{"id":3258,"date":"2023-07-10T01:49:45","date_gmt":"2023-07-10T05:49:45","guid":{"rendered":"https:\/\/parmaks.com\/Resources\/the-4-filters-i-use-for-choosing-my-dream-clients\/"},"modified":"2023-07-10T01:49:45","modified_gmt":"2023-07-10T05:49:45","slug":"the-4-filters-i-use-for-choosing-my-dream-clients","status":"publish","type":"post","link":"http:\/\/parmaks.com\/Resources\/the-4-filters-i-use-for-choosing-my-dream-clients\/","title":{"rendered":"The 4 Filters I Use for Choosing My Dream Clients"},"content":{"rendered":"

\"Profit<\/a>
\n<\/p>\n

\n

Anyone can start a business. But getting the word out successfully to the right crowd in a way that resonates with them can be a challenge. That\u2019s why I teach my clients about the three pillars of marketing. It\u2019s not just theory, I regularly use these pillars in each and every one of my companies and have found that any new marketing initiative should always, without question, be built around these concepts. By implementing these pillars, you\u2019ll be able to set yourself up for growth and success.<\/span><\/p>\n

The three pillars of marketing are: market, messaging, and monetization. Each one has an important role in your business\u2019 growth and development. If you get these right, you\u2019ll be on your way to growing your company.<\/span><\/p>\n

Here\u2019s how it breaks down:<\/span><\/p>\n

1. Market: Start by Identifying Your Target Audience<\/b><\/h2>\n

You can have the best products and services in the world, but if you\u2019re not marketing to the right people, you\u2019ll drive yourself up the wall wondering why you aren\u2019t getting the conversions you want. That\u2019s why it\u2019s important to identify your <\/span>target market<\/span><\/a>; the group of people who are interested in your product or service.\u00a0<\/span><\/p>\n

Identifying your market is the first step toward creating a marketing strategy that works. It will help you to reach your audience more effectively.\u00a0<\/span><\/p>\n

Here are two steps you\u2019ll want to take:<\/span><\/p>\n

Build an Avatar of Your Customer<\/b><\/p>\n

It is one thing to know you are talking to moms. It is another thing to know you are talking to moms between the age of 25-35, with one child, dual income family, and she has the hobbies of baking and gardening. The more you know about your customer, the more targeted your messaging can be. This is essentially market research that speaks directly to your ideal audience. Data append services like AtData help when it comes to collecting this data, allowing you to fill in any gaps you may have.<\/span><\/p>\n

Segment Your Market<\/b><\/p>\n

Market segmentation, or dividing your market into specific groups, is the secret sauce to more effective target marketing.<\/span><\/p>\n

When I launched my ecommerce business <\/span>RTA Cabinet Store<\/span><\/a>, I discovered five different customer groups with very different reasons for buying cabinets. Those five groups were homeowners, property investors, real estate agents, contractors, and property managers. In fact, this was only a broad-level assessment. I broke it down even further and segmented those groups according to other demographics. As a result, I tailored our marketing efforts to appeal to each segment. We drastically improved our conversion rates and increased customer lifetime value by over 60%.<\/span><\/p>\n

2. Messaging: Where Are Your Customers and What Marketplaces Should You Be On?<\/b><\/h2>\n

Today\u2019s customers are spoilt for choice, and if your messaging and image don\u2019t resonate with them, other options are just a scroll away.<\/span><\/p>\n

Defining your unique selling proposition (USP) is an integral part of messaging. Your USP is what sets you apart from your competitors, and it\u2019s the reason why your customers should choose you over others. Your messaging should revolve around your USP and highlight the benefits of your product or service.<\/span><\/p>\n

What Marketplaces Should You Be On?<\/b><\/p>\n

Understanding the income level and buying patterns of your audience would make it easier to understand what marketplaces to use. Higher-end products most likely won\u2019t sell on Walmart.com, for example, but may sell great on Target.com. Think about where your target audience is going to be, and go to them.<\/span><\/p>\n

What Social Channels Should You Use?\u00a0<\/b><\/p>\n

Figure out where your target customer spends their time and create a social media presence on that platform. Understanding the age bracket dictates which social platforms to focus on. I personally don\u2019t believe you need to be on ALL of them, you just need to be on the right ones. It\u2019s more than just setting up an account and hoping for the best. In most cases, this involves using a combination of paid advertising and clever marketing campaigns to expand your reach and drive relevant prospects to your website.\u00a0<\/span><\/p>\n

3. Monetization: Strategies to Boost Your Revenue<\/b><\/h2>\n

Once you\u2019ve got an audience that\u2019s visiting your website, it\u2019s time to start turning a profit. This is the part where you start making money.\u00a0<\/span><\/p>\n

Two effective ways to increase revenue are through new customer acquisition and increasing customers\u2019 purchases per order.<\/span><\/p>\n

New Customer Acquisition: Start by Identifying Your Customer\u2019s Lifetime Value<\/b><\/p>\n

With the iOS update and concerns over privacy, the cost per acquisition of new customers keeps rising.<\/span><\/p>\n

If you know how much a customer is worth to your company, then you\u2019ll know exactly how much you can spend to acquire new customers.\u00a0<\/span><\/p>\n

Selling to Existing Customers: Increase Revenue Without Increasing Traffic Volume<\/b><\/p>\n

Look for strategies to increase revenue without having to increase traffic volume. It is far easier to sell to an existing customer versus cold traffic. This involves finding ways to improve your average order value, looking to boost your conversion rates by ensuring that you\u2019re targeting the right customers in the first place.<\/span><\/p>\n

Tips for Increasing Your Revenue:<\/b><\/p>\n