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Ask yourself 3 questions that will define your strategy

By 20/10/2019 No Comments

I’ve created this blog post because I wanted to share the questions that I asked myself when I set up Read The Room Events.  I see it as a practical, live example of how to apply the answers to the three questions and use the answers to structure my business offer.

1. What value do you bring to your customers?

This question is the key one, and the basis for everything you do. You must ask yourself what your customers are going to get from you. This needs to be clear and straightforward and immediately understandable

For example, if you are a creative design agency, then you might come up with a unique statement like:

“We help you to re-imagine your business”

If you are a pet sitter, then you might come up with a statement like:

“We look after your pet when you can’t. You can be sure they’ll know you love them”

So, like me, if you are an event production agency – then don’t sink into the background with all the other event agencies – you have to specialise in something – don’t be a generalist.  Stand out and be a specialist.

Read The Room Events works behind the scenes so that corporate marketers can pull rabbits out of hats.

2. Who will buy this value?

It’s important that you define your customer base, and remember that not everyone is your customer. Not everyone is going to want and need what you sell, and just as importantly, they might not be willing to buy from you, even if you have something that they can use.

How do you define your  target markets?

Make sure you are clear on what you are really delivering. Make sure you understand your value.

What does the value that you bring solve for your target market? If you are in website design, maybe your service can help a business to reach new markets. Then identify the most likely people or companies who have a need for this solution. Remember to make sure that whoever you are targeting has the capability to buy your offer. For example, there’s no point specifically targeting kids with expensive toys if they are not the financial decision makers – you’d need to be targeting the financiers in this caseIf you set up meetings to try to sell your product, make sure you are actually going to meet with the person who has the authority or capacity to say “yes”.

3. How are you going to get to your targets?

The trick to reaching your audience is knowing who they are and knowing where they are likely to be reached. You have to be present wherever your customer is likely to be present. Put yourself in their shoes. What do they read, where do they go, how do they think?. For example, ask yourself:

  • Where do my buyers go for news?
  • What do my buyers listen to when they need advice?
  • Is there a magazine, website, or industry publication that they consistently turn to for information or pleasure
  • How are other people reaching them?
  • Am I really sure I have the right profile of my buyer?
  • Do my buyers meet in groups or congregate somewhere that I could also be present so that I can get in front of them?

The number and types of questions that you will want to ask about reaching your market can be as long or short as your product or service needs, but the key point is that you need to make sure that you are basing your marketing decisions on hard, evidence-based information and not on the random suggestions of well-meaning friends, family, and experts ready to give you non bespoke advice.

Now you’ve determined how you are going to reach your target market, you need to decide which actions you are going to take in order to get to them. If you were providing a consultancy service of some kind, then you might be writing, speaking, and networking. Whatever your actions are, the key thing is that you understand what drives your decision making process about marketing your product or service and keeping track of that metric.

Regardless of your marketing mix, it’s also important to deliver your message in a consistent way to your target audience, but don’t stress about this too much because even if you don’t have a perfect message yet, delivering a message that’s not perfect in a consistent way is better than not delivering it at all.

Getting it all right the first time is not going to happen! So don’t worry about it. It’s better to do something, than nothing, and a plan is only there to throw stones at anyway….