April 25, 2024

Sales and Marketing Advice

Your value positioning statement - or, not being that self-centered loudmouth

Ron Stein | 5/16/2016

Your prospective customers have a say in the success of your business. And you know it. No major shocker here. Or is it?

We’re talking about “prospective” buyers -- the future of your business. They’re not customers, just people roaming the landscape thinking about buying something. Maybe. Heck, you’re not even dating yet.

Think about how many times this has happened to you -- at a networking event someone introduces themselves, and before you can utter a full sentence they start rattling off all the great things their company does, without pausing for a breath, and then shoves a business card into your hand.

Oh, and not one question for you. Not about what you do or anything about your interests. Zilch. Nada. Zero.

You know how that makes you feel. The likelihood of you doing business with this self-centered loudmouth is nonexistent.

Future buyers are people too. If you get to know each other then good things will happen.

You have to set the stage by deeply understanding your targeted audience first. Once you gain meaningful insights about your prospective customers, it’s easier to craft a message that makes people take notice and say, “tell me more”.

This is the only way to create a unique value positioning statement. Yes, you read that correctly; a value “positioning” statement, not a value “proposition” statement. I’ll have much more to say about this in a future column.

There are three parts to understanding your future buyers better. They all involve asking questions, starting with your team, and then of your prospective customers.

It’s a process that you’ll need to learn with no short-cuts, but not difficult at all.

Nail the approach below and wonderful things will happen. You’ll never be a bad date or obnoxious networker and revenue will take off like a rocket ship!

Profiling your targeted audience is the first step. Learning what matters to your buyers starts with basic research. Whether you have existing customers or are a startup, ask yourself questions based on assumptions about the patterns that tie your target audience together. Not all are obvious and straightforward. Initial questions will center around demographic, firmographic, and psychographic information -- such as industry segments, company size, titles, gender, age, group memberships, education, location, goals and pain points. Many of these answers can be found with online search based on reputable third-party reports and surveys. Some will give conflict information. Just remember that is a first pass of high-level questions about your collection of assumed users. You are looking for trends and more than likely will discover a new direction of thinking to pursue. Nothing is in concrete here and in fact, more questions will arise.

Buyer’s persona - better answers through better questions. Go deeper and give your buyers a voice. It’s like a scientific experiment. You’ve made assumptions and now have to prove or disprove each. The only way to do this is with interviews -- lots of them. Surveys are good and email is ok. The best way is to make appointments and get out of the office! But, what questions do you ask? If you pose biased questions, you’ll get skewed answers. Focus on the buying process and how decisions are made -- because that’s what you need to influence. Ask about challenges and the priorities to overcome them. Ask about business and personal success factors and barriers to attainment. Ask about how decisions are made, criteria used, and what sways the process. Dig for expectations, concerns, preferences, motivators, and favorite information sources. Make note about their values and personality during your conversation. Go back to office and make a big matrix for each conversation with columns grouped by questions type. Then circle key words and phrases that pop up often. You can now create your first draft buyer’s persona that answers who, where, when what, why, and how. The truth is out there, find it.

Buyer’s journeys - market and sell the way your buyers buy. The fastest way to drive revenue is to understand the three stages to your future buyer’s journey; awareness, consideration, and decision. Armed with what you learned in the first two steps above, work through the journey your ideal customer travels. At each stage think about what you can do to help your buyer. This “give to get” attitude will help you speed up sales. Map the decision-making process with an arsenal of marketing and sales strategies, tactics, and tools that apply to each. For instance, initially education plays a big role in gaining awareness. The persona you defined will tell you what appeals to your target audience early on in their journey. There’s something that they need to know and they are searching for it. It may be a specific type of solution (“I have a problem tracking inventory and need new software to fix it), or maybe they are barely aware of what the underlying issue is (“my sales are down, why?”), and are frozen into sticking with the status quo. Here’s where you can get future buyers to consider you by teaching them something they don’t know. And because you really understand the mindset of your buyer’s persona, you can use key phrases in your message that will aid in search engine marketing. Plus, you’ll know where to show up to deliver that education in person. Of course you’ll need a valuable lead magnet that’s appropriate for each awareness stage to get them to engage and get the conversation rolling.  

Many companies smugly believe that since what they do is amazing, it must be just as important to prospective customers. Your future buyer has a voice. Discover it and align with their business objectives and priorities.

Insights that flow from a skillfully constructed buyer’s persona will win you more customers by applying those understandings to your unique positioning, messaging, and marketing materials

What are your future customers thinking?

Ron Stein is President of FastPath Marketing (www.marketing-strategies-guide.com) and the author of the Rapid Impact Marketing & Selling Playbook. As a speaker, coach, and consultant he works with small business owners helping them to accelerate the path between their vision and the actions needed to reach, win, and keep customers. Ron is the creator of the FastPath to More Customers Now! 7-step marketing system based on more than twenty years as a successful business owner, corporate CEO, business development executive, and salesman. He is also a mentor at two nationally recognized business accelerators. Ron offers one-on-one and small group mentoring, conducts seminars, and consults. He can be reached at 727-398-1855 or Ron@FastPathMarketing.com.

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