While there are some business owners who envision an idea, take it and go, even these CEOs will at some point need to strategically plan to move to the next level. Most business owners need to strategically plan to grow and thrive in their business. While the following points may seem simple and elementary, they are absolutely necessary so you have a strong foundation on which to grow.
1) Define your Target Market: You will be surprised how often I hear, “everyone needs my product or service so everyone is my ideal client.” I cannot tell you how that statement makes me cringe. Regardless of how great you feel your product or service is, not everyone will be your customer. If you take the time to define your target market, you can then impact positively:
- Your copy on your website and any marketing collateral.
- How you connect with potential clients on social media
- Where you put your money for advertising, marketing and PR
2) Define your Difference: You often see many businesses that do the exact same thing so how do you decide which is right for you? If the business has really studied their difference, you will immediately understand, feel and relate or not relate to this difference.
For example, let’s study real estate agents in South Florida. There seem to be a ton of them and many successful but how do you know which one is right for you. Who will listen to your concerns, go above and beyond for what you want and most of all either sell your property quickly or find you the perfect house to buy. As you meet the individual, you will usually be able to define how that person is different than the myriad of other realtors and if those differences are what you are seeking. Even in this high competition field, defining your difference makes a HUGE impact.
3) Develop Your Brand: The first two points directly impact branding. If you already have a brand, does your ideal client recognize it? Do they directly seek out your brand? A brand encompasses not only a logo and the colors for the company but also it directly impacts how you do business. If your website looks different from your social media accounts which look different from your business card, then your brand is inconsistent. How will anyone recognize it? If you are getting ready to brand or rebrand your company, consider carefully what colors directly impact your ideal clients the best. What does your logo convey to your potential client?
While some who have been in business for a long time may feel this information is rudimentary, it is the foundation for building a strong company. Defining your target market, your difference, and having a strong brand all directly impact your marketing and advertising efforts in getting new clients.
Do you want to start 2015 off right? Join us for a FREE Webinar on the Dream.Plan.Start.Grow. process on Tuesday, January 20th, at 7:30pm et. While it is better to be on the webinar live, we will be recording it as well so you can replay it.