target marketing

Is Your Marketing Ignoring These 2 Critical Target Markets?

We all know how difficult it can be to get clients in the first place… so… Are you experiencing attrition? In other words, are you losing clients out the back door almost as fast as you are bringing new ones in the front door?
Or how about your team

Have you lost team members that you invested time and energy to attain and train?

Do your marketing efforts to back-fill those positions seem to be attracting all types of “crazies” looking to get paid without doing the work?

Suppose any of these questions ring true for you. In that case, you will want to tune into this video segment where I simplify and identify two critical target markets that, if adequately marketed, can mitigate the business mentioned above challenges and put you on a path to greater success.

For those of you who prefer to read the transcript:

Hi, we all know how difficult it is to get clients in the first place, so let me ask you a question. Is your business losing clientele out the back door? We call this attrition. And also, how about employees? Are you having difficulty finding new talent? Are you having difficulty keeping the employees you currently have?

If any of these are true for you, you’re going to want to tune into this segment that I call “Is your marketing ignoring these two critical target markets?”

Hi, I’m Dean Mercado from Online Marketing Muscle. What I have for you today will be a bit interesting, a little different spin on what we traditionally call marketing. A lot of times, I talk to businesses and express their difficulties with many things that I mentioned previously. For example, when it comes to attrition, losing clients out the back door, whether it’s to a competitor, whether it’s to somebody choosing to do the work themselves, whatever it is, as well as having difficulty finding new talent, losing the talent that they have, those kinds of things. Let’s talk about what these two target markets are.

Existing Clients

Now, the first target market are those that have the ability to hire us. Those that have the ability to hire us. So having a marketing plan aimed around those who have the ability to hire us is a great idea obviously. There are a couple of different components of that and I want to dissect it a little bit here because I think it’s important. Most of us do it half way where we market our business toward new prospective clients only. New clients, new prospects only, but we neglect and we don’t put enough thought into a lot of times, I’m not saying you’re doing this, I’m just saying that I see this a lot. We ignore our existing clients, we do not have a marketing plan in place to keep our existing clients warm.

Now leaving it just up to customer service may not be the best bet. What are we doing to keep our existing clients interested, educated and in love with us, ultimately in love with us. Those who have the ability to hire us, our existing clients and our prospective clients. Make sure that you have a plan and you’re addressing both sides of that coin. Very important.

Team Member Relationships

Now let’s take another angle at this. The second big target market that I see most people flat out missing altogether. Again, I’m not saying you’re doing it. I’m just saying I see this constantly, and it is those that have the ability or market to those who can help us. Not hire us per se, but to help us. Now, what do I mean by that? Staff members and joint venture partners, affiliate partners, referral partners, networking partners, or any way you want to look at it can help us. Or those who are on our teams like accountants, attorneys, and bankers. They’re all part of your team.

What are you doing to keep them in love with you? So if they’re your existing team, marketing to your existing team is critical. This is how we keep our existing team. We keep our existing team in love with us, so they’re not easily wooed away by someone else presenting with a better deal and a better offer.

Just like clients, it’s the same kind of thing. We’ve got to work to keep the people on our team in love with us. It’s relationships. All about relationships: now, on the flip side of that same coin, we need to do enough marketing to attract those we want to help us in the future. So that could be, again, employees, potential JV partners, potential affiliate partners, potential referral partners, or however you call it, bankers, attorneys. Who do you want on your team? And what kind of marketing are you putting together to attract those people consistently?

So again, real quick, the two target markets are those who can hire us and help us. And remember, there are two sides of the coin in each of those. First, there are the existing clients and prospective clients: the existing team and the prospective team.

Finally

Think about this. I want you to chew on this one a little bit and see, take a look at your marketing and take a step back for a minute and look at it from afar and say are we marketing to both of those target markets? And are we marketing to the different segments within the those target markets? I’d love to hear what you’ve got to say about that one. It’s a little bit of a different spin, love to hear what you’ve got going on and a little action item for you.

What three things and this can kind of be a big thing?  Three things can you do this week for each one of those segments, to market to each one of those segments. For example, what three things can you do to attract new prospective clients? What three things can you do this week to keep your existing clients in love with you? What three things can you do this week to attract new team? What three things can you do this week to keep your existing team in love with you? 

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