This Is Why Choosing Your Target Audience Correctly Is So Potentially Profitable!
Okay, so even though you may think, you’ve properly chosen, your ideal target audience. What were or have the results been, for your last three, paid ad campaigns? Exactly. It still feels like you definitely need to dial things in just a bit more, correct? Well, don’t feel too bad. Because rest assured.
There are literally tons and tons of aspiring entrepreneurs. In your exact same or even worst position.Say what? Seriously. They think or initially thought. They had totally nailed their ideal target audience.
However, their overall, rather dismal results, has proved them wrong once again. On the other hand. Are you or your major competitors, up for discovering how, once you truly have pin pointed your ideal target audience. You can leverage this process to the hilt and slightly beyond? Great. Buckle up and hang on.
So What Are You Currently Doing To Maximize The Overall Value Of Your Ideal Target Audience?
Case in point. Let’s start with a rather basic, (hypothetical) marketing example and steadily build, long term value from there. Okay? Thanks.
So let’s take two (offline), non directly competing vendors. Translated: Aspiring entrepreneurs. And because they’re going to form, some type o mutually beneficial (JV) Joint Venture/cross promotional relationship.
Because remember. As of right now. They both, already currently have various resources, assets and contacts, the other doesn’t. Right? No doubt.
So think about the long term, potential growth, both can possibly experience.Once or after they start strategically and systematically combining, their current and future resources on the regular.
So here’s the two hypothetical players. Of course there’s your, extremely popular, single location retail jewelry. And two commercial spaces down, located in the exact same mini strip mall.
Is the owner of an incredibly popular, women-s deluxe facial treatment center. And you ladies, definitely already know, the types of incredibly popular treatments and skin and facial moisturizers, services like this provide.Right?
This being said. Their service, just like your retail jewelry business, needs, both new and ongoing repeat purchases, from your current active and inactive customer base.
So one day, while speaking with the salon owner. You finally ask the “magic’ question.Huh? Which is. “Is it okay to periodically refer your new customers or clients? And by the same token.
As long as it doesn’t interfere, with anything you currently having going on. Both now and in the future.Are you okay with periodically doing the same?” (Extremely Important note.) As long as you ask the ‘magic” question, to anyone, (especially, current or future vendors), you already have some sort of established relationship with.)
A staggering 95-98% of the time. You will get an emphatic yes. And likewise. If you get a yes on the front. 95-98% of the time. You’ll also get a yes on the back end. Which means (entrepreneur), the pendulum of potential opportunity. Just swung wide open.
Don’t Being An Island And Start Developing Some Potentially Profitable Joint Venture Or Cross Promotional Partners!
So let’s say. For whatever reasons. The owner(s) of the women-s, deluxe facial treatment salon. Currently, don’t have any realistic idea. What the current, total lifetime customer value metrics, of their ideal target audience is.
So you help them quickly run their averages. And now, the both of yo can strategically take this knowledge. Which sadly. A staggering 75-90% of aspirin entrepreneurs. Literally have no realistic clue about. And use to systematically take both of your businesses.
To the very next level or two. Huh? Here’s how. Going forward. You simply have no more interest, in wasting, $25,000 dollars a month. (Or more!) On those outrageously expensive, dismally performing. Local billboard ads.
After all. Just last year alone. You invested in 12 month’s worth of those mega cash drainers. And have very little positive, bankable results to show, for your $300,000 dollar investment. Correct? ($25,000 dollars per month, x 12 months, equals a total annual investment of $300,000 dollars. Ouch!)
So instead. You initially propose the following.
Make Sure You Develop A Reliable And Sustainable Back End To Your Business Or Service!
Remember. going in. You have at least three primary goals.
1.) You want to continuously create, as many new, first time customers as possible. For as little as possible, right?
2.) You want to create as many repeat customers as you can. Using powerful, word of mouth and mouse buzz, as you can.Both on and off of social media. For as little as possible.
3.) And you want to continuously, strategically leverage, as many other, non directly competing vendors, assets and resources and contacts as you possibly can! Agreed? Absolutely.
This being the case. Here’s one of the very first investments and commitments you make. You allow the female salon owner, to pick out any pair, of diamond studded earrings, which normally retail for at least $650 dollars. Say what?
And let her have them at your actual hard cost of $$300 dollars or X. say what? holding on. Next. Let’s say there are a total of seven chairs, including the owners. So you also allow, all six female staffers. To purchase any one pair, of beautiful diamond studded earrings. Which normally retail for at least $450 dollars a pair.
Start With The Rather Obvious And Simply Keep Building From There!
As long as they at list initially join, your opt in email/mobile marketing list. They get to purchase those extremely eye catching earrings, for just $200 dollars or whatever your actual hard cost are.
This way, both before, during and after they service their clientele. the subject of their great looking bling, is bound to come up. And often. Don’t you agree?
Plus keep in mine. You know these ladies will constantly be sharing their extreme good fortune with. Take your pick. Their closest neighbors, sister(s), sister in law(s), brother(s) wive(s) or brother(s), live in significant others, co-workers, BFF, ex- female co-workers.
and that’s the other thing. Going forward. Any new female staffers, who are employed by the salon. They automatically get the same deal.It’s best to work off the math. Every local female, knows at least 25 other local female. And on average. About 30% of them or more.
Are your ideal target audience prospects. Are you starting to smell, the long term, low hanging fruit, previously untapped marketing opportunities? Good answer.
All Potential Opportunity Can Do Is Knock! (Ultimately It’s Up To You To Respond!)
P.S.Now as is customary during this part of our show.Please share your extremely valuable comments (in the comments section below)
that you can apply to your business,product or service in the next 30 days or less!
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