There’s nothing worse for an entrepreneur than to make all the efforts to create a service and a marketing campaign, just to attract customers who claim they can’t afford it continually.
Although many business owners concentrate their energy on making sure they’ve developed an obvious “fool-proof” strategy to get customers in, they can still fall into an audience that isn’t right for them. This can be tiring because people don’t understand why, even though they’re good at what they’re doing, prospects aren’t buying, or worse yet, they’re looking for discounts on everything.
The good news is that there’s a way to avoid getting people who can’t afford your services and change your focus and marketing efforts to get people who are willing to buy. It’s all about having and executing a brand plan that truly resonates with your target audience and encourages you to turn up authentically every single day.
1. Get to know who you want to attract
To be profitable and start attracting the right people, you need to start by knowing who your ideal customers are at the granular level. The more successful you are in communicating with the right audience and relating their concerns and desires, the more sales you can make.
Being incredibly clear about who your ideal consumers are required moving beyond demographics to really consider the psychological and emotional factors that influence their lives, which in turn, decide their buying decisions.
The more you understand your audience, the more powerful your message will be because you will have the ability to communicate directly to them. They will actually feel seen and heard. Pricing becomes less crucial when they see you as the best solution to a particular problem or when they need it.
For example, it’s not nearly as powerful or successful in claiming that you’re selling a program for women who want to lose some weight, which is commonly used to say that you’re helping busy women over 40 who are discouraged with pursuing low-carb high-fat diets without long-lasting outcomes lose weight. Not only is the above version much more informative, but it also refers to a very particular pain point, which ensures that these women can feel an immediate sense of acknowledgment and understanding.
2. Avoid undercharging your services
Many entrepreneurs are overburdened for their services because they feel they need to establish a good reputation or have a wide audience before they can charge high rates.
However, in reality, lowering your prices could end up damaging your credibility. If you create an audience focused on customers who are searching for a cheaper alternative, it will be very hard for you to make sales once you increase your prices.
If you want to start attracting consumers who can afford your services as an online coach, you need to start charging the right price instead. Trying to market service by being the cheapest alternative out there is going to be a race to the bottom. After all, there will always be someone on the market at a lower price.
Instead, you want to set the price on the basis of the value you are offering. First, to make this estimate, decide what the outcome of the outcomes you are helping to produce is worth.
3. Place yourself as…
Attracting the right customers often means effectively positioning yourself as an expert or leader in your field by developing a powerful brand strategy that will enable you to be intentional with your marketing.
Building a successful brand strategy requires total clarity about who you are, what you stand for, and the full knowledge that comes from being in touch with your company.
It is important to provide a well-defined brand message that clearly communicates your importance by demonstrating the actual result that you are helping your clients achieve. What you have to ask yourself, as a business chief, is:
What am I selling?
Because I can tell you that it’s a lot more than the service you’re offering them. It’s just about the transformation, the outcome, and the outcomes of recruiting you.
Focus your brand communication on them, not on you. Many service providers make the mistake of saying things like “I am a web designer,” or I am a fitness coach” to clarify to others the kind of service they offer. If they do this, they concentrate on themselves instead of on the needs of their audience.
Instead, you want to change your message to represent the outcome you are helping others achieve. For example, saying, “I build websites that increase conversions” or “I help women lose those stubborn 10 lbs” is more relevant to the results you produce.
4. True Brand Gap
Although market saturation indeed seems to be at its height, in fact, this is only an illusion.
The real concern is not that there are so many suppliers and rivals in the market, but most entrepreneurs do not know how to effectively separate themselves from others.
To attract the right audience, you must place your offer as the best solution and ideal vehicle prospects for success. One of the best ways to do this is to build a structure, technique, or process unique to your market, a signature system that distinguishes you and sets you apart from the rest.
Besides, according to the hypothesis put forward by George A. Akerlof, winner of the 2001 Nobel Prize in Economics, and Rachel E. Kranton, professor of Economics at Duke University, in their book Identity Economics, people make economic decisions based not just on financial incentives, but also on their identity.
This matters to you as an entrepreneur because if you want to attract the right people, you need to successfully separate yourself from others when standing up for something in the process. Consumers today are making more and more choices based on their identities and how others form their identities. This means that when faced with several different choices, we prefer to choose the one that better reinforces our beliefs.
If you, as a company, don’t do an outstanding job of simply and briefly explaining who you are, then you make it too difficult for the right people to choose you.
Attracting the right people comes down to making sure that the message is highly deliberate and the way this message comes across. This helps you turn your audience’s view while bringing the right people into your company. Taking the time to work out your full brand strategy will help you produce more successful marketing campaigns.