By far one of the most effective ways to grow your business is focusing on what makes you and your brand unique from others in your industry.
Why? Because if you do this step first, then everything else you do to bring in new customers or clients will have higher success rates.
From networking and sales calls to advertising and marketing, most forms of lead generators are better able to attract your ideal audience if your messaging clearly differentiates you and proves why you're the right company to work with — also known as your value proposition.
But if you're unsure how to actively use your value proposition in order to reach your target audience, then it essentially becomes useless.
Clearly Define Your Target Market
Far too often, business owners and entrepreneurs like to think that their products or services are for everyone and anyone. However, this approach typically leads to the opposite of business growth, such as wasted money on advertising to extremely broad audiences and ultimately lower revenue.
What actually happens when you market to everyone is you end up selling to no one. People prefer to purchase things that have their specific challenges, concerns, problems and questions in mind. So when businesses over-generalize and aren't clear on exactly who they want to help, how they want to make a difference, and why, they are less likely to convince others to buy.
Be sure you have clarity about what individuals or businesses you are trying to impact, and become extremely familiar with their unique circumstances.
Evaluate Why You Are the Right Person to Offer the Solution
Say you're a travel agent and your target market is retirees looking to travel now that they are no longer working or have kids at home to take care of. What would be the top few reasons to book their trips, tours and other adventures through you instead of someone else?
Think about your own experience, knowledge, expertise. Are you one of the only travel agents in the area who has been to the most fitting destinations in the world suited for this demographic? Do you take more time to provide a variety of options to your clients? What about certifications you've earned or discount programs you have exclusive access to?
No matter your industry or niche, your value proposition needs to make sense in the eyes of your target audience — not just anyone out there. Once you have a deep understanding of the connections between your proposition and your target audience, you will be on the right path for business growth.
Join Our Strategic Plan Workshop in Lakewood, CO
As the year comes to a close, working on your strategic plan for 2019 is vitally important. Determining your value proposition, reviewing your target audience and ideal clients, and mapping out your goals for the new year are all key steps to ensuring your business succeeds.
Start by registering for our Strategic Plan Workshop! This free, 4-hour interactive workshop on November 30th will provide the tools and insight you need to take action on your mission, vision, value proposition, lead and lag measures, and cadence of accountability. Sign up online today!
About Behm Consulting, Denver Business Coach
Through six executive-level, in-person workshops, conducted at our Denver location or yours, Behm Consulting, Denver business coach, gives you and your team the one-on-one training and insight you need to take your profits, and your organization, to the next level.