Thursday, 29 November 2012

Focus on your ideal customer and resist trying to market to everyone

You may argue that your product and service can be purchased by anyone, but if you want to make the most of your marketing resources in terms of money and time, then we suggest that you look to focus your activities on attracting your ideal customer. So why?
  • Your ideal customers usually make up most of your profits
  • Working with ideal customers is much more rewarding and enjoyable
  • You can concentrate your marketing efforts more efficiently
  • You can better understand the need and how you match your benefits
  • You will be able to better identify any expectation gap
  • You can easily adapt as you know your environment
So the best ways to identify your 'ideal customer' is:
  1. Customer profiling - review the trends of your top 20% of customers
  2. Segmentation - use demographics, classifications, life cycles, psychographics and contextual marketing to focus on your ideal prospect
  3. Market research - ask your ideal prospects, not your friends, some key questions such as what they expect, where they are buying now, why, and how often they buy.

Tuesday, 20 November 2012

Our 7 top tips to improve your sales meeting conversation rate

So you have invested in your marketing and created opportunities. These are our 7 top tips to ensure you convert more of those prospects to paying customers.

  1. Test different approaches with your prospects – what you say, wear, handout, offer or even the time you meet may influence your success
  2. Be honest with yourself. Review your discussions & know why you are not converting
  3. Know your market and demonstrate your awareness
  4. Remove the risk to the buyer such as giving a guarantee
  5. Listen to your prospect & match their need with your benefits. Consider the pain for the prospect by not buying from you, or the gain they would experience
  6. How clear is your Unique Selling Point to the buyer. Not just in terms of the message, but how is it important to your propect
  7. Know the influencers of your prospects decision, such as their partner, advisers, employees, existing supplier and online references.
www.startyourownbusinessdvd.co.uk

Monday, 12 November 2012

Creating and building trust

How often do you hear the phrase 'people buy from people'. When we completed a research project into why people do buy from people, then 'trust' was the most important factor required before a buyer decides to buy from you or not.
Trust is much deeper than a gut feeling of whether you will be ripped off or not, so what can we do to make ourselves more trustworthy with our prospective customers?

Deliver on your promises - perhaps obvious, but it is where so many fail
Remove the risk - offer a guarantee and show your belief in your product or service

Position yourself with authority, expertise and recognition
Have proof of delivery such as testimonials, articles, awards and case studies
Tone down the selling but still solve the problem

Tuesday, 6 November 2012

Mike Foster to speak again at this years ICB conference in London

I am delighted that I will again be speaking at the conference of the Institute of Certified Bookkeepers. I will be speaking at the Savoy Place venue in London tomorrow, on the subject of growing a business.

Friday, 2 November 2012

The value to your organisation of different behaviourial styles

We enjoy working with Thomas International as an accredited provider of the personality and behavioural analysis reports, using D.I.S.C. profiling.
So what value to your organisation does someone who has a High D, I, S or C profile provide?
Please read more from our recent blog to discover the value to an organisation of someone who has a high dominant factor of:

D - Drive
I - Influence
S - Steadiness
C - Compliance

www.entrepreneursmentor.co.uk