Marketing strategies are essential for business growth, and business growth is essential for business survival. However, with so many marketing options today, especially in the digital world, it can be easy to fall into the mindset that the only thing that matters is numbers. The bigger the number that see your offer or brand, the better, and nothing else matters.
This approach is a mistake that could reduce your return on investment for marketing campaigns.Your audience today is more sophisticated than ever. Studies have shown that people tend to respond more positively to targeted marketing. This feels more personalized, which is a world where the amount of marketing of all kinds people experience is rapidly increasing, is key to getting results.
Professional services marketing should be focused on the right people, and the right people are your best clients.
Focusing on the right people
If we look at a marketing strategy without a specific target, where you have not already identified who your best clients are, then it has to be broadly focused. The problem is that without a defined target, such broad-based marketing tends to lose its effectiveness. Instead of appealing directly to a specific group, the message becomes diluted and appeals to no one.
The key to this conundrum is already in your hand though. You should focus on the group that offers the best return on investment, and that is your best customers. Identifying who they are gives you the data needed to target the right group with your next marketing strategy.
To illustrate the need to focus on those best customers, an example would be a business where 70% of sales come from just 20% of the client base. Which is the best marketing strategy, marketing to the demographic that matches the 20%, or marketing to everyone?
Instead of the shotgun approach that targets everything, be a precision sniper, and target the important ones.
Identifying your best clients
It can be tempting here to just take a look at last year’s data, see who spent the most and assume they are your best clients. It can be successful, but by spending a little time analyzing your client base, you can find a far more effective approach.
Your best clients are those who engage with you the most, who return more frequently, who promote you through recommendations and pass on new business. These should be clients who have also spent well themselves of course, if not necessarily at the very top, but they do offer a much-improved ROI for identifying them. For professional services marketing, this group are the core target for any business.
The question then, is what does this focus on ‘the best clients’ look like in practice? Understanding who your best clients are allows you to create a set of personas that define the group you are talking to. Categorized personas can then be used as needed for any specific task.
Not only can this approach be used to build your marketing strategy, but it can also be used to help inform web development and shape content development. In addition, any advertising can be tailored to these personals too. Further, you can use this data to inform contractors, define a pricing strategy, and better understand which business is preferable, and which you should decline.
Once you have clearly defined ‘best clients’, you not only have the tools for your professional services marketing strategy, but an informed foundation for your entire business strategy. Of course, this does not mean that the business should be narrowly focused on that specific demographic exclusively, you need a broad client base to thrive. However, when looking for the best ROI on marketing strategy and investment, focusing on those best clients delivers results.
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