Making Money – Page 131 – TP Javeton WebNet

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Customer discovery

The headline to this article that Customers Are The Entrepreneurial Blueprint For Marketing Success is a rather obvious statement. However, it is being emphasized here to express the point that what is obvious or may seem routine is oftentimes the very thing that is neglected in entrepreneurships and businesses all over the world, and invariably leads to the failure of those businesses. Thus the question…

How well do you know your customers? a little introspection can get the ball rolling in you getting a pretty good idea of who your customers are and exactly what is the primary reason your they (customers and/or clients) come to your website, product page or – if your business is offline – your business establishment? What is the primary reason your customers purchase your product or service? What is the Number One problem you solve for them? Do you know? Are you certain? If you don’t know or are not certain, your marketing could be missing the mark, and you could be missing out on sales.

Uncovering Your “Key Selling Point”

This is the Single Marketing Message that is central in all of your communications about your business, product or service. You might say it is your Unique Sales Proposition. It can be difficult for small business owners to determine what their single marketing message or USP should be. Why? Because they are too close to their business; And, because they are viewing their business from their side of the desk, or counter as the case may be.

That having been said, how are you keeping your marketing customer-focused and dealing with the challenges it is most certain to present? And even if you, the forward thinking business owner have figured out how to meet such a challenge, have you considered looking at your business from our customers’ perspective? We both know it’s often easier said than done. It very easy to many business owners to get caught up in all the amazing features of our product or service and the reasons WE THINK our clients are attracted to or buying from us.

But sometimes our vantage point is clouded by our own perceptions and beliefs. And those perceptions and beliefs may be inaccurate. So how do you pinpoint the real reason customers are attracted to your product or service and the true reasons they are choosing to buy?

The easy way to stay on track

Very simply, YOU ASK THEM! Okay, I know it seems obvious, but you’d be surprised how often we don’t think of the obvious, a sentiment expressed earlier in this post. Your prospects and customers (and yes, even your non-buyers) can provide great insights about the benefits they value most in your product or service and why they chose to buy, or not buy, in the case of the non-buyers.

Let’s get straight to a very integral part of every entrepreneur’s duty – yes, I said duty – which will bring things more into focus: Research! You don’t have to have a large customer or prospect base to do some research and see if you are on track; because even if you only have a handful of clients or customers, you could contact them and ask them what they like most about your product or service.

Talk to your Clients or Customers

What is the one thing that got them to purchase?
Have you delivered on that promise?
What do they like least about your product or service?
How could you improve your product or service?
What else (in your business category) do they have a need for?
How else could you help them be successful, be happier, or solve whatever problem your product or service solves for them?

Talk to & survey your non-buyers (This have been done very successfully by a number of eCommerce companies) – find out why they DIDN’T buy.

Ask them what product or service they bought instead of yours? And why?
Ask them what that competing product or service offered that yours did not?
Ask if there is anything you could do to get their business in the future? Product or service changes, additions, deletions?

Talk to your Prospects

Do you have a list of prospects – those who have expressed an interest in your product or service but have not yet purchased? Perhaps they have subscribed to your newsletter or ezine.

Ask them for feedback on your newsletter or ezine content.
What topics are they interested in learning more about?
How can you help them to be more successful, happier, etc?
Find out what they want and who they are.

And in all three cases — Clients/Customers, Rejecters, and Prospects — if it seems appropriate, ask for a little information about who they are. Age, gender, profession, where they live, how much they typically spend in your product or service category.

This will help you get a better understanding of your target audience and you’ll know if you are attracting the kind of people you thought would be interested in your product or service. And if you need to change your marketing strategy to reach a different audience, or to perhaps change your target audience, doing so will help you better serve them.

The more you can learn about your prospects and customers the better you can serve them. And the more effectively you can market to them. You may be in for a surprise, but customers and prospects will tell you why they are buying from you or not buying, if they are asked. What you hear surprise you.

Very often what you hear can help you zero-in on a Unique Selling Proposition that you never thought of. And because it came from the mouths of your customers you know it is compelling and effective, but don’t change everything based on a few opinions.

My only caution is if you only have a handful of customers or prospects to survey, don’t make any major changes or decisions until you are able to validate your findings among a larger group of people… Or at least test any changes you do make before making a final decision to overhaul your entire business or marketing plan. Common sense is the rule here. Just use your own good judgment and don’t over-react to comments made by only a handful of people.

Don’t be afraid to ASK

There are any number of ways to collect research from your prospects and customers. You can telephone them, email them, mail them a written questionnaire, or you can meet with them in a group (called a focus group) to collect their opinions. You can be as formal or informal as is comfortable for you, while also making them as comfortable as you possibly can. Typically the larger number of clients you survey, the more formal the survey. If you have only a handful of people to talk to, simply pick up the phone and call them.

Don’t be afraid to ask for opinions on your products or services or how you can serve your clients better. What you find out could be extremely valuable in helping you to build and grow your business; And…

Don’t forget to say the magical word(s): “Thanks” or “Thank you”, as the case may be.

You will also want to consider offering an incentive to encourage your prospects and clients to participate or respond. A bonus, such as a special report, or a discount on a future purchase is a nice way to show your appreciation for them taking the time to respond to your survey.

Read more about the entrepreneurial experience and business-related topics take a look at some of the following articles published right on this website:

Digital & Electronic Products – Unbeatable in Quality and Price!

Methods

There are three basic ways of earning money which include trading time for money, trading money for money and trading expertise and/or value for money.

Society and the formal education system promote the first method of earning money which involves trading time for money. In other words, you work for someone else for a specific amount of time and then they pay you. Working for someone else drains your energy and you don’t make much money.

The second way to earn money is utilized by a small portion of the population and involves trading money for money. In other words, you are earning money through investing. Investing can be risky because if you lack know-how and reserve funds then it’s probably not wise to invest money in the first place. Therefore, many people can’t even try this option because they only have enough money to pay their bills.

The third way to earn money is the best option. This is the entrepreneurial option which involves trading expertise/value for money. This is the strategy utilized by entrepreneurial experts. You have a flexible schedule, work less, and earn more once you invest enough time upfront to set up your entrepreneurship. You can make thousands of dollars a day with this option.

Image and branding

In order to earn money through trading expertise/value for money you need to first figure out who you are as an entrepreneur and what you can give to others. What information do you have that could help others? You can find value from previous work experience or even from your hobbies. From this you can create your intellectual property.

What is Intellectual property? How big is the market for Intellectual property? Is there room for you in the Intellectual property market? These may be a few of the questions you may have when you are researching the information marketing business.

First of all, anyone can create intellectual property. You don’t need to be a philosopher, doctor or lawyer. Heck you don’t even need to be a college graduate. You just need to have an area or expertise, or access to an expert, and a drive to succeed.

Intellectual property combines eCommerce and book publishing. For example, you can write and sell an eBook on the Web via your own website or through an affiliate program that you set up. Recent research has found that approximately 6 out of every 10 American adults surf the Web on a daily basis seeking out entertainment and education, as well as to shop for products.

Plus a lot has changed from the early days of the Internet. One such change is the confidence with which people use the Web. They are more comfortable buying online today than in the past. The market accessed through the Web is global and encompasses millions of people, so you can be comfortable in knowing that the information marketing business has room for everyone!

Entrepreneurial spirit

When you market on the Web, you market to your niche. Therefore, you don’t have to worry whether or not your neighbor will want to buy your product. The Web opens many niche markets for you.

If creating and selling intellectual property on the Internet is so simple, why isn’t everyone doing this? The simple answer is that formal educational systems and previous societal beliefs are at fault. In our youth, we are taught to finish school and then “find a good job” which translates to become an employee at a company. The entrepreneurial spirit is not promoted; in fact it is almost shunned.

Don’t let societal beliefs stop you from pursuing your goals. The intellectual property market is wide, diverse, and ready to fill your bank account, if you are ready to meet the challenge of entrepreneurship, work hard and pursue your goals diligently.