Are You Wasting Your Marketing Dollars?

So many entrepreneurs I work with are stunned when I help them discover how they waste most of their marketing funds. The question that baffles the best and brightest is…..

“Describe in detail who you are trying to sell to.”

What often follows is a hesitant, one-size-fits-all depiction of a broad spectrum of potential markets. This is a common misstep, and I’m here to explain why.

The secret sauce of marketing is for the CEO/Owner to clearly define, in agonizing detail, EXACTLY who is in the market’s sweet spot. This shouldn’t be a generic “we sell to everyone” but a clear, highly granular description of the suspects.  You must decide and describe who is in the center of your bullseye, as this is the cornerstone of your marketing strategy.

Include their demographics, their geography, their buying attributes, what they are like, what they look like, what they drive, how they vote, what they wear, what their politics are, what their interests are, what media they read, what they like to buy online, what is aspirational to them, where they eat and what they eat, etc. When one of my clients says they have it all, they only have a third of what they need to describe.

If you want to get the most out of your marketing investment, it’s crucial to start with a world-class exhaustive analysis of who that target market is. This is where the real value lies, and it’s the key to maximizing your marketing investment.

The message and the call to action are less significant to the work you do here.

Trust me on this one. And by the way, an efficient way to save your marketing dollars is to hire a professional business coach to help you figure it out.

Coach Dave