Growing your business

If your aim is to grow your business by winning new customers, there are four elements you’ll want to focus on.

Growing your businessTarget market

Deciding exactly WHO are the ideal customers for your different products and services is vital. Get this wrong, or fail to invest the time it takes to define your target market, and your marketing is destined to get low payback or fail altogether. The most successful businesses on the planet know exactly who they want to target with their marketing. You can read how to define your target market here.

Marketing messages

Once you know WHO you want to win as new customers, you next need to work out WHY a customer would choose you. There are two angles to cover in your marketing messages:

  1. We humans are not as logical as we’d like to think, so you’ll want to craft your messages from an emotional angle. You can learn how to tap into your customer’s emotions here.
  2. Problems you fix. Your marketing messages need to convey how you help your customers overcome challenges and problems they are facing. You can learn how to address your customer’s problems here.

Test & measure

Without testing and measuring your marketing, its impossible to know which of your marketing tactics are generating you a financial return on investment and which are just a cost to you.

Half the money I spend on advertising is wasted; the trouble is I don’t know which half.    John Wanamaker

Yes, in some cases it may be tricky to find a way to measure the results from marketing – its not impossible though. The actual way to measure marketing will vary depending on the specific tactic. Examples of ways to test and measure include:

  • a specific offer that you only use with a specific marketing tactic so that you can always trace it back
  • a specific phone number
  • a specific web landing page
  • a voucher

Investing time and effort into working out how you’ll test and measure all of your marketing will literally pay you dividends as you’ll ultimately end up investing money only on what actually works for your business. I personally will not invest a single penny or minute on any marketing tactic unless I have a definite way of measuring the results.

You can learn how to Test & Measure your marketing here.

Marketing tactics

The specific marketing tactics that you choose to generate new leads for your business will depend on WHO you want to attract. For example, if you’re selling to other businesses you might use LinkedIn, telemarketing, direct mail or networking to name a few. Or if you’re selling to consumers then you might use Facebook paid advertising or flyers through letterboxes. And every business should consider having a referral strategy for generating new leads in systemised and proactive way, rather than relying on reactive or pot-luck word of mouth.

Whichever marketing tactics you choose to build these three components into whatever you create:

  1. Get clear on the purpose of your marketing before you start using Target – Offer – Content.
  2. The AIDA principle to create content that resonates with your target audience.
  3. Enlist the power of the YOU. The word “you” speaks directly to potential buyers.

While there are many different marketing activities, there are three main ways to generate leads for your business.

Converting leads to sales

Your sales process begins at the point you’ve generated a qualified lead and ends when you’ve converted the lead into a new customer.   You’ll be more likely to convert leads into new customers when you have a consistent and documented sales process that builds trust, establishes what your potential customer needs and clearly demonstrates the benefits of what you offer.  You can read how to systemise your sales process here.

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