Ever heard that saying you can’t be all things to all people? And not everyone is going to like you? Well there is much truth in this, especially in how you market and promote your brand and business.
I talk to a lot of business owners about who their ideal target market is, and the type of person who currently buys their products and services. Often there is a response of “we try to cater and appeal to all people”.
Trying to appeal to all people is generally a business’s worst nightmare. We see it with restaurants all the time, particularly when they try to have an extensive menu that covers a lot of different styles of food as they endeavour to please everyone, but often they find that some people STILL leave unsatisfied or unhappy at the end of the day.
Trying to appeal to all people is not only costly from a marketing perspective, but also from a stock keeping perspective, from a customer confusion perspective, and from a staffing perspective. Finding a niche and a point of differentiation in your market place is often what’s required to gain you the respect of a loyal and regular customer base, not being everything to everyone.
As with all things, playing to your strengths and honing in on what you are good at can set you up for business success. Why? Because you can focus all your staff training, customer communications, and marketing towards the things you do well.
If you want to be known for bespoke cocktails or mouth-watering seafood, stick with that! Get laser focused about it and concentrate on what you do really well. This will ensure that your customers know and appreciate you for what you are good at, and it will provide consistent messaging for all forms of communication.
So how do you map out who you are and what you do well? Firstly, have a strategy session and map out the top three to five selling points for your venue. Hone in on what it is that is great about these selling points. Is it that the customer loves the product? Does it give you high profit margin? Is it easy to sell?
Then secondly look at what makes you money. I know that not everyone wants to think bottom line, but you need to focus on this to have a profitable business and to keep doing what you love on the daily.
Then tie your top three selling points together with your top three money making endeavours and look at how you can build your brand around that. Getting clear, very clear and laser focused on your needs, and on what your customers’ needs are will help you run a more viable and profitable business in the long run.
And don’t be afraid to ask your customers what they love about your products and services. You can also ask your staff and your friends because they will likely uncover things you may not have even thought of yet.
Kate Bickford MD & Owner - BK AGENCY: