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HOW TO BUILD A MULTI-MILLION DOLLAR

BUSINESSYour Step-by-Step Marketing Roadmap

TARGET CUSTOMER HOW TO MAKE SURE

YOU SELECT THE RIGHT TARGET MARKET

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Copyright 2017 E-Learning Marketing System™

Target Customer – How to Identify Your Perfect Target Market: Part 1

TARGET CUSTOMER

HOW TO MAKE SURE YOU SELECT THE RIGHT TARGET MARKET

INTRODUCTION ............................................................................................................................................ 1

SELECT A NICHE MARKET THAT YOU CAN DOMINATE ........................................................... 4

HOW TO IDENTIFY AND SELECT AN APPROPRIATE NICHE MARKET............................... 7

CONSIDER YOUR TARGET CUSTOMER WHEN IDENTIFYING YOUR NICHE ................... 12

HOW TO SELECT THE RIGHT NICHE FOR YOUR BUSINESS ..................................................18

WHAT PROSPECTS WANT ....................................................................................................................25

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Copyright 2017 1 E-Learning Marketing System™

Target Customer – How To Make Sure You Select The Right Target Market

This presentation will continue our process of developing your Target Customer Profile, a critically important business fundamental that directly impacts the ul-timate success of your business.

We have previously discussed the importance of separating your business from your competition. You must stand out from the crowd. This means your business must become unique. But how do you do that? That’s what this presentation is all about. Let me begin with an excellent example. Although theater box office revenue has increased year to year, when adjusted for inflation, overall revenue has dropped substantially to the present day.

Movie theaters are hurting financially, and many of them are now scrambling for additional ways to drive in revenue. In other words, smart theater owners are moving their theaters into specific niche markets and catering to a very select group of theater-goers.

Now you may be asking why this doesn’t hurt their total revenue. After all, if they cater to a specific niche market, aren’t they distancing themselves from the larger whole? In a word; YES! But here’s the concept most small business owners fail to grasp.

When you niche your business into a narrowly defined market, you become unique, and you therefore instantly attract everyone that niche market appeals to. In other words, you wind up attracting EVERYONE in that niche.

Many niche markets have a substantial number of prospects just waiting for a business to cater to their specific individual needs. Let me give you just a few examples how theater owners are accomplishing this feat.

INTRODUCTION

NOTES: (click below to add)



The Academy Theater in Portland Oregon is a second run theater that was ren-ovated and restored to its original glory in 2006. The average ticket price at this theater is only $4. It now offers its patrons sushi, fresh salads, Flying Pie pizza by the slice and Nathan’s hot dogs. Drink-wise it offers organic juices and 10 local microbrews on tap.

Obviously this theater is creating a niche market around young urbanites by offering such a variety of choices. However, think for a moment what might possibly keep young urban families from attending a movie. The answer - their kids. So the Academy Theater also offers babysitting services, and the cost is only $7.50 per movie. Why haven’t more theaters thought of this? But listen to this one. Talk about a niche market.

The Theaters at Canal Place in New Orleans caters specifically to the art house crowd. They charge a flat entry fee of $14 on weekends for unlimited viewings. They have separate and distinct screening rooms which have between 50 and 70 reclining leather seats and has been outfitted for all-digital projection.

Local chef Adolfo Garcia created a Mediterranean-inspired menu that includes a Spanish muffuletta sandwich and a glazed duck salad, delivered to your table with a simple press of the call button. Wine is also available and brought to your seat upon request.

These theaters are not only surviving, they’re thriving. And yet, they appeal to less than 10% of the total movie-going public. But since they give their niche prospects exactly what they want, they attract all the prospects in that mar-ket, and those numbers dwarf what they would attract as a typical offer-every-one-everything type of theater.

INTRODUCTION




As a small business owner, you MUST do this exact same thing, and this presenta-tion is going to help you do exactly that. We’re going to create that uniqueness by helping you to carefully select the niche market that resonates the most with your target customer, as well as with your individual passion. This may be the single, most important exercise you ever perform as a small business owner. Your entire marketing program depends on you selecting the proper niche market.

Take a look at your competitors marketing. I’ll bet it looks exactly like your mar-keting. In fact, most ads today say the exact same things - we offer the best price; we provide our customers with excellent quality; we offer only the best customer service; we’ve been in business for 25 years and so on.

The problem is that when you look and say the same things as your competition, you’re doomed to forever compete on price. Every human being on the planet wants the “best deal.”

Fortunately, the best deal doesn’t mean the lowest price. In fact, survey after survey consistently rank price as one of the last things your prospects consider. The problem is that when you say the same things as your competition, prospects have no way to tell who really offers the best deal, so they naturally default to the business that offers the lowest price.

What prospects are really looking for is “value.” Which business will offer them more value in relation to the price they’re being asked to pay? Your prospects will pay you a much higher price as long as they feel the value they receive is greater than the price you charge.

INTRODUCTION




The ONLY way small business owners can create extraordinary value is to posi-tion their business as being unique, and that requires you to stop trying to be all things to all prospects. You MUST position your business into a very specific and well defined niche market. Once you select that niche market, you will position your business in a league all its own, and your business will become the obvious choice for all prospects who are looking to buy what you sell.

Selecting your niche market makes it easy to pinpoint your target prospects. Then you can create advertising and promotional programs that provide com-pelling offers to motivate these prospects to buy what you sell.

SELECT A NICHE MARKET THAT YOU CAN DOMINATE




For example, consider a personal trainer at a health club. They continuously adver-tise their services by saying that they help people lose weight and get back into shape. Nothing wrong with that, and that’s what they do. But was that message compelling? Did that message literally reach out and grab your attention? Did that message practically force you to request their services? Probably not. In fact, it sounded EXACTLY like what every other personal trainer says they do as well.

But what would happen if I advertised that I was giving away a free e-book ti-tled “How An Extremely Busy Mother Of 3 Lost 19 Pounds Of Ugly Fat In Just 8 Weeks, And How You Can Get The Exact Same Results, Or Even Better.”

Do you think that just might grab the attention of every new mother facing this common problem? Do you think they would instantly request that valuable information? Of course they would. Now suppose that e-book highlighted all the major benefits I provide as a personal trainer that caters exclusively to new mothers, such as a specialized diet plan tailored specifically for their body type and hectic schedule, an exercise plan they can easily do at home while the baby is sleeping, inform them that my club provides babysitting services with staff trained in newborn care, and so on. Think some of these mothers just might want to hire me as their personal trainer.

SELECT A NICHE MARKET THAT YOU

CAN DOMINATE




But consider this? Wouldn’t 95% of the content in that book apply to a broad spectrum of people with similar weight issues? What if I simply altered the ti-tle of that e-book and re-titled it to say “The Only Step-By-Step Fitness And Weight Loss Program Designed Specifically For The Bride-To-Be That’s Guar-anteed To Get You In The Dress Of Your Dreams, And Fast.”

Do you think that might attract some prospective brides-to-be? And what if I altered the title again that read “The Only Step-By-Step Fitness And Weight Loss Program Designed Specifically For Prospective Grooms That’s Guaran-teed To Having You Look As Good As She Does On Your Big Day, And Fast.”

Would this instantly grab the attention of any guy that’s about to take the big plunge? You bet. But why do these illicit a better response than simply saying, “I help people lose weight and get back into shape.” The answer is simple.

Prospects today want to work with the expert. They want to do business with the best of the best. Just saying you help people lose weight and get back into shape sounds like every personal trainer on the planet. So there’s absolutely NO incentive for me to take action, after all, I can get this service just about any-where and from anyone.

But when you start to specify new moms, or brides-to-be, or prospective grooms, you position yourself as the expert in those specific markets, and as a result, you position yourself as the dominant authority, and you’ll win the majority of the business in each of those niche markets. As these examples show, positioning your business into a specific niche market is your key to massive business success.

SELECT A NICHE MARKET THAT YOU

CAN DOMINATE




Previously, we explained the basic process that’s required to help you identify your target customer profile. We discussed the process you need to use to dis-cover their physical and emotional traits, and now it’s time for you to identify and select an appropriate niche market, one that caters to your personal pas-sion while positioning your business as unique.

Let’s quickly recap why a target customer profile is so important for your busi-ness, how selecting a niche market begins to change everything about your business, and how it will enable you to build the business you’ve always wanted.

You first identified your target customer’s physical profile. The physical profile describes the physical traits that make up the entire universe of available pros-pects that need what you sell.

HOW TO IDENTIFY AND SELECT AN APPROPRIATE NICHE MARKET




These traits are important since you will use them later to find your target cus-tomers once you begin marketing to them. But physical traits are only responsi-ble for about 10% of the small business success equation.

The remaining 90% of your success is determined by your target customer’s emotional profile. The emotional profile identifies what it is that all of those available prospects in your universe WANT. We often refer to their emotions as their “hot buttons.”

Hot buttons describe the problems, frustrations, fears and concerns that your prospects have when they buy what you sell. They define the emotions your prospects are experiencing, and it’s those emotions that are attracting them to your product or service as they look for a solution. In most cases, hot buttons are not dependent on an individual business. They tend to be the same for every business in your market.

For example, when you go to the dentist, what immediately comes to mind that you find frustrating or concerned about. Typically, it’s the long wait we’re usually forced to endure when we go to their office for our appointment? And then we get to fill out all the paperwork that we have filled out a hundred times before. How aggravating.

Or when something goes wrong with your car, don’t you feel immediate frus-tration, concern and possibly fear that it will cost you a small fortune to get it repaired, or that the price you pay in the end will dramatically exceed the esti-mate they provided?





Can you see how these hot button issues aren’t related to any specific business, they’re common to the entire industry? Basically, everyone shares in these same emotions whenever these specific situations intrude into their lives. These are the hot buttons that small business owners MUST know, understand and con-quer. This explains why the emotional profile determines the success, or failure of your marketing program.

Since your prospects buy based on emotion, they’re looking for the business that will remove their hot button issues from their lives forever. For the small business owner who does that, they will have a customer for life. That’s why the emotional profile represents 90% of your potential success.

The physical profile defines the prospects that have a logical NEED to use your product or service, whereas the emotional profile defines the prospects that have an emotional reason to buy, and they WANT what you sell.

The moment you know and understand their emotions, you can then create a marketing message that laser targets their emotions, a message that’s powerful and emotionally compelling. This is a message that resonates deeply within your prospects, attracts only those prospects who want what you sell, and compels them to take a specific action.

But that message MUST be specific in order to be effective. And that’s why a spe-cific niche market becomes so valuable. This new marketing message caters to a specific group of prospects, prospects that are looking for your specific solution.





The dentist can’t just say that “my practice offers fast service for the busy patient.” That’s called a platitude, and no one believes them, usually because they turn out to be false. You may go to this dentist and find out that you wait for your appointment just as long as you did at your previous dentist.

When you know and understand the specific emotions that truly resonate with your target customer, you can then create a message that thoroughly compels them to buy what you sell. Imagine our dentist saying something like this in their marketing, “I understand how busy my patients are today, and waiting is the last thing you have time to do. That’s why I offer a No Wait Guarantee for all of my patients. I see every patient within 5 minutes of their arrival, or they don’t pay for their appointment or treatment.”

Now do you believe them? Is that dentist putting their money where their mouth is? Now, it’s the dentist job to innovate their practice to ensure they can easily deliver on that promise? But if they do pull it off, they will easily dominate their market. Waiting is a major emotional hot button for prospects visiting a dentist.

Physically, we all NEED a dentist at some point in our life. But what we WANT from the dentist is to never be forced to wait. We WANT our exact appointment time to be kept and respected. Hopefully you can see the potential impact this type of marketing message can have on your business is enormous, and immediate.

It’s a message that instantly attracts your target customers. And they’re the ones who will spend the most money with you, buy your product or service over a longer period of time, love what you do, share your passion for your work, send you tons of referrals, provide you with unsolicited testimonials, and remain your customer forever.





If you find an auto mechanic who has extremely fair pricing, has always pro-vided you with excellent service and honest estimates, and has never over-charged you in your life, do you ever leave that business to go try someone else? Of course not.

That’s because each of these services are hot button issues for all prospects who need repair work done on their cars. If they find a business that removes these hot button issues from their lives, they will NEVER leave.

It simply comes down to knowing and understanding the emotions that your target customers are experiencing. But as you just witnessed with the auto me-chanic, quite often your target customers WANT several different things from your business. You may have discovered this same thing in your business when you completed your own emotional profile worksheet.

Unfortunately, as we said earlier, most small business owners try to be all things to all people. The result is they become nothing to no one. They now look ex-actly like their competition, and when businesses look identical, prospects have no way whatsoever to tell which business offers them the most value, and that’s when they automatically default to the business offering the lowest price.

That’s the purpose of this presentation, to help you stop trying to be all things to all of your prospects. If you try to be everything to everyone, there is no way for you to prove to your prospects that your business is unique, or that it offers them extraordinary value. Selecting your niche market will change all of this for your business forever.





CONSIDER YOUR TARGET CUSTOMER WHEN IDENTIFYING YOUR NICHE

Previously, you completed your target customer profile form. On the emotional side, you recorded everything your universe of prospects could conceivably WANT from your product or service. You may have listed just one or two things they want, or you may have listed ten. The number doesn’t matter.

What does matter is what YOU want. When you operate a business and you spend your entire day speaking with prospects and working with customers, shouldn’t you enjoy every minute of that time? You owe it to yourself to be happy, and to capitalize on that unmistakable passion you have for what you do. This in turn provides your customers with a unique experience, and extraor-dinary value.




This presentation will help you take the emotional information you listed on your form, and from that list of hot buttons, select the niche market that matches and resonates with your true passion. Let’s look at our previous business examples and discuss the potential niche markets that exist for each business.

Let’s begin with our child care business, and let’s go through the entire process to reinforce the importance of developing your target customer profile.

Physically, we earlier identified the target child care customer as either male or female, 21 to 45 years old, single or married, 1 to 3 kids between the ages of 3 months up to 5 years old, employed outside the home and with an annual in-come somewhere between $20,000 and $250,000 per year.

In other words, any human being with kids under 6 that works outside the home, and doesn’t have a friend or relative that can watch them during the day NEEDS the services of a child care facility. But then we asked ourselves this.

What do those parents WANT? What is their emotional profile? What are their hot buttons? What are their problems, fears, frustrations or concerns they have as they begin to face the reality that their situation is forcing them to place their young child into the custody of strangers?

CONSIDER YOUR TARGET CUSTOMER WHEN

IDENTIFYING YOUR NICHE




What are they experiencing emotionally? Better yet, ask yourself, what would YOU be experiencing? I want to stop here and again, strongly and emphatically emphasize a major point. We constantly tell small business owners every day that one of the most important skills they can learn and perfect is the ability to temporarily suspend their mindset, and cultivate their ability to step into the mindset of their target customer. This is crucial to the success of your business that you master this skill.

One of the biggest factors for small business failure is what I refer to as the “Curse of Knowledge.” As a business owner, you obviously know every facet of your business. That’s often a curse, because you know too much, and you tend to make assumptions. You assume your prospects know what you know. Making those assumptions can destroy you as a small business owner.

You MUST learn to think like your prospects think. Just ask yourself, what’s really going through their minds? What are they feeling and experiencing emotionally? What hot button issues are in play? What problems, fears, anxieties, frustrations and concerns are they facing as they try to decide whether or not they will buy what you sell.

When you created your physical profile, we asked you to consider three differ-ent types of customers. We asked you to begin with your youngest possible customer, then a customer that fell in the mid-range of your age bracket, and finally a customer in the upper age bracket.






If you sell to other businesses, we asked you to consider the age of the business and the size of it, both in terms of revenue and employees. The reason we asked you to segregate them in this manner is the simple fact that often, these differ-ent segments want completely different things from your business.

In child care, look at the physical profile. Consider the available universe of human beings that need child care. You see entirely different age levels represented here, and they each want different things.

The younger parents have just started working and find themselves in entry level jobs, making entry level wages. Their total annual income may be in the range of only $40,000 or so. Young parents as a rule don’t have a lot of money, so they WANT child care that’s affordable. Emotionally, price will be their main consideration. That’s their top hot button.

But the 30 year old parent with a child 3 months to 3 years of age may have recently been promoted to a manager at their company, and they now have an annual household income of $70,000. They would WANT child care that would treat their child as if it were the child care staff’s very own child. They would WANT child care that provides a loving, nurturing & caring environment, and they would be willing to pay more to acquire that type of child care.






However, if you were a 40 year old male or female business owner or executive making a comfortable 6 figure annual income, and you had a child that was 3 to 5 years old and rapidly approaching preschool, you would WANT your child to receive some form of primary education that would give your child a head start on their education. You would love to see your child receive beginner reading skills, beginner math skills, or possibly basic computer skills?

The point is, when it comes to child care, there is this single physical universe that NEEDS child care, but within that universe lay a multitude of emotional WANTS that divide that universe into specific niche markets.

It’s imperative that you define these niche markets as they apply to your spe-cific business. But once you do, you must make a choice. You must select the one niche market that you want to specialize in, and the one you passionately resonate with.

It’s time for your business to stop trying to be all things to all people. As a child care owner, it’s time to stop trying to say you offer all three niche markets all customers want, because you don’t. In fact, you CAN’T.

How can you hire staff members with the skills necessary to provide a loving, nurturing environment for kids, and an entirely different staff certified in pre-school education, and then still claim to be the low price leader in your child care market? There’s absolutely no way!






But that’s what child care facilities do every day, all over the country. Their advertising says that they have the highest quality, the lowest prices and well-trained staff. And then they don’t offer definitive proof that they do any of it. Even worse, all of their competition is saying the exact same platitudinal non-sense, and child care prospects don’t believe any of it.

Prospects pick up the phone and call around, then quickly discover that most child care prices are the same. They have the exact same staff to child ratio, they serve the same bland foods, and the TV acts as the primary babysitter. That’s NOT what these parents WANT.

If you were the owner of this child care facility, you must realize there are three different and entirely distinct groups considering your services, each one want-ing something completely different from the others. By selecting just one of these three groups, and then creating child care that specializes in serving ONLY that one specific group, you now have child care that’s unique; that stands out; that has differentiated itself from all its competitors.

Yes, you’re deliberately choosing to leave the other two groups on the sideline, but for those prospects who fall into the niche market you selected, you will attract every one of them. After all, you have exactly what they WANT. None of the other child cares facilities do. Now, here’s your dilemma.






Which of the three segments do you select as your niche market? Which one becomes the single focus for your business? Although this is always an individ-ual choice based on the preference of the business owner, here’s our personal recommendation.

Never make this decision based solely on the amount of revenue you can make from a specific niche market. Revenue is an important factor; just don’t let it be-come the sole factor in your final decision. Look over the available niche markets on your list and select the one that most resonates with your individual passion.

HOW TO SELECT THE RIGHT NICHE FOR YOUR BUSINESS




Which one excites you the most? Which one are you willing to dedicate your life to, the one that you will wake up every morning and can’t wait to get to work? Which one will cause you to wake up thinking about what you do, and go to bed each night thinking those same thoughts?

Passion is the key to selecting your niche market. Without it, you will hate what you do and resent those you serve. If you let money alone dictate your choice, you will feel no passion for your labors. Life is simply too short to sacrifice your joy and happiness for a few extra dollars.

As a rule, when you follow your passion, money often comes along for the ride. When you’re passionate about what you do, you’re constantly thinking up new ways to innovate, improve and build upon your business. This in turn attracts more and more customers, and adds additional revenue and profit to your bottom line.

If you were this child care owner, you need to ask yourself where your passion lies. Do you have a passion for wanting to help young parents faced with the bleak prospect of placing their young child into a child care situation? Would you find unbridled pleasure in providing a low cost option to young parents that, even though you’re forced to provide them with just the bare essentials in order to keep the price low, you’re able to offer them enough services to provide those parents with complete peace of mind when they drop their child off every day?

However, consider one other variable besides passion when choosing your niche market. Ask yourself if you have any special advantages to offer that niche mar-ket. These advantages should take into account your education. Do you have some form of special training or a degree that your competition doesn’t possess?





What about your past experience? Have you done something in the past that gives your business a substantial advantage over your competitors? Are there any price advantages you have that your competition doesn’t, such as special deals, an exclusive wholesale supplier, or some form of acquisition that your competition can’t match?

As an example, let’s say you have a passion for providing the low cost child care option to young parents. You find that you actually have a competitive advan-tage when it comes to offering this low cost option. You recently inherited a 2 story brick building from a deceased relative, and the building is mortgage free.

And as an added bonus, this building requires little modification in order to house a child care center. Since you have no mortgage payment that must be factored into your expenses, you have an economic advantage that other area child care facilities can’t match.

On top of that, this building sits squarely in the middle of a major office complex where the location alone will bring you as many customers as you can handle, without incurring any advertising expense.

These competitive advantages, matched up with your passion for wanting to provide a low cost child care service to young parents in your community, offers you the best of both worlds.

But what if you have a passion for wanting to provide a loving, nurturing envi-ronment as your niche market? Ask yourself what competitive advantages do you possess, if any, in this area?





Perhaps you have a degree in health and nutrition, and you have the unique talent and ability to create a child care facility that specializes in nutritional-ly-designed meals. You also have the means to offer child care with a low staff-to-child ratio that ensures the kids get more individual attention. And because of your specialized training, you’re able to offer child care that requires the staff to attend monthly safety and CPR training classes you’re capable of teaching.

In this case, you considered your passion first, but then your background and past experience act to complement your passion by giving you a competitive advantage that other child care facilities simply can’t match. What parent look-ing for a loving, nurturing environment wouldn’t want child care run by a certi-fied nutritionist and health care practitioner?

But what if your passion was to provide child care that specializes in educational opportunities? In this case, you may find a competitive advantage exists since you have a degree in primary educational development, and you know others in this field who are themselves young mothers, mothers who would be delighted to have an opportunity where they could teach part time, earn some additional income for their family, and never have to spend time away from their own child.

Their child could attend the same facility and have other kids their age to play with. Matching your passion with your competitive advantage would give you a huge competitive edge in this market.





But please remember, selecting your niche market should always take into con-sideration your passion, first and foremost. ONLY then should you look at the competitive advantages you may possess, as a secondary consideration. This same situation applies to the consultant? Their job is to help small business own-ers build the business of their dreams.

Their physical profile includes businesses that sell to both consumers and other businesses.

The businesses that come to them for help can be in start-up mode, developing but they want to develop at a much faster rate, they’re often stuck at a specific plateau and have no idea how to take their business to the next level, or in the current economy, they may find themselves in serious economic trouble and quickly going down for the count.

The typical consultant’s sweet spot would be businesses with fewer than 20 employees, they have a viable business concept if they’re just starting up, and their gross revenue in most cases is zero to $3 million. So physically, a con-sultant’s universe is essentially any small business under $3 million in annual revenue. Today, that’s around thirty million businesses in just the US alone.

But emotionally, they have to know what these 30 million businesses want. What are the emotional hot buttons that represent their problems, frustrations and concerns as they operate their businesses every day? What is it they want the consultant to do to solve their problems or eliminate their fears and concerns?





The startup and the one year old business usually need to bring in some quick revenue. At this stage of business, each day is a struggle to simply survive, so they want the consultant to help them make more money, and fast. That’s their top hot button issue.

The mid-size business, around 5 years old with $1 million in revenue and five to fifteen employees, wants the consultant to help them build their business. Now that they’re established, they want help developing a sustainable process that sets their business up for long term success.

The larger and older businesses often have their systems and processes in place. This business owner wants the consultant to help them replace themselves so they have more free time instead of living on the job 24/7/365 in order to ensure their business doesn’t implode if they aren’t there.

As a small business owner, your job is to identify and define the most important hot buttons that top the list for your business. In other words, the top needs and wants that attract prospects to look to your business as the solution to their major problem, frustration or concern.

This is what we asked you to do with the forms in your workbook. We asked that you review your hot buttons, prioritize them, and begin to make this all important decision as to the niche market that will serve YOUR passion. Be sure to take into account any competitive advantages you may have for that niche market.





The smart business owner will list all of their target customer’s emotional com-ponents, and then select JUST the one that resonates the most with them per-sonally. In other words, the one the business owner feels the most passionate about. This is absolutely crucial that you do this if you truly want to create a highly successful business.





It all comes down to this. All prospects today want to feel special. They want to feel as though they’re dealing with the expert that can help them solve their problems, concerns and frustrations once and for all.

They want a business that stands out from everyone else who offers a simi-lar product or service. In other word, they want a business that’s unique. They want a business they feel understands them, caters to them, and offers them extraordinary value. They’re also willing to pay a higher price to get this special treatment, as long as the value they receive exceeds the price they will pay. And finally, they want a business that clearly communicates to them the uniqueness and value they will receive.

WHAT PROSPECTS WANT




For the business that does all of this, prospects will show up in droves. The business that’s unique, offers exceptional and extraordinary value and clearly communicates these benefits has the unprecedented opportunity to totally and completely dominate their entire market.

Do you now understand why we’ve been stressing the importance of the emo-tional profile, stressing that emotions are 90% of the small business success equation? The emotions identify what your target customers really WANT when they go to buy what you sell.

And when you not only give them what they want, but you give it to them in a unique way that’s loaded with value, you have just made your business the obvious choice for them to buy from. The decision to use your business over all of your competitors is now a no-brainer decision.

This is how we help small business owners all over the world build highly suc-cessful businesses. All you have to do is follow the process we’re teaching you. But you MUST start here; you must develop your target customer profile. Your previous assignment was to identify each and every one of your target cus-tomer’s emotions, also known as their hot buttons. If you did, you revealed the potential niche markets that exist for your business.

Your business may only have one hot button, or it may have ten. Most often there are multiple hot buttons present. In that case, it’s your job to select the one that you have a true passion for serving, and make that hot button your niche market.

WHAT PROSPECTS WANT




I want you to go back and review your previous physical profile, and then review the list you created for your emotional profile. I want you to feel comfortable that you have identified every available niche market for your business.

Use the examples in your workbook, and then transfer both your physical and emotional information into your updated worksheet. List the physical traits in the box at the top and the emotional traits in the box on the right, just like we did in the examples.

If you’re struggling to identify the hot buttons for your target customer, then try asking them directly. Interview them, and ask your current customers what they want from a business like yours, or ask prospective customers if you’re a start up and currently don’t have any actual customers. Ask them to tell you their biggest problem, frustration or concern they have when they buy what you sell.

Even if you believe you DO know what those hot buttons are, consider verifying them with your target customers. You may discover that you were off the mark in the first place, or you’ll discover you had the hot buttons in the wrong order of priority. Most small business owner’s list low price as hot button number one, only to discover after speaking with their customers that price wasn’t even a factor in their final decision.

WHAT PROSPECTS WANT


BUSINESS-TO-CONSUMER (B2C)PHYSICAL PROFILE

Business Name: __________________________________________________

Address: ________________________________________________________

City: ___________________ State: ____ Zip: _______ Country: _______

Phone: _________________ Email: __________________________________

1. Marital Status: Single Married Separated Divorced Widowed

2. Gender: Male Female 3. Spouse/Partner: ___________________

4. Age: _____ 5. Birthday: __________ 6. Children: ________________

7. Yearly Income: $0–$25,000 $25,001–$50,000 $50,001–$75,000

$75,001–$100,000 $100,001–$125,000 $125,001+

8. Education Level: ________________________________________________

9. Job Title / Position: _____________________________________________

10. What are their typical buying patterns? _____________________________

11. What do they purchase prior to what you sell?

12. What related products / services do they purchase?

Notes:

(Month / Day)



Once you feel comfortable that all the hot buttons are properly listed, look deep within yourself, and select the one hot button that you feel a passion for provid-ing to your customers. THAT hot button is your niche market. The moment you select it, you separate your business from every other business that sells what you sell. You become unique, and you stand out from the crowd. You no longer belong to the “me too” club.

WHAT PROSPECTS WANT

Revised Physical Description

Physical Description

Emotional Description

Your Niche Market

Which want meets your “Passion”?

What do they Want?




Everything will now begin to change for your business. You will market your business differently. You will create entirely different messaging, messaging that will laser target that one specific hot button for your target customer versus messaging that says you’re the same as everyone else. The way you talk to pros-pects and customers will also change, and all of this will begin to attract your target customers en masse.

Next, we’ll complete the development process for your target customer profile by revising your physical information to reflect your new target customer in your selected niche market. This will be the final step in identifying your target customer, and it will massively benefit your business when you complete it.

WHAT PROSPECTS WANT




As always, our main purpose for this presentation is to help you continue to develop the solid foundation required to build a highly successful business. That foundation demands that you know and understand who it is that rep-resents your target customer.

We highlighted the two major factors that identify your target customer, their physical profile and their emotional profile. Knowing your target customer’s phys-ical profile, while very important, only identifies those who NEED what you sell.

The emotional profile identifies those who WANT what you sell. It identifies your target customer’s hot buttons. When you know and understand their emotions, you also know and understand how to compel them to buy from you by appeal-ing to their emotions.

RECAP

* SELECT A NICHE MARKET THAT YOU CAN DOMINATE

* HOW TO IDENTIFY AND SELECT AN APPROPRIATE NICHE MARKET

* CONSIDER YOUR TARGET CUSTOMER WHEN IDENTIFYING YOUR NICHE

* HOW TO SELECT THE RIGHT NICHE FOR YOUR BUSINESS

* WHAT PROSPECTS WANT

(Click on any title above to return to that section)




By hitting their hot buttons, your prospects will pay attention to your message and want to buy what you sell because it solves a major problem, concern or frustration that has intruded into their lives.

Having an accurate emotional profile is the key step to eventually creating and developing a highly successful business, one that’s unique, provides exceptional and extraordinary value and can effectively communicate its uniqueness and value to its prospects.

The real key to creating this type of business is for you to look over those hot buttons in your emotional profile and select just the one that most resonates with your passion. That selection becomes your niche market. Once you make this selection, you position your business as being unique. You stop being all things to all people, and you have now positioned yourself and your business as the expert within your niche market.

You will eventually convey this uniqueness in your marketing program, a mar-keting program that generates real results by providing the powerful and com-pelling information needed to reach your prospects emotionally.

Please remember that we’re developing a process for your specific business, a process that you will be able to duplicate over and over, far into the future.

So take your time and transfer all of your physical and emotional information into the worksheet in your workbook. Select your niche market, and then record your choice in the lower box on that worksheet.

RECAP

* SELECT A NICHE MARKET THAT YOU CAN DOMINATE

* HOW TO IDENTIFY AND SELECT AN APPROPRIATE NICHE MARKET

* CONSIDER YOUR TARGET CUSTOMER WHEN IDENTIFYING YOUR NICHE

* HOW TO SELECT THE RIGHT NICHE FOR YOUR BUSINESS

* WHAT PROSPECTS WANT




We’ll complete this form by refining your physical profile to fit your specific niche market. This refinement will solidify your target customer in your mind, and make it simple and easy for you to identify and communicate with them.

By developing this level of specificity, you will soon be able to create the right message for the right market – and you will then begin to dominate your industry.

Remember that a primary goal in the E-Learning Marketing System is to help you quickly develop the processes that will bring more revenue into your busi-ness. Each presentation brings us closer to accomplishing that goal.

So until next time, here’s to your success.

NEXT PRESENTATION


WEEK #06

YOUR COMPANION VIDEO LESSON

HOW WE MAKE SURE YOU SELECT YOUR IDEAL TARGET MARKET

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