Showing posts with label Target Market. Show all posts
Showing posts with label Target Market. Show all posts

Friday, 12 August 2011

An Innovative Way to Get in Front of Clients

I had to smile today as I enjoyed my green tea and a scan through my emails.  I love when people start taking innovative actions when times get tough.

Humans never move when they are comfortable but watch them go when times get tough.

I loved what we can learn from an innovative way hotels are getting more guests in beds.

As it gets harder to sell hotel beds as less people travel the globe due to factors such as technology advances bringing people together virtually, a greater consciousness of the ecological damage the travel industry brings to the planet and overall the financial crunch means less spending in general.

So hotels are needing to get smarter.


We can learn a lot from this industry because therapists have exactly the same problem hotels have.  At the end of each day, any beds not filled are never available to sell again on that day.  Yes they can sell tomorrow’s beds, but today’s beds are never available again.

Treatment rooms or consults are the same.  If you didn’t fill yesterday’s diary - the opportunity to get revenue from those spots has gone.  So watching the way hotels think and market is a good habit to get into.

Springwise had a link to a service that scans twitter and picks up on destinations people have mentioned in their tweets.  The hotel sends those people some local area knowledge or a discounted room offer to that twitter account. 

Some hotels are reporting a 9% uptake on their direct twitter offers.  This is huge as most direct campaigns would celebrate if they got a 2-3% response.

Why the big difference?

They are adding value, saving their customers time and solving a problem for their clients. 

In some instances they are solving a problem before the client even thought too hard about fixing it.

This is marketing genius which you can replicate on a smaller scale.

It's our equivalent of dropping a flyer on the bedside table of someone who is about to get out of bed and complain of an ache and pain or emotional deficiency.  They are delivering a solution at a time of pain. 

Humans are lazy creatures.  

In most instances if a suitable solution comes their way at a price and service level suitable to them .... they will most likely take it.

The reason this campaign by hotels is working is because this is very targeted marketing.  The hotel knows its customers well and presents only one solution to their problem - a room in a hotel in the city they are visiting in the near future. 

Its your classic WHO & WHAT situation.  They know WHO their customers are and WHAT those customer want.

These hotels are getting under the noses of people solving problems AND saving them time.

How can you do that?


If you are very clear WHO you work with - simply figure out where your people are hanging out - what their problems are on a daily basis and get yourself, your message and your offerings in front of them, at a time when they are thinking about their problem.

People with a certain problem start seeking solutions in similar places


The golden question to answer is .... where do your people hang out????


But an even better question is ..... who else has my people?  This is the question the hotel has answered - they have figured out that their customers tweet their travel plans out to their network. 

Do people tweet or facebook their problems on a daily basis - YOU BET!  If you exactly solve their particular problem, then a simple google search to see if that person has a public profile and you could drop one of your flyers in the post to them.  It can be that simple.  If you are really brave you could make the offer directly in the post they've made - but truly I find that a bit intrusive.  You must discern what's the right level of contact for you. 

People leave clues everywhere - you need to get your intuitive super power glasses on and start seeing those opportunities everywhere.

It is so much easier to sell something to someone who wants what you’ve got.  You’ve just got to get very creative about figuring out where the problem YOU solve occurs in THEIR life.

For instance, if a child is having a hissy fit on the supermarket floor and the parent looks up and sees a flyer on the notice board for a hissy fit behaviorist or a golfer walks into the club room from a round of golf and finds a person who can improve their swing by loosening up their muscles - I reckon they will be pretty interested in at least hearing about your services.

Where are your people and what are their problems?

Saturday, 11 June 2011

Reversing Your Discount Theory

Most people approach discounts as a way to fill distressed space.  But the masters of discounting take a completely reversed approach to the way they price their products and services.

I remember working in a hotel and they got a new marketing manager who promptly went down to the front desk and stopped the receptionists selling unbooked rooms on the night at a cheap price.  Her logic was - people who haven't booked in advance - they don't have a room booked - they are in pain because all they want is a room - now is the time they will pull out their credit card and pay top dollar because they don't want to phone up or walk to the next hotel to see what is on offer.

Now yes, some people will shop around, but generally if someone is in pain and they want their pain fixed there and then - they will pay whatever it takes to get a result.

I learned a lot about marketing in my other life as a hotel financial controller, because this type of logic showed up directly in the profit line of the hotel's books. 

The airlines and hotels are the masters of  discounting - watch what they do and try to mimic them with the way they sell.  They all discount well in advance - not last minute.

Discounting at the time of consumption is K-Mart territory.

Charging full price at the time of consumption is the domain of hotels and airlines.

As therapists we want to be like the latter not the former.

Its not widely known outside the industry but Hotels and Airlines start to discount a room or seat around 18 months out at events like ATO (Australian Tourism Exchange).  All the tourism brokers from around the world come in and bid on blocks of rooms.  They get the rooms at rock bottom prices but only have access to those rates for a negotiated period of time.  Anything not sold by then, well the hotels take those rooms back and up goes the price.

That's why the tourism industry can do those knock down deals that encourage you to book and buy early.

Then once the hotel knows how many rooms they have left from that discounting exercise, they will put the price up and start either trying to advertise the rooms themselves or they will try to sell them off to other buyers.

All the while the prices go up.

Then closer to the consumption date (the day the room gets used) they offer what's left out on discount sites like Wotif.

Then have you noticed how hard it is to get a deal close to the day of consumption.

If you walk up to an airline counter and want to fly NOW - the price of that ticket will be astronomical, because they know you need to fly that day and that you have few choices at that time .... so they hang out to sell that ticket at a high price.  It also messes with their admin if they have to change the loading of the plane, so guess who pays for the cost of that admin - yep you guessed right - the late booker.

This is the model therapists could consider adopting.  Fill early at discount and fill last minute at a high price.

This is why packages work so well - people buy their session up front and you can then manage any space left over spaces weeks out.

But those packages need to be discounted off what hotels call your "rack rate".  "Rack" is rarely charged to anyone, except if they are trying to book on the day of consumption.  "Rack" is rarely charged but it is always there.

Your price funnel needs to reflect that "rack rate system".

So your top end price will be really high - no one really expects to pay it, but there is always a chance someone will be desperate enough to pay it.  Then your package rates are what you DO expect people to pay.  Then you have another rate, which is the discounted rate, which only gets given out if you haven't sold the top two rates.  That would be what's called "back filling" - dates and times you always struggle to fill.

Wotif is a great example of last minute discounts - I LOVE Wotif but I also know if I want a specific hotel and room type on a specific date - then I better book up front with the hotel and pay the price.

Build on Expertise NOT on Price


The aim of any therapist should be to be building as fast as they can toward being seen as the "go to person" for their particular area.

If people perceive you are head and shoulders above your competition and you are seen by them to be "the best", they will pay more and expect to wait to see you.

It's a delicate balance in the early days between filling those empty diary spaces by opimising your cash flow AND building a high end practice.  But when you start discounting too much, people start to see you like K-Mart - cheap, hi availability and open all hours.  Won't take you long to figure out that will wear you out personally.  
The ideal is hi end, hi demand, hi attendence in the limited spaces your treatment room is open.  That way you are in optimum health and giving 120% to your clients and are not worn out trying to make a dollar seeing heaps of people each week.

In order to push prices higher further down the track, you can't be out discounting every week - and if you do, you need a reason to discount - one airline has Friday Fare Frenzy and its is totally random.  You will notice they RARELY discount their hi end business class seats in these types of offers, they are "back filling" cattle class and keeping the hi end part of their business in tact.

I'd recomend you create a "cattle class" type of treatment for the discounted spots - I say that with love of course, I'm not encouraging you to treat your people like airlines treat their customers - but do have a clear definition between a full fare treatment and a discounted treatment.  That way when your diary is full, you simply pull the discounted treatment off the menu and all those full fare high paying, high tipping, fabulous "A" type clients don't even notice anything has changed.

"C" type clients will always just find someone else - "A" type clients stay loyal and will often book the same spot each week or month and are happy to pay for the privilege of having the same regular time slot.

I want you to have a highly abundant practice full of clients who know and love you and are willing and able to pay your fees, treat you with respect and keep coming back.

Thursday, 22 July 2010

Should a website be a crucial part of your business?


There has been an election declared in Australia this week and already we are hearing politicians do what they do best = answering questions with questions.

So in answering the question – should a website be a crucial part of your business?

I’m going to ask you an even deeper question before I start to go down the website burrow. Not because I’m avoiding the question but because you need to ask yourself a more important question before you even consider a website.

A client was reflecting on a question I asked them at the start of their coaching program recently. They said it really slapped them around the ears because it was something they hadn’t even considered.

It’s the same question you need to ask yourself before you decide if you need a website or not.

The question is ........

“how big do you want your business to be?”


small duck big eggThis is a really basic question every therapist needs to ask themselves before they consider building a business or a website but it rarely gets asked let alone answered.

If you don’t know the answer to the question or if you haven’t even considered whether you want small, medium, large, grande or the super size me option – you are going to be constantly setting things up that won’t work for your business further down the track.


Two truths to be aware of:
  1. You won’t know exactly how big you can go until you start getting a few runs on the board in your practice - I recommend set up to be big at the start just in case things take off... then - at least you are ready.
     
  2. Each year the landscape will change from where you thought you were going 12 months earlier as your business knowledge and confidence grows.
The other truth is - Size does matter!

I was chatting to a friend this week who has just set up a beautiful property to host retreats here in Daylesford. He is already starting to note some differences in the way organisers get people booked onto retreats. He has noticed I am having far more luck getting people on my retreats than people with a small database or no a database at all.

I just laughed and said “size matters” ....... referring to my database.

With both of us coming from the lurky murky world of musicians we had fun creating several colourful analogies around the size matters discussion. But the conclusion drawn was that my dream to have retreats this year is being met by a database that was created eight years ago.

This is where the decision on the size of business starts to cascade downwards because even though I do sign people to my database at live events, the biggest number of "stranger" sign ups come from my website.

The strangers start to become friends and  magic happens

The decision eight years ago to firstly have a website and secondly have a database that actively collected the data of visitors on the first day that website went live ..... is now rewarding me generously.

At the time I made that decision I never dreamt I would be this far down the track but I had a big dream that I knew would need big support and set my website up accordingly.

Before you start the "oh but its alright for her, she's a rock star" routine - just know that my database started with ten people (mostly friends and family) and was decimated at one stage when I had to resign the database to my new shoppingcart system. I have grown my database from scratch twice.

Getting the formula right from the start will mean your website can begin to work for you in the future, often without you knowing its working.

For instance I have been working with a client who is putting together a brilliant free program to attract people to her website. She has 52 different topics she is going to address in a give-away program and needs 52 resources to put links to on her website.

As I went through my little black book of clients and contacts – I could only give her people with a strong website presence and a strong, clear WHO & WHAT that clearly fitted under each of her 52 different topics, simply because her information is only going to people on the web.

She fits the “super size me” category which is aiming at an international audience and as it turned out I could only give her people with a similar vision. The bottom line was that the ones who made the list have a strong web presence and have paid to learn from me so they know how to be set up to attract easy referrals.

There were some really good people who got left off the list because they made didn't make it easy to be referred, simply because they had no website or their message was murky which made it impossible to fit in one of the 52 categories. They are talented gifted people but they have limited themselves by being afraid to learn about how the web can help them now and into the future.

Some of you will be surviving without a website

All I can say is well done if you are. BUT the challenge is going to come when you want your business to not only survive but thrive.

So if you are the type of therapist who will be happy in a word of mouth practice maybe working a couple of hours a day, don’t want people to easily forward your information to others, don’t want people outside your circle of influence to find you, don’t want ideal clients to come to you from other suburbs or states or even different countries and only want to earn a meagre living that will see you standing by a massage table until you retire or your body gives up on you – then you might get away without having a website.

However, if in the future you want to teach workshops, do retreats, run teleclasses, be steadily keeping in touch with people who have seen you in the past and have the potential to return again in the future ..... I’d say start learning about the Internet yesterday.

If you want to have any ability to walk away from your treatment room and be creating product and passive income (money you earn without having to be there) – then you definitely need a website now.

In fact these days I believe everyone needs some web presence even if it is just a one page document with your name and phone number on it – so people can at least find you when they do a basic search.

People do survive without a web site, but the web allows you to quickly get to a bigger audience AND it allows you to get that audience on your database. Then if you are committed to keeping in regular contact with those people, eventually a percentage of those people will buy something from you.

However, its not a case of build it and they will come. I’ve heard it said that it takes around eleven “touches” for people to trust you on the Internet and eventually to get to a point where subscribers will buy something from you.

That means at least eleven newsletters, or offers or free product or information before they trust you enough to either work with you or buy from you.

The reality is - if you aren’t in the race you will quickly get forgotten.

Another scary fact is if people don’t hear from you at least every two months, then most will forget you – no matter how good your service was for them.

So getting a website is only the first step in a long corridor of doors that need to be opened and strategies that need to be put in place. My Practice Building Success System steps you through many of these processes – you can find out more here.

Its not just about the website

The key point you need to understand is that websites no longer stand alone these days.

Many experts are now stating that a blog is more powerful than a website, not for the number of followers you get but for the way the information can be searched and used in many different formats.

I heard a rumour from a reliable source who stated that the calculation that goes into how search engines rank your website will include how many blog posts you push through to social media sites like Facebook and then how many relevant comments you get from your friends.

So your web presence now must be part of a marketing system that includes a blog, social networking, regular newsletters and keep in touch strategies that keep you in the memory of your people.

To be honest all this stuff is doing my head in trying to keep up with it all, but its just something we all have to come to terms with.

The blessing is that the technology is getting much simpler and cheaper to use. So there really is no excuse. If you aren’t on the net and you aren’t gaining knowledge in this area, you stand to be left behind in the future.

I’m so convinced of the power of a website that I’ve set up a small e-course to help you understand more about websites. it will cover the truths you need to understand, the interconnectivity you must have and the important things you need to be aware of BEFORE you start spending your valuable time and money creating a website. There will be no charge for this information and you can unsubscribe at any time.

If you would like to join the website e-course, simply send a blank email to this address: info1749-536514@autocontactor.com

You might like to read a blog post I did last month that tells you how to get a web presence for lo or no cost here:

You can leave a comment below:

Friday, 5 March 2010

Why Do Natural Therapists Get Into Business in the First Place?

As I continue to work with Natural Therapists I’ve come to notice that it is no co-incidence that people have been drawn to natural healing modalities.
The one common thing that I’ve noticed is that natural therapists are often drawn to a modality because it helped them “heal” an aspect of themselves.

Often it’s a health challenge such as cancer or depression. Sometimes it may be the self esteem they lacked after years of physical, mental or emotional abuse. Substance abuse and eating disorders also features highly, often with natural therapies being their last resort before the long arm of the law caught up with them or worse they faced personal harm or death due to their habits.

As the person was “healed”, frequently after failing within the western medicine model before finding natural therapies, they were often inspired to go and learn more about the modality that helped them so much. The more they learned the more inspired they were to help others and hence commenced training, generally in the modality that helped them.

As yet there are no clear guide lines as to what drew them to a certain form of healing but most certainly most therapists I’ve encountered have a really interesting story to tell. Sometimes it takes a little digging to find it, but once unearthed it gives a whole new dimension to who they are and who they can help. It brings clarity and a clear message to everything they do.

I’ve noticed this more as I’ve begun to teach people to speak, specifically using their story as a way to gain credibility with an audience. As I get therapists sharing their story, often the heart wrenching details leave a bread trail right to the source of the reason why they got into natural therapies in the first place.

When that happens something magical kicks in because their story becomes their glory as they realise how much their personal story will cause people to attract to them, knowing they understand.

We all have a story and often the thing that has challenged us the most in life and in time have overcome is the thing we can most help others with.

Sore to SOAR is the program I have put together to help therapists get their message out. You can find out more here: Sore to SOAR

Wednesday, 13 May 2009

How to Avoid Ending Up Burnt Out & Broke When Organising Your Event


Events are a wonderful way to get your message out to a larger audience and also to start positioning yourself as an expert in your chosen field.

What I have worked out is that events are risky at best and you MUST know what you are doing or you will lose your blouse on an event and end up with tears before bedtime!

Many find the thought too daunting and never have a go because there is so much to learn and do and......well......it does involve the one thing most would rather die than do, which is public speaking. We are not saying there isn’t a lot to learn and do but if you are prepared to follow a process and do some early leg work, then the rewards on every level can be huge.

Like everything the answer is to start early and to start small and take on the challenges in bite sized chunks.

Samantha Richardson and my good self ran a teleclass last night that gave some quick and dirty tips and strategies to help you gain the confidence to get your own events started.


“The action happens at the front of the room”
Margaret Gill, Abundant Private Practices


When I first started out in my small business I knew I had to network but I was totally useless at it. As it turns out this became a wonderful strength because it made me realise that at a networking event you are very lucky to get ten people knowing what you do but everyone goes home knowing who the speaker is. That realisation changed my life and still today I rarely go to networking events in any other capacity than the speaker (yes, I’m still a rubbish networker!),

I went from someone who was petrified of speaking to someone who loves to speak in front of an audience.

The biggest thing I learnt was the importance of clarity. We discuss this on the audio below.

The audio will also give you the following three marketing tips you can use to start to put bums on seats at events

1. The importance of building a strong database

2. What are affiliates and how can they help get people to your events

3. How to leverage other people’s events to get exposure for your event and still have the event organiser love you
But please burn Sam's wise words into your brain because these tips are only meant to be a taster - there is a whole lot more you need to know.

“There is no one way to get lots of people to an event
but there are lots of ways to get one person to an event”

Samantha Richardson, Evolution Events


You can listen to the audio here:


MP3 File

If you feel you are ready to take the next big step you will love our live event YOUR NEXT BIG LEAP which is running in Adelaide, Melbourne and Brisbane – you can find out more here. http://yournextbigleap.eventbrite.com/


If you live in Adelaide don't forget we are speaking at two networking events at the end of May 09 more details here

Oh and BTW - little Harry was just fine, although he did spend the next few days looking like an extra from a Rocky movie - he has hopefully learnt about playing in games with your big brother - the injury factor grows! You will understand when you listen to the audio.

Tuesday, 1 July 2008

Catering for the Over 60's Niche Market

Again this month Springwise, the future trend ezine for entreprenuers, has come up with a great retail concept for the Health and Wellbeing Industry.

A shop in Lyon France is catering exclusively to people over 65 and are offering products and services that keep them well. In the past many shops catered for this market but were focused on fixing problems that already existed like providing walking frames or particular disabilities.

With the aging baby boomers staying “weller” for longer, there is a huge opportunity for health and wellbeing practitioners in small businesses to provide positive service experiences for people who want to stay healthy and happy for as long as they can.

You can read more about the store here

Tuesday, 19 February 2008

Does Clean Underwear Make a Difference on the Highway of Life?

As a youngster it was imperative that I had clean underwear. In fact life seemed to revolve around underwear. It was either being washed, hung out to dry, ironed (seriously), put away, put on or being scrutinised for its suitability.

This has to be life’s number one learning lesson and it is a lesson that makes no sense what so ever...........or does it?

I got Mum a gorgeous Mothers Days card one year that said on the front –
Mum where would I have been all these years without you?
The inside said: probably driving down the highway of life in dirty underwear!

If Hallmark are in on the act, then perhaps there ARE lessons to learn from dirty underwear?

It got me to thinking about the connection between business and having clean or dirty underwear and its significance in our small businesses. There are a lot of comparisons that can be drawn between wearing underwear (clean or dirty) and having a small business:

  • Like underwear we need to have a lot of different selling points

  • We need to stand out in the crowd to be chosen at all

  • We need to appeal in different niche markets and appeal to different people

  • Others judge us when we are really just doing our best with what we’ve got

  • Some things are out of our control

  • If we stretch too far – we end up on the scrap heap

  • We are constantly finding new ways to feel fresh at the end of long day.

The list could be endless when you start to think about it. Due to the seriousness of this issue I’ve decided to have a poll and see what you think.

So if you have ever been bailed up by the dirty underwear police at a crash scene or can find a business case or comparison for clean or dirty underwear – please leave a comment and vote in the poll.

Saturday, 9 February 2008

How to Get Known as an Expert = FAST!

Welcome to 2008 – this is my first blog post since returning from the USA and you never know I might even blog a few posts on what I learnt in waist deep snow. But for today I’m on about forums.

Just when I thought my day was totally full and no room left for one more single marketing activity to do in my small business – I learn I’ve now got to be out there commenting on the forums all around the world. This doesn’t please me as I spend most of my life in front of a computer but it seems forums are yet another (very good) way of getting known in this virtual world we now live in.

If you have been doing my 90 Day Challenge or the Full Practice Building System, you will know how much importance I place on having a strong WHO & WHAT. Knowing WHO you work with and WHAT you do for them is imperative to building a strong practice.

Forums are where the rubber hits the road when it comes to WHO & WHAT because all you need to do is identify a few forums that gather together in your WHO market and you just go on and answer their questions or comment on what they have written. The trick is to be discerning and as always make sure you are adding value. Never just go on and get into a thread because you can. Only get on a thread if you can add value or give a constructive comment or answer a question or you are just like a large percentage of the rest of the world who are wasting their life commenting on forums.

Forums are one way you can quickly become known for your expertise as you start to jump in and comment on things you know something about. This last comment assumes you know something about something but it does seem ok if you know something about anything – there will be a forum for you.

So I figure if I have to do it – then you guys can at least know what you are not doing. You need to search for forums in your area of expertise and the best way to do that is a website called http://www.ning.com/home/

On the first page I visited there was a choice between the Occult and Pagan communities and The Fairy Society. Somewhere between those two there are currently 8.097 other social communities so you won't be spoilt for choice.

You could spend all day in these forums so please just don’t forget all the other marketing activities in your marketing train!!

Friday, 12 October 2007

Getting A Natural Therapy Practice Known

Question

How does one get an unknown therapy known and trusted?

Answer

There is no simple answer to this one apart from saying “commitment and a lot of hard work”.

Trust in any relationship is gained over time and a natural therapy practice is no different.

You have to be walking your talk all the time and making sure you are projecting the right image and message to people constantly. This is part of your brand and it’s not just about logos and the colours you use – it’s about everything you do.

Getting known is about going out there and wearing down your shoe leather and shaking a lot of hands! Therapists generally hate this part but to be known, people need an opportunity to get to know you. The only sure fire way to do this is by going out and meeting people.

My system has various ways in which you can do this and I recommend you try them all because you could just find out you enjoy doing something that you initially hated, like public speaking did for me. Initially I was absolutely petrified of talking in public but after forcing myself to do a few talks and learning some of the tricks of the trade, I now love it. Actually I hate myself for agreeing to do it until I’m a couple of minutes into the talk them I love it once I get going.

Choosing a strong WHO and WHAT (who you work with and what you do for them) speeds the process up because all your time and marketing activities can be done to a smaller group of people which results in a higher take up rate. It also sets you up as an expert in that particular field which makes it really easy for others to understand what you do and how they can refer others to you.

What I recommend is that each month you do at least

2 x Speaking events to your target audience

2 x Networking events or functions where your target audience will be

1 x Newsletter to your database (tell me you have one!)

4 x Approaches to a strategic alliance (someone who can pass clients to you)

And each quarter do some sort of grassroots marketing campaign

Follow up all your leads and contacts and ensure they get on your database because your database is your friend!

Thursday, 20 September 2007

Maintaining Work Life Balance in a Small Business

Question

My main focus is to get experience and immediate income by offering massage and life coaching from various areas, ie gym, healing centre and day spa. Eventually I want a spiritual healing centre. Am I doing too many things?

Answer

This is the classic catch-cry of people in their own small business. It comes down to being able to maintain a healthy worklife balance. I don’t believe there is such a thing as “too much” when starting out to grow your practice, so long as you look after your own health and don’t burn out!

The more you are in action getting clients, the quicker you will fill your practice.

The beauty of my system is that even if you end up in the wrong place initially you will learn and understand how the system works under any conditions. So the experience you gain now will set you up for future projects. When it comes to having your own centre you will know how to fill it quickly by simply returning to what you have learnt in this set up phase. Use this time to get out there and test the market and learn.

A word of caution is to stay focused and not spread yourself to thinly and be trying to work out of too many different places at once. Even if there are no bookings, it is important to be on the spot ready for non-booking walk in clients. If you are in too many places you often miss the opportunity to fill with walkins. For instance if you are at the gym and have no clients, put a sign at the desk in a plastic holder that says “free 15 minute neck and shoulder massage”. That will give you the chance to persuade the recipient of the neck and shoulder massage (who just happens to be in your target market and niche) to take up a 2-4-1 offer with you.

Any news is good news when setting up a new practice – the worst case scenario from giving away those 15 minutes is that the member now knows there is a good massage therapist at her gym! Obviously when you have bookings you bring the sign in.

A-boards at the front of the building also work well with these types of offers but just make sure you find out the rules from the local council – don’t get fined for illegally placing an A-board!

Wednesday, 19 September 2007

Choosing the Right Business Name

Question

I am looking for a name for my business and all I can come up with is names that are already taken or are very corny. Is it important that the name of my business communicates clearly what niche I am aimed at (so that my target market knows I'm the one for them) or can I go for something either a bit more subtle (just because I like the name) or a bit more generic (in order to keep my options open)?

Answer

The Abundant Private Practices system really encourages you to make your practice all about you and be coming from your heart, this is key to your success in that your integrity and passion for your work come through your business. However, that is only true of the vision, mission and values of the business.

The next thing you need to understand is that your practice then becomes all about the client! In other words you need to let go of things you like, anything quirky, inside jokes or things you understand but the rest of the world doesn’t because you are going to confuse people. The name of your business is really important on two levels

1. Your business name needs to describe clearly what you do or at least describes it in conjunction with a tagline.

2. When people type a search string into a search engine like Google, the closer your name fits with words in that search string, the more chance you have of coming up near the top. This is invaluable if you have a website and these days a website is pretty much a given.
The clearer your business describes what you do, the easier it is going to be to get clients. Sadly this means that sometimes the name could be very boring or you could get very clever like the door company did that named itself “Well Hung Doors”. I love this business name because it totally describes what they do with lashings of humour. With a name like that though you better not get some boring person to come to hang doors that doesn’t have an ounce of humour. Your name needs to match the vision, mission and values of the company.

Therapists love to come up with exotic sounding names from Sanskrit messages or terminology from their modality or names like “Flowing River Sunset Rhythms” but unless you take river cruises with live music, this is probably not going to identify you as a natural therapy business that can sort out someone’s sore back – Julies’ Back Massage Service, although a bit boring, will work better to attract clients. If you can give your card to a 15 year old stranger and have them understand what you do, then your business name has hope of being understood by the general population. There is elegance in simplicity so keep it simple and obvious.

Anther key thing to consider is names that rank alphabetically in advertising etc – it’s always good to be at the top of an alpha listing, hence one of the reasons why I called my business Abundant Private Practices :-)

Saturday, 15 September 2007

Getting Clarity on your Niche and Target Markets (the WHO & the WHAT)

Hi Mz Margz

I’ve been working through the 90 Day Challenge and the question raised about the choosing a niche or target market (WHO and WHAT) brought me to a question of my own, which I have been thinking about for some time.


Question

Currently I have narrowed my niche down to women in transition and I think that's still pretty broad.

Answer

Yes, I think you would find it easier if you defined which group of women or what their transition is. Perhaps both, for instance women transitioning to a new career or working women transitioning to motherhood – it just makes it a little clearer who you work with.

Always remember that you are only going to market to this group, you will still see women outside the group but your marketing dollars will only go on one specific area. The concept around having a specific niche is that when you say what you do, the person you are speaking to will be in three categories:


  1. Is interested in what you do because they are in your target market and need and want what you are offer and therefore they will ask for more information


  2. Has no interest in what you do but knows someone who would be (can refer others)


  3. Has no interest in what you do or doesn’t know anyone who does – so stop wasting your time and start talking about the weather!
In your preferred niche for instance if you were talking to a man don't automatically assume they won’t be interested because even though they won’t personally use your services they have wives, mothers, sisters, friends who could need what your service offers.

A short talk by Mz Margz on the benefits of choosing a strong WHO & WHAT



MP3 File