Throwing More Money at Marketing Will Not Solve Your Marketing Problem
It is ironic how many business owners decide that what they need is “marketing”. So, they go and hire a marketing team (outsourced or internal). Then after spending thousands of dollars, they wonder what went wrong. I mean they are running ads, they’ve jumped on the Insta and Tik Tok bandwagon…where are the new clients?
The Owner never took the time to be strategic, to really understand their place in the market. They did not determine how to actually own that space in their client’s mind. It starts with Your Market Dominating Position. This is a strategic position where the value you deliver aligns with what your clients want in a unique way that helps them trust you and your recommendations rapidly.
- It is not that you are a wealth advisor (no one cares).
- It is not that you are a business attorney (no one cares).
- It is not that you are a painter, plumber, or candlestick maker.
Your client has a problem, and they want a solution. The Problem they want to solve is not that they need a wealth advisor. They’ve already decided to look at that. Their problem is how do they find one that will speak to them and not down to them? How do they know that the advisor is working for them and not the commissions? Heck, how do they know the advisor isn’t another Bernie Madoff? How do you solve THAT problem?
If you are a plumber, they know they need a plumber. But have you seen the stuff plumbers walk in every day? Do you want that in your house? There are some plumbers that demonstrate concern for the home by putting booties on to protect the homeowners floors when they enter, alleviating that concern. Or we’ve all heard stories about plumbers (and other trades) that upsell inappropriately or that make things worse. How do you solve THAT problem?
That is why you start with your Market Dominating Position. It separates you from all the rest. It is not a platitude like Quality, Expertise, or we are Bonded. It connects with the emotional hot buttons of your clients.
And your outside marketing expert will never get that, unless you as the owner gets it. You have to know your client’s problem better than your clients do. When you can articulate it better than they can, they know that you know the solution.
Take the time, invest the energy to get really clear on your Market Dominating Position, and then see what happens when you promote your business. If you would like some help with your Market Dominating Position (MDP), consider joining the class starting in January 2022. You can embrace your (MDP) and generate new clients, new revenue, and new profits, WITHOUT spending more money on marketing and advertising.