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The following is the 3rd part of a 7-Part series focused on “How To Become A Customer Magnet,” the metaphysical mindset, processes, and systems that contribute to developing a team of RAVING Customer Fans. The magnetic process, now being incorporated into a stand-alone book, will be released on Amazon this summer. Authored by Danna Olivo, the Customer Magnet concept is incorporated into many of her small business strategies introduced over the past decade. Enjoy!
Identifying Your Sphere of Influence – Your SWEET SPOT
In Part 2 of the Customer Magnet Blog Series, we explored the science behind the Law of Attraction, the metaphysics behind our thoughts and beliefs and their contribution to the attraction. Today’s blog will take things a little further as we explore how likely you are to attract qualified prospects and subsequent customers.
Magnetic Susceptibility by definition is a dimensionless proportionality constant that indicates the degree of magnetization of a material in response to an applied magnetic field.
In a nutshell, your magnetic susceptibility is dependent upon how likely your prospect is attracted to your particular offering. Understanding who your ideal customer is the first key to the susceptibility of your prospect. The degree of need determines the susceptibility parameter. Trust, however, is what will push them over the line to becoming a customer. The key to becoming a customer magnet is highlighted in your ability to read your prospect’s or customer’s needs and meeting them where they are even before they even realize what they need.
Identifying your ideal customer ahead of time eliminates a lot of wasted time, energy and money chasing prospects that will never become customers. There are different criteria that should be taken into consideration when identifying your ideal customer.
One of the first determinations to be made when identifying your ideal customer is whether you are marketing to an individual (B2C) or a brand (B2B). For example, most inbound marketing methodologies put emphasis on the individual getting content. While the person is important, it may be more beneficial to concentrate on the market and the companies within that market. This is known as “Firmographics.”
You’re probably asking, what’s the difference between brand and individual marketing efforts. From an inbound marketing perspective, you are looking at pulling leads or prospects into your funnel to see who meets your criteria. Therefore, prospects are qualified before an opportunity is even realized and the prospect is converted to a customer.
Criteria for inbound marketing/sales efforts generally will center around three customer profiles (1) psychographic/lifestyle approach; (2) the consumer typology approach; (3) the consumer characteristics approach.
Traditional segmentation has incorporated demographic methodology focusing on variables like age, gender, income, etc.; psychographic methodology focusing on personality, values, opinions, attitudes, interests, and lifestyles; and behavioral methodology focusing on buying behaviors and patterns like frequency, brand loyalty, benefits, etc.
A new entry into inbound market segmentation is the technographic methodology. Much like demographics and psychographics, technographic profiling is a criterion built upon technology use such as what hardware or software does your ideal customer use.
Outbound marketing efforts are much shorter than inbound, making them ideal for early growth. Outbound efforts focus on firms/brands that may not have any idea who you are but meet your ideal criteria. Ultimately what you are doing with outbound sales efforts is you are building your brand among other qualified firms to attract prospects and clients.
An example of an outbound marketing/sales methodology involves identifying what’s your unique value proposition and identifying companies or an industry currently using your product or service. Research identifying potential gaps within the industry not currently being met that you feel confident you could meet is another approach.
Position your company or brand within that industry in front of potential leads highlighting the value your firm brings to that industry. Niche your market to focus dollars and energy on location, company size, company structure, and revenue/performance parameters. The final step in the outbound approach is to find the decision-maker within the organization you are targeting. Your job is not done until you make contact with who can sign the contract.
The susceptibility side of customer magnetism involves creating that perfect scenario for attraction to happen. By niching your market customer attraction is greater; closing success is amplified; and brand awareness is intensified.
Next in the “Customer Magnet” Series – Magnetic Attraction – Creating an ENGAGING APPEAL
Danna is a Business Growth Strategist and CEO of MarketAtomy, LLC. Her passion is working with small first-stage entrepreneurs to ensure that they start out on the right foot and stay on the path to financial freedom. Known as the Business Birthing Specialist, Danna understands the intricacies involved in starting and running a successful business. As an intricate component ingrained into her client’s business structure, she works diligently to keep her clients accountable and on track to fulfilling their success goals.
A graduate of the University of Central Florida’s College of Business. She brings more than 35 years of strategic planning experience in business, marketing and business development both nationally and internationally.
Danna is not only a professional business growth strategist but has worked Internationally within the country of Brazil. She is a public speaker and four-time #1 Best Selling Author on Amazon.
To reach Danna at MarketAtomy, LLC email firstname.lastname@example.org.