contribution to overall profits. • Those that are making headway are either having to rely heavily on only repeat business and referrals, or are simply overspending in advertising in order to compensate for poor results.
The Opportunity • But despite these setbacks, some entrepreneurs are seeing record-setting top-line revenue and bottom-line profit growth year after year.
• In the fitness industry, I was working with a gym owner who was struggling to make ends meet. • He was trying to be everything to everybody and at the lowest price to try to keep up with the “globo-gym” in his area. • He was failing miserably because he ended up in a price war he could never maintain, and nobody could see the difference between what he offered and what the competition had. • He was on the verge of closing his doors. He was making $15 per hour at best before expenses and taxes.
• After exploring his core competencies and what he was passionate about, what the market perceived as his strengths, and what his local market was demanding, we made some huge discoveries. • It turns out he was very passionate about a particular line of work that was associated with one sub-culture of his market. • He always did best and made the most money (ROI) when he trained groups of high school athletes with parents that had a history of supporting athletics financially.
• So we redefined his market and matched his offer to that market with Speed and Agility Camps and Group Athlete Training, much like an Olympic level athlete has a coach and multiple players. • His market loved it, he got out of the nickel-and- dime laundromat gym system and got into a highly profitable business. He went from $15 per hour to $300+ per hour. There are riches in niches.
• A retrofit construction business I was working with was suffering from terribly high Google PPC costs for any of the key words they were after. • Although they had been the first to market in their industry, they had many competitors that had gradually moved into the market and copied everything they did. • It was coming to the point of huge frustration and ended up putting them at danger of commoditization and price war with the copycat companies.
• It was costing them millions of dollars in lost sales per year. • After doing a little research, we discover that a huge part of their business was coming from a certain type of referral source: Real Estate Brokers. • They weren’t paying attention to them or even trying to get them! They had never put thought into designing campaigns around them.
• We began actually marketing to them and creating a system of orchestrating referrals and fostering long-term relationships. • The business had to think “B to B” instead of just “B to C” • Sometimes you have to look at the opportunities that are right under your nose, and the best way is to define (or redefine your best target markets)
• What would your business look like if you actually found the perfect target market and could reach them with your well-crafted message in the right way at the right time? • What would your business look like if you could find underserved sub-cultures, subsets, and mirco-niches or market segments that your competitors don’t even know exist? • How would it affect your price, your position, and your bottom line?
7 Secrets To Attract Your Perfect Customer • Secret #1: Study actual evidence and imagine your existing perfect client • Secret #2: Segment into Sub-Niche or Sub-Culture • Secret #3: Demographics (and Geographics) • Secret #4: Psychographics • Secret #5: Test Assumptions with Surveys, Quizzes, Focus Groups, or Just Ask • Secret #6: Build the Profile of the Perfect Customer Avatar • Secret #7: Schedule Periodic Assessments
Secret #1: Study actual evidence and imagine your existing perfect client • You MUST learn about your customer (build it an they might not come) • Existing customer list! Study, Interview, “Hang Out”, “Walk the halls” • Who are your favorites and WHY? • Google, IBIS World Market Research Reports, ASK method quizzes, surveys, focus groups
Secret #2: Segment into Sub-Niche or Sub-Culture • Segmentation leads to clarity and profitability • Niches are like business categories • Cultures are like affinities and interests • Identify Key Differences and Similarities • Allows you to further define different targets
Secret #3: Demographics (and Geographics) • Age • Gender • Marital Status • Occupation • Income, Net Worth, Assets, Revenue • Location • Spending Habits
Secret #4: Psychographics • What they like, don’t like, how they think and feel! Affinity… • People/Causes/Companies/Movements they “follow” in social media • Subscriptions (online and offline) • Pain points, goals, dreams, fears
Secret #5: Test Assumptions with Surveys, Quizzes, Focus Groups, or Just Ask • Test what you think you know, because you never know what you don’t know. • Split test offers. • Do not just rely on the online survey options. • Get on the phone! • The true test of all is if they buy. What is the bottom line of your assumption?
Secret #6: Build the Profile of the Perfect Customer Avatar • Gather enough research to picture the clearly as if you were trying to write their biography. • Create a composite of all of their traits and then pick the best of all options to create the profile. • Put yourself in THEIR shoes. “Think reader first”. Would YOU buy from you? • Name them. • Write their “story”.
Secret #7: Schedule Periodic Assessments • This will inevitably change. You must reassess. • People change, situations change, markets change. • Once per year at a MINIMUM. • Better if you do this quarterly. • Select one target market at a time to go after, and one to assess, and look for one new one or sub- market to target for next quarter.
What’s Next? • What do you think your business would look like if you actually did all this stuff? • Would you like to find out?

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7 Secrets To Attract Your Perfect Customer

  • 1. 7 Secrets To Attract Your Perfect Customer The Little-Known Target Marketing Techniques That The Richest Entrepreneurs Hope Their Competitors Never Discover
  • 2. The Problem • You need more customers or clients so that you can generate more revenue • …But the leads you do get seem to be the wrong people who cause problems and haggle • …Leading to low sales, depressed revenue, and soul-sucking customer service headaches.
  • 3. • Heck, you might just be happy with any leads at all during slower times of the year to avoid the constant “feast and famine” roller coaster. • In fact, according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.
  • 4. • This is always due to lack of sales, which is usually due to lack of understanding of and communication with the right customers. • …And the most damaging factor that the majority of entrepreneurs are guilty of is no, or very poor market identification.
  • 5. • If you are like most entrepreneurs, you’ve noticed that every advertising media sales person seems to be able to smell when things are slow for you • …and that is exactly when they pounce on you with the “latest and greatest” advertising opportunity that will be a magic bullet for your lead generation.
  • 6. • That’s because most entrepreneurs do random acts of advertising just trying to hit targets in the dark. • But a recent Marketing Land survey showed Marketers are clueless when it comes to ROI
  • 7. • This means that most advertising (online or offline) makes little or no contribution to overall profits. • Those that are making headway are either having to rely heavily on only repeat business and referrals, or are simply overspending in advertising in order to compensate for poor results.
  • 8. The Opportunity • But despite these setbacks, some entrepreneurs are seeing record-setting top-line revenue and bottom-line profit growth year after year.
  • 9. • In the fitness industry, I was working with a gym owner who was struggling to make ends meet. • He was trying to be everything to everybody and at the lowest price to try to keep up with the “globo-gym” in his area. • He was failing miserably because he ended up in a price war he could never maintain, and nobody could see the difference between what he offered and what the competition had. • He was on the verge of closing his doors. He was making $15 per hour at best before expenses and taxes.
  • 10. • After exploring his core competencies and what he was passionate about, what the market perceived as his strengths, and what his local market was demanding, we made some huge discoveries. • It turns out he was very passionate about a particular line of work that was associated with one sub-culture of his market. • He always did best and made the most money (ROI) when he trained groups of high school athletes with parents that had a history of supporting athletics financially.
  • 11. • So we redefined his market and matched his offer to that market with Speed and Agility Camps and Group Athlete Training, much like an Olympic level athlete has a coach and multiple players. • His market loved it, he got out of the nickel-and- dime laundromat gym system and got into a highly profitable business. He went from $15 per hour to $300+ per hour. There are riches in niches.
  • 12. • A retrofit construction business I was working with was suffering from terribly high Google PPC costs for any of the key words they were after. • Although they had been the first to market in their industry, they had many competitors that had gradually moved into the market and copied everything they did. • It was coming to the point of huge frustration and ended up putting them at danger of commoditization and price war with the copycat companies.
  • 13. • It was costing them millions of dollars in lost sales per year. • After doing a little research, we discover that a huge part of their business was coming from a certain type of referral source: Real Estate Brokers. • They weren’t paying attention to them or even trying to get them! They had never put thought into designing campaigns around them.
  • 14. • We began actually marketing to them and creating a system of orchestrating referrals and fostering long-term relationships. • The business had to think “B to B” instead of just “B to C” • Sometimes you have to look at the opportunities that are right under your nose, and the best way is to define (or redefine your best target markets)
  • 15. • What would your business look like if you actually found the perfect target market and could reach them with your well-crafted message in the right way at the right time? • What would your business look like if you could find underserved sub-cultures, subsets, and mirco-niches or market segments that your competitors don’t even know exist? • How would it affect your price, your position, and your bottom line?
  • 16. 7 Secrets To Attract Your Perfect Customer • Secret #1: Study actual evidence and imagine your existing perfect client • Secret #2: Segment into Sub-Niche or Sub-Culture • Secret #3: Demographics (and Geographics) • Secret #4: Psychographics • Secret #5: Test Assumptions with Surveys, Quizzes, Focus Groups, or Just Ask • Secret #6: Build the Profile of the Perfect Customer Avatar • Secret #7: Schedule Periodic Assessments
  • 17. Secret #1: Study actual evidence and imagine your existing perfect client • You MUST learn about your customer (build it an they might not come) • Existing customer list! Study, Interview, “Hang Out”, “Walk the halls” • Who are your favorites and WHY? • Google, IBIS World Market Research Reports, ASK method quizzes, surveys, focus groups
  • 18. Secret #2: Segment into Sub-Niche or Sub-Culture • Segmentation leads to clarity and profitability • Niches are like business categories • Cultures are like affinities and interests • Identify Key Differences and Similarities • Allows you to further define different targets
  • 19. Secret #3: Demographics (and Geographics) • Age • Gender • Marital Status • Occupation • Income, Net Worth, Assets, Revenue • Location • Spending Habits
  • 20. Secret #4: Psychographics • What they like, don’t like, how they think and feel! Affinity… • People/Causes/Companies/Movements they “follow” in social media • Subscriptions (online and offline) • Pain points, goals, dreams, fears
  • 21. Secret #5: Test Assumptions with Surveys, Quizzes, Focus Groups, or Just Ask • Test what you think you know, because you never know what you don’t know. • Split test offers. • Do not just rely on the online survey options. • Get on the phone! • The true test of all is if they buy. What is the bottom line of your assumption?
  • 22. Secret #6: Build the Profile of the Perfect Customer Avatar • Gather enough research to picture the clearly as if you were trying to write their biography. • Create a composite of all of their traits and then pick the best of all options to create the profile. • Put yourself in THEIR shoes. “Think reader first”. Would YOU buy from you? • Name them. • Write their “story”.
  • 23. Secret #7: Schedule Periodic Assessments • This will inevitably change. You must reassess. • People change, situations change, markets change. • Once per year at a MINIMUM. • Better if you do this quarterly. • Select one target market at a time to go after, and one to assess, and look for one new one or sub- market to target for next quarter.
  • 24. What’s Next? • What do you think your business would look like if you actually did all this stuff? • Would you like to find out?