If you’ve founded a business, you want to see it succeed. There’s lots of different motivations for that desire: you might be planning to build a start up that you can sell on to bigger players in the industry when it reaches a certain level of maturity. You might want to build an empire you can pass on to your children. You might simply want to make a living day to day.
Whatever the reason you want to succeed, you need revenue. Revenue means profit, and profit means your business becomes self-supporting, not propped up by investors who in turn gain a say in how you run your operation.
To generate revenue you need customers to know who you are. You need to dominate mindshare in your niche, so when consumers have money to spend, it’s you they’re thinking of. You need attention. Today we’re looking at how you can capture it.
Speaking to the People
If you’re going to hold consumer’s attention you need to make sure your offering, from marketing to product, speaks to the greatest number of people possible. Trying to be all things to all people is a quick way to bleed the distinction out of your product, but there is a better way.
Understanding your market as comprising lots of different groups lets you decide how to appeal to a lot of different people at once without compromising on you vision. A market segmentation analysis tells you which different groups make up your market, what they want and how much spending power they have. This lets you emphasise different aspects of your product to different groups and ensure their attention is on the best facet of your brand for them.
Bold but Consistent
If you’re looking to capture attention it can be tempting to let your advertising swing towards bold, brash statements. Contrary to popular wisdom, though, there is such a thing as bad publicity. Cheap attention, bought with promises about your products that you can’t fulfil will poison the well of brand power. You’ll become known for disappointing people, for being unreliable, a story that can stick long past any positive publicity.
It’s far better, if you’re building for the long term, to make sure your marketing is distinctive but consistent, making promises you know you can keep. That means customers will consistently have positive experiences with you and know that when you make an announcement, be it at a press conference or through a marketing campaign, their attention will be rewarded!