A lot of times we find ourselves in the wrong market. The reasons for this are likely many and I am sure if you spend any time in business, you find yourself facing this challenge.
But the bigger issue is how do you overcome being involved or targeting the wrong market, so that you can get your organization headed back in the right direction?
Here are a few simple questions to ask yourself the next time you are struggling with your market focus:
1. What value do I provide or am I aiming to provide? This is the most basic question any business should be asking itself. In fact, I would say it is one of the only 3 questions that you ever need to ask to set and maintain your strategic focus.
In thinking about the value that you are trying to provide your clients, it pays a lot of dividends if you focus on the tangible value. In too many instances today, we hear marketing and business people talking about fuzzy points of measurement like “likes,” “engagements,” and “attention.”
Those numbers are great, I am sure…but if they don’t lead directly to something that can convert to sales, they are worthless because you need the revenue from sales to keep advancing yourself towards the goals and mission you have set for your organization.
So look for tangible benefits like money made, money saved, or time used more effectively.
2. Am I targeting the right people and organizations? This sounds so obvious, but one thing we can find ourselves doing pretty regularly is thinking we are serving someone or providing value to someone that we really aren’t.
That’s why it pays to ask ourselves whether or not our failed market is due to looking at the wrong people or at the wrong organizations?
What this means for you is that you may have the right organization, but you are targeting the wrong person within the organization. Or, you may have the right buyer type and right industry, but you are hitting on the wrong organizations.
These are common, so it is important that you spend some time reflecting on whether or not you are looking in the right spots and at the right people.
3. Are you going to the right places to reach your buyers? Content is King! I get it, look at my blog here and now, but maybe everyone isn’t on the Internet…or, maybe everyone isn’t at that conference that you are really focused on making a big splash at.
The point is that where you want the buyer to be is irrelevant. What you need to focus on is making sure that you understand where your buyer is and where you have the likelihood of finding them and getting your organization and your sales force in front of them…or, your content and information.
Go there…and don’t worry about what you want. Because what you really want is sales and those come from worrying about the buyer.
These are just 3 questions to ask to get yourself back on track. There are more. But I am curious how you are using these questions to reset your marketing and strategy.
Let me know in the comments.
Which market am I looking for? was originally published on Wakeman Consulting Group