Did you get to take archery in gym class when you were a kid? I did. I really liked it. It's a skill thing more than a competitive thing and I like skill things. The archery field was well beyond the field hockey, football and soccer fields and nearly in the woods - probably for reasons dictated by liability insurance.
As the teacher lined the class up across from our targets, we could hardly wait to start slinging arrows. But first we had to listen as he went over the safety rules. Then we had to wait as he demonstrated how to load the bow, draw it back properly, take aim and shoot. Only after enduring this torturously slow process (which took about 15 minutes) were we actually given arrows to shoot.
Imagine the results if the teacher brought the class to the archery field and, with no instruction, told us to do our best?
Eventually a target or two might get hit. But far more often, arrows would wind up in the ground, lodged in nearby trees or whizzing past small animals and innocent bystanders with someone most likely getting hurt.
I think you'll agree that this is not a very effective or satisfying way to practice archery and yet it is the exact approach many business owners take towards marketing.
Arrows are one thing and dollars are another. If you are like most business owners, you are in the perpetual hunt for a greater return on your marketing investments. Even if you are fortunate enough to have unlimited dollars to spend on marketing, you won't have them for long if you spend them haphazardly.
To hit your targets, you must first be clear about what and where they are before you begin launching your marketing arrows at them. Figuring this out is not an event; it's a process that will evolve as your business evolves but is worth the time it takes to do it well for two important reasons:
1. It will save you lots of time and money otherwise spent on ineffective tactics.
2. It is more likely to bring you a steady stream of revenue in the form of repeat business versus the feast or famine flow that is all too familiar to many small business owners.
Here are just a few market analysis questions you'll want to ask yourself and revisit from time to time. I recommend applying these questions to your business overall as well as to each new product or service you intend to add to the mix.
What are the top products and services I sell? What is the single most important thing for someone to know about these products and services? What consequences will my customers suffer if they didn't know this? What sort of concerns keep my clients awake at night? What causes them to be afraid or angry? What do they secretly want more than anything? Who else has the same thing to offer them and how do they offer it?
Exploring questions like these will help you properly align your purpose and passion with your target. Only then does it make sense to draw back your marketing bow and start launching arrows in the form of email, blogging, direct mail, advertising, public speaking or any of a dozen other methods to get the attention of your audience and attract them towards you.
The temptation to employ a "ready, fire, aim" method lies in the allure of instant gratification. This is especially appealing if you are prone to the satisfaction that comes from crossing things off a to-do list.
Be strong and resist the beast! I promise that your rewards in cash flow paradise will be greater if you do.
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