Ask the right questions and you’ll get the right answers.
A recent survey of 2600 small business owners, conducted in January 2017 by “Small Business Trends” revealed that 62% of them believe Facebook advertising is ineffective.
First, we believe the reason for this is the same reason too many small business marketing strategies don’t work – they don’t ask the right questions.
Our Essential Elements discovery process is designed to help you discover the six elements every small business owner needs to know. The very first element is designed to determine who your ideal target audience is.
There are 6 elements to knowing who your Target Audience is.
In some cases, you’ll need to survey or have conversations with existing customers to accurately flesh out your target audience.
One, Demographic Information: Where do your clients come from specifically?
- Geographic location
- Income
- Gender
- Education
- Marital status
- Occupation
- Religion
- Age
Two, Psychographics:
- Spending habits-where do they shop?
- Hobbies
- Values
- Concerns
- Desires
- Lifestyles
- Associations they might be affiliated with
Three, Sources of Information: Where Does Your Target Client [ideal customer] Get His or Her Information?
Who are the thought leaders they follow like authors, bloggers, magazines, websites, podcasters?
What Facebook pages are liked by your Target Audience?
What Facebook groups do your Target Audience belong to?
What are the most popular online discussion forums in your niche?
What are the most popular LinkedIn groups in your niche?
Four, Pain Point or Challenges: What is their major problem they have that you have a solution to?
Five, Objections In Their Purchase Process: What are the reasons your customer might choose NOT to buy from you or your product or service?
Six, What are their goals and values?
Second, they don’t understand the importance of testing. One of the great advantages to Facebook advertising is how easy, fast and relatively inexpensive it is to test not only the answers to the 6 elements to knowing who your Target Audience but also the message including the attention grabbing headline.
Testing budgets as small as $5 or $10 a day, focusing on different mixes, can tell you what you need to know before you begin to invest larger amounts in your campaign.
Our Essential Elements discovery process helps you discover these six things which are critical regardless of what media or technology you use.
- Who is your Target Audience. Your ideal customer. The 20% that generate 80% of your revenue, cash flow and ultimately your profits.
- The Lifetime Value of your customers. You know exactly how much you can spend or ethically reward someone to become your client or remain a loyal fan.
- Your Unique Selling Proposition (USP). This is what sets you apart from everyone else. What makes you, your products or services unique?
- Risk Free Guarantee. This is what makes it easier for your clients to say YES vs
- 100% Financial Capacity. This clarifies how much money you are potentially leaving on the table and gives you the insight and courage to move forward.
- 80/20 Principle. Also originally known as the Pareto Principle.
The vast minority of your customers, employees, products/services, efforts, time, money, resources are generating the vast majority of your results. This process helps you identify them.
The question is always the answer.