Monday, July 11, 2016

Are You Spreading Yourself to Thin?

Do you do Six thousand things or do you do Six things well?  I came across this video by Dr. Ivan Misner who explains this theory.
When it comes to marketing, do you jump from one thing to another trying to find what works?   Do you give ample time to see if the new plan is working or not and why not? 
As an entrepreneur it’s sometimes hard to determine what marketing will work best and where to spend marketing dollars. 
Here are some things to consider and questions to consider:

  • ·        Who is your target market?  Get as specific as possible on this one.  For instance:  I often hear people in the skin care business say – ‘Anyone with skin.’  Really?  A baby has skin, but doesn’t have any money.  Instead think in terms of what problems does your product/service solve and/or what is the benefit of using your product or service.  So if your skin care product clears adult acne, then you want to target adults with acne.  Perhaps people in a professional environment who need to look their best. 

  • ·        What part of your business do you do 80% of the time?  Your business may cover multiple facets, say for instance in the insurance area; your business encompasses everything from personal lines of insurance, long term care, health insurance, life, commercial, etc.  Which of these is your specialty?  Sometimes by trying to cover to much, people get confused about what you do and your message is watered down.  By concentrating on one area, your message becomes more clear and focused.  Once you get the opportunity to sit down with someone one to one, then you can explain all the facets of your business.

  • ·        Where do your best referrals/business come from?  Look over your past business history/customers and analyze where your best referrals came from.  This is a great way to understand where your marketing efforts are working and where to put more focus.  Concentrate more on quality instead of quantity.

  • ·        And as Dr. Misner says in his video, ‘Are you persistent and consistent?’  Placing an ad for one month and/or going to one networking meeting is more than likely not going to get you any business.  Most of the time it takes people 6 to 8 times to hear your message to understand and retain what it is you do.  In the advertising world it’s called ‘Spaced repetition education.’  Why do you think they run ads over and over again on TV.  Why do you think publications want you to sign up for several months at a time?  Because they know one time is not enough.  And most people want to get to know you before they will trust you enough to give you their business.

  • ·        If you are new to your business field, ask others what has worked for them.  Talk with those in your field who have been successful and with whom you can relate and find out what has worked for them.  Determine what you feel comfortable doing.  Sometimes what one person enjoys doing, like cold calling, is not for you, but going to a networking meeting and meeting people face to face, would be better for you. 

Whatever you determine is best for you and your business, focus on being persistent and consistent.   Give things time to work.  Analyze what works and why it worked and do more of that.

Tell us what has worked for you.  What has been the best avenue for you to obtain business?  Your comments are welcomed and appreciated.
To read Dr. Misner’s entire article -
Happy Marketing,
"Helping You and Your Business Look Good"


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