My Marketing Path

Posted on February 21, 2008 - Filed Under Business |

Part 1 of 2

Some things have been learned but before I share with the class, some basic terminology and methodology has to be explained.

By the by, before I begin, would anyone care for a drink?

Theory

Entrepreneurs want their customers to follow a specific path. The path I’m speaking about is the steps from being a casual “browser” and becoming a “paying customer”. In general it looks like this.

Suspect* - the target market
Prospect - a suspect who accepts a free offer or incentive
Client - a prospect who purchases
Champion - a client who promotes your services to another

We get them to follow this path by (1) educating them and (2) offering them incentives. By “incentives”, I’m referring to anything which may be free. People like the word “Free”.

If you’re feeling a little dizzy that’s ok; the first drink is usually the strongest.

Case Study

Let’s invent a typical conversation one might witness. We find ourselves in a popular clothing store called Gracy’s.

Employee: Hello, Welcome to Gracy’s. Can I help you find something?
Lady: No thanks, I’m just browsing.

Here the lady is at the first step “Suspect”. She’s in the “target market” which is (1) has a heartbeat (2) has a charge card (3) slurping on her Harbucks.

Employee: OK. If you need anything my name is Broomhilda. Just to let you know: today is our 25% off day.
Lady: Crikey! That’s awesome!

The ;ady was informed about the incentive. At that point, Lady changed from being a Suspect to being a Prospect. Her charge card is now burning a hole in her pocket will be used for a wise purchase.

Later on Lady is standing at the cash register, clothes piled on the counter, and a cell phone surgically attached to her head.

Lady: Yes I saw your sweater here. It’s 25% off today only. You need to get it!

The Lady had become a client, by purchasing the items. Then she became a champion by encouraging her friend to take advantage of the sale.

Clear as mud?

Summary

The objective: moving someone from suspect to client and, preferably, champion. Fortunately the Duct Tape Marketing and the 4HWW have a map, showing how to move from step to step.

Tomorrow I talk about how I’m going to get my customers to move from Suspect to Prospect.

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The planning of the back house is underway.

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