Big Marketing Mistakes by Small Business Owners

Small business owner who have not fully grasped the concept of the importance of understanding who their ideal client is ought to be looking at some of the top tier companies in various high-profile industries and how they are marketing to very specific ideal clients.

So many small business owners make the mistake of thinking they should market to anyone who has a need for their product or service.  Not so!  Wasted dollars are spent spraying a marketing message to everyone out there, and as a result, grab the attention of very few.  And, by grabbing attention I mean making that emotional connection that drives a prospect towards a sale.  Here’s a fact:  we buy from emotion, irrespective of how significant or insignificant the purchase is.  The mistake so often made is that we market to NEEDS, when we should be marketing to WANTS.

The cell phone industry is a great example of how top tier companies have segmented themselves based on the WANTS of their ideal client.  Just about everyone needs a cell phone these days, but some of us want the features that go with nationwide roaming, sophisticated G3 networks, integrated and bundled services, and rate-secured contracts.  Companies such as Verizon, Sprint, T-Mobile, etc know that their ideal client wants these services.  On the other hand companies like Metro PCS and Cricket understand that their ideal client wants the flexibility of monthly contracts, and a plan that doesn’t require a high credit score and don’t have the sophisticated features as the former ones.  They market to attract a different ideal client.

And with the drive to insuring the 49 million Americans currently without health insurance chances are you will see marketing to the wants of these individual versus the wants of those ideal clients who want higher end coverage.

My mailbox is packed with direct mail pieces that have no real clarity as to who they are marketing to.  So many wasted dollars.  Understanding the difference between the needs and wants of your ideal client is one of the most fundamental concepts of any business.

If you’re interested in learning the process of uncovering the wants and needs of your ideal client please go to www.createyourniche.com

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