By Marisa Smith
The global health crisis has caused many entrepreneurial companies to seek new ways to deliver services within the current constraints and limitations. So how will your organization continue to engage prospects, leads, and customers in our new, socially distant society? We recommend taking a look at these marketing strategies and committing to a marketing program for the long haul.
At EOS®, we break down a marketing strategy into 4 key areas:
- Target Market
- 3 Uniques™
- Proven Process
1. TARGET MARKET
The term Target Market refers to the group of companies at which you aim your products and services.
It’s important to get clarity on your target market so you can focus on the customers that you’re most likely to engage with and ultimately want to do business with.
Marisa Smith, Certified EOS Implementer ® says:
“If you have a limited marketing budget, you’re better off focusing on your ideal customer and not investing time, energy, and resources into attracting people that are not going to be profitable or fun to work with.”
To develop (or refine) your target market, ask yourself these three questions:
- Where are our ideal customers located?
- What are the demographic characteristics of our ideal customers?
- How do our ideal customers think and what do they value? What are their psychographic characteristics?
But be cautious about going too far with re-defining your target market right now.
“Don’t become a victim of the moment.” cautions Mark O’Donnell, Certified EOS Implementer and EOS Worldwide Visionary.
We recommend that you put yourself in the shoes of your ideal target customer and think about how to stay connected with them using various platforms such as social media, email marketing, and digital ads.
2. 3 UNIQUES™
The 3 Uniques answers the question: Why work with us?
They represent the three things combined that you do better than your competition-your differentiators. Once again, the current moment may have you wondering if your 3 Uniques need to change.
“I think this is actually a test,” advises O’Donnell “for those who have their three uniques established, if they are no longer true, they probably weren’t right in the first place. Having three uniques that are timeless is key.”
Just like the target market, be careful with this one.
Marisa Smith says: “It’s tempting to swerve and do something different, market to different people… you may need to switch the pain point you’re addressing but what makes you, “you”, hasn’t changed. Remind people why you’re special as a company and why you’re better than your competitors.”
3. PROVEN PROCESS
A proven process is a step-by-step visual representation (about 3 to 7 steps) of how you deliver products and services. It’s critical for setting client expectations and creating a repeatable blueprint to follow for continued success. It’s also a great sales and marketing tool.
“That proven process is more important now than it was just a few weeks ago. Give that prospect a sense of certainty around what is going to be happening. Having that structure is going to put people at ease, ” says O’Donnell
While your products may not have changed, the way you deliver them may have flexed during the pandemic. Think about how your business is delivering to customers right now and document it. Then share it in your marketing and sales materials.
A guarantee is your unique promise to your customers when they engage with you. Like the proven process, it helps manage expectations and lower fears. It’s different from the proven process in that instead of describing HOW you’re going to deliver services, your guarantee is focused on WHAT the customer can expect from you every time.
FedEx for example, guarantees that packages will arrive by 10 a.m. the next day, almost anywhere in the world.
What can your company guarantee? Whatever it is, put it in writing, get your team behind it, deliver on it, and talk about it in your marketing materials.
According to O’Donnell: “People are worried and fearful so whatever we can do to minimize their risk is important. Whatever we can do to calm those fears you’re going to increase your close ratio.”
Brainstorm with your team and document the biggest frustrations and concerns for your ideal customers. Your guarantee needs to addresses these items. By differentiating yourselves as the best problem solver for a particular concern or issue that a customer may face, your business will stand out from the competition.
MARKETING MOMENTUM FOR THE LONG HAUL
Develop your marketing strategy on what makes the most sense for your business goals and your budget. Many companies find great success in a combination of inbound and outbound marketing tactics. Just make sure to develop your strategy first and let that drive your tactics.
Remember, even if people are not ready to buy right now, you want to be on their minds as markets continue to bounce back.
Smith reminds us: “A lot of companies think ‘where can we cut back?’ But marketing is the number one thing you should not cut right now because you need to stay visible. If you didn’t have a solid digital marketing strategy going into this, now is the time to develop one.”
- Download a copy of the EOS V/TO™ to help you clarify, simplify, and achieve your vision
- Learn to make decisions faster and better by downloading a copy of our free eBook, Decide!
- Thinking of implementing EOS in your company? Request a free 90-Minute Meeting with EOS Implementer® Mike Gruley to get an overview of EOS and how it can help you!