I’ll buy anything.
A slick pitch, a good offer and that’s all it takes. My hand is in my wallet and I’m handing over the cash faster than my wife can say “Are you serious?”
Sometimes it works out well – like the hot tub that kept us going through the last 12 months of lockdown – and sometimes not so well, like the many thousands of pounds I’ve wasted on gimmicks, quick fixes and mismatched marketing.
Now, don’t get me wrong, I’m a firm believer in marketing your business. You’ve got to spend money to make money.
But something I’ve learned over the last 25 years in business is that it’s got to be the RIGHT marketing.
As technology has developed, more and more marketing opportunities have sprung up. First it was Google Ads, then Facebook – now you’ve got Tiktok, Instagram, Snapchat, LinkedIn and probably a million more that I haven’t even heard of!
You could spend a fortune on marketing – and if it brings a good return on your investment then that’s ok.
But the reality is that most of it won’t.
So how can you tell which marketing opportunities will work for you? And which are a big fat waste of money?
It all comes down to the core foundation of all marketing: understanding your target market.
When you know who your target audience is, what they think, what they feel and where they hang out then it becomes much easier to decide where you’ll get the most bang for your buck.
As a freight forwarder, my target audience is not making dance videos on TikTok or posting selfies on Snapchat. Advertising there is going to be a big waste of cash.
Just last week I had an email from a guy trying to sell me some kind of system for prospecting on Instagram. In the past, I’d have been easily sold by his slick pitch and killer offer.
But now I know better.
Now I know my target market, I can save myself from the slick salesmen and laser-focus my marketing to get much better results.
So what about you? How well do you know your target market? Do you know what they do, where they live and where they hang out?