Sandy Waggett compares two client types: Mike, 28, chases the newest offerings for status; Cheryl, 40-something, wants to outsource and save time. Cheryl has higher loyalty and lifetime value, so target your marketing toward clients like her.
Chapters
Good morning everyone. Sandy Waggett with MSW Interactive Designs here with another quick marketing tip. Last week at the Business Academy I.
Talked about how to define your ideal client. We went through an exercise and I thought I'd share an example that came.
Up and I'll just use it in.
The context of my own business. So let's say I've got two particular clients, both that are pretty profitable for me.
But I have to define which one.
I want to truly market to and I want to determine which one has the the most value over the course of the lifetime of our relationship.
So let's start with.
I've got a guy named Mike who's 28 years old, he's single, he owns his own business, he's a real hard charger, he's motivated by status. The best, the shiniest, the newest. Look at me.
And then I got Cheryl, who's a 40 something mom with two kids in.
High school sports, running all over the place and she owns her own business. She is motivated by the oh my God, please save me time, please, please.
Do it for me. I don't have time for this. So I've got Mike over here and Cheryl over here. Which one of those two clients has.
The highest lifetime value to my business?
Well, you have to answer that for yourself, but for me it would be Cheryl because there's a lot of loyalty there.
Why does that matter?
Well, it matters because we all have.
A pod of marketing dollars to invest.
And those two individuals are, are motivated by two very different things. And that means that the marketing message.
Your ad copy, your radio copy, your.
Billboards, whatever it is that you're putting.
Money at and investing your marketing dollars.
At, the message needs to be geared.
Toward the right people.
The same message will not resonate with.
Both of those people.
So if you take the time to define which of those really good clients has the highest lifetime value to your business, you can hone your marketing message.
And spend your marketing dollars on that ad that's targeting that in. So for me it's the 40 year.
Old mom that just wants somebody to.
Take care of it for her.
Not the real do it yourselfer. Super motivated, highly polished, great client for sure. But Cheryl over here has the longest.
And highest lifetime dollar value for the company. So that's where I'm going to hone my message and spend my marketing dollars and trying to get to Cheryl and people just like Cheryl.
So I hope that helps you, gives.
You some good advice. Have a great day.
Sandy Waggett with MSW Interactive Design signing off.
