I’ve written literally thousands of blog posts and articles throughout my career—but this one is special, because I really believe it has the power to change the trajectory of any business, including yours.
After working with hundreds of business owners and corporate leaders across many different industries over the years, in my mind what separates the ones who run successful businesses from the ones who struggle to generate revenue and grow it all comes down to the ability to answer the following three questions clearly and accurately, because the answers form the basis of any effective business strategy and business development effort.
So here are the three questions below. See if you can answer them in detail without hesitation or if you feel any uncertainty or ambiguity when you try—and if you are having trouble with the questions or the answer to the third question isn’t a resounding yes, then we need to talk!
You can use this strategy sheet to write them down or record them on your favorite device—but do write the answers out because that’s how you’ll get the intended clarity about how to boost your business growth.
1. Whose problems does your product or service solve? Be specific here…the most successful businesses are niche-focused and meet the needs of particular segments of a population, not the general population. You might have more than one type of customer that you solve problems for—that’s great! Write them all down.
2. How does your product and service solve their problems the most effectively? Here’s your chance to clarify why what your business offers is the best choice for the person who has the particular problem you identified above. So go on, brag on what you provide—or make not of any improvements you think you should make to be an even better solution!
3. Are all of the people whose problems you solve aware that you provide the best solution? So here’s the real kicker question for so many businesses…they have an awesome solution to a problem, but the people who need it don’t know about it and that is why their business is not growing like it could—or should be—this is the problem we help businesses solve at The Bona Fide Business Guide .
The right marketing strategy and plan can eliminate this problem for your business by allowing you to:
a) Know exactly what will motivate your specific audience to buy your product or service. Once you are clear on who you are specifically solving a problem for, you also need to understand how that problem impacts them emotionally, physically and in terms of the pain they experience, avoiding this pain is what gives them the motivation to buy your product or service.
b) Deliver the right message at the right time to the right people so they have the information they need to solve their problem with the best solution—which is the one your business provides.
c) Keep them engaged with your business so that when they (or someone they refer to you) need to solve their problem again—or a related problem that you can solve—you are their go-to provider.
These three steps are the most effective solution to the problem of not having the kind of business growth you need. We’ve helped hundreds of businesses solve this problem with more effective growth and marketing strategies, we can help you, too. Let us know if you need this kind of help by scheduling a strategy session to talk through solutions.
BONUS QUESTION: Do the people whose problems you solve agree you provide the best solution? Please note—the question is not, “Do you think that you do a good job serving your customers?” It’s whether they think you are the best solution they can find. If you don’t have any objective idea (in the form of survey responses, testimonials, verbal or written feedback, and reviews) then it’s time to find out by asking them!
So how did you do? Are you crystal clear about whose problems you are solving, why your business provides the best solution to their problem, and whether the people whose problem you can solve are aware that you have the solution they need? If so, your business should be humming along the way you want it to If it is, congratulations!
If you couldn’t write down specific answers or the answers gave you pause for thought about your strategy or how your product or service is performing, now’s the time to take action by scheduling a complimentary strategy session with me. I’d love to learn more about your specific challenges and help you create a plan to solve them.
Simply schedule a complimentary strategy session here and we’ll work through an action plan for growing your business.
Over the past few weeks, I've been watching my inbox and social media feeds filling up with COVID-19 communications. From CEOs updating me about their strategies to combat the coronavirus on a company level to retailers sending seemingly oblivious emails and messages, likely created and scheduled before the whole world shifted to respond to a global pandemic. I am sure many of you can relate. So what is a business to do in these tenuous times when it comes to communicating with customers and implementing marketing initiatives to keep sales afloat (as much as is possible) given the current situation?
I am advocating to my clients that a less frequent, but more meaningful approach to marketing and communications is what is needed—at least for the foreseeable future. To be clear, this doesn’t mean that businesses should stop communicating with customers and prospects, quite the opposite. It’s vital to keep connected to your customers and prospects during this time. However, it’s equally important to communicate with the intention of serving your market rather than solely serving your business needs. By keeping this top of mind, you will have a better chance of cutting through the crush of coronavirus information with a message your customers and prospects will actively engage with.
Here are some tactical tips to help you craft your marketing strategy over the next several weeks:
Let people know how you can help. In these uncertain times, consumers are looking for sources of trusted information, comfort and connection. Let your customers and prospects know that you can relate to what they are going through by specifically explaining how what you offer can help them solve their immediate problems or build a better future.
Be honest about your own situation. If your company is not going to be able to provide its standard services or products, or you need to change the way things are usually done at your business, let your customers know as soon as possible and what your contingency plans are to make sure they can get what they need or find alternatives.
Focus on being relevant. To say that consumers have other things on their minds than what your company is doing right now is an obvious understatement . This is why any marketing you do should, especially in this unique period, should be focused on connecting with customers and prospects where they are in their lives. You can (and should) clearly differentiate your business and move your audience to take a specific action, but don’t reach out to your clients just to tell them things they already know about your company.
Be sensitive to the frequency of your communications. Now is not the time to email bomb your customers and prospects because your sales pipeline has slowed down. If you do, you run the risk of shrinking your email list due to a spike in unsubscribed contacts. On the other hand, if you always send out an email newsletter on Fridays, keeping your communications schedule consistent, but retooling your messages to be relevant, can provide a sense of stability and maintain your connection with your client base.
A good rule of thumb: aim to touch base at least once a month with prospects and up to once a week with your customers via email. Text messages and social media are better options if you want to provide more frequent updates, but again, monitor engagement to see if the return on your investment is really worth the time spent developing content for these channels.
Monitor what’s working and what isn’t. Now more than ever it is essential to keep track of which marketing activities are effective using tracking tools such as Google Analytics, social media metrics, customer feedback, reviews, surveys and of course, incoming leads and sales data. Don’t be afraid to drop what isn’t making an impact for your business and experiment with something new like videos, podcasts or collaborating with complementary service providers.
The coronavirus is impacting every aspect of society and creating challenging conditions for business owners and marketers who need and want to reach out to prospects and customers. Cutting through the crush of COVID-19 communications requires focusing on conveying the unique value you provide while using each customer and prospective client touch point as an opportunity to strengthen relationships within the context of our new pandemic-produced cultural paradigm.