I feel very strongly about this subject because without it your business will not survive. Most business owners ignore this fact and rest on the concept of:

“If I build it, they will come.”

I call this dangerous way of thinking about your business the “Field of Dreams” mentality. Please don’t adhere to this archaic way of guiding your business through this challenging economy that we find ourselves in.

You need to know how to find, attract, and convince new customers to come in to your business. Without a steady stream of new customers, your business will wither and die like an old oak tree that has been overshadowed and can’t reach sunlight or get water because all the other trees are taking it all for themselves.

Don’t let this happen to you.

So, what can you do about this?

There is a 3-step process to getting new customers and converting them into long-term paying customers for your business. When you are watching this video, remember that the order of the 3-step process is key. If you mix this up, you will be wasting ALL of your hard-earned marketing dollars with little to no success.

Finding new customers for your business should be viewed as filling a funnel that goes into a bucket. As the funnel is wide at the top and then gets skinnier and skinnier towards the bottom is how I want you to view getting new customers for your business. You need a big net to go out and get as many potential new customers into your funnel and then have a process in place to convert them into great long-term customers and clients that give you money month after month.

At the bottom of your funnel is your bucket, which is your existing base of customers that keep your business going. But the problem is, buckets have holes and are leaky (I will cover this in another episode of Mike’s Marketing Minutes), and that’s why you need to keep filling that funnel. Because your existing customers are slowly leaking out and you need new ones to replenish your bucket.

The question then becomes, what do you need to do to attract new customers to your business? This is not an easy task, and please don’t take this lightly. The way you find, attract, and convince your loyal customers to return to your business is very different from how you get new customers. We all know it’s 7 times more expensive to get a new customer than getting your existing customers back. But we ALL STILL HAVE TO DO IT! If not, your business will die a slow death.

In my video above, I mentioned the 3 M’s of Marketing. I learned this 16 years ago when I started writing my own direct response marketing copy.

The 3 M’s of Direct Response Marketing are:

  • Market (Who)
  • Medium (Where)
  • Message (What)

These are very important, and so is the order I have placed them in. This is crucial to the success of any marketing campaign for your business.

Let us first start with the Market or the “Who.” If you don’t know who the people are trying to find for your business, you will never know the rest. We start with creating a customer avatar for our clients. What does your best customer look like right now for your business?

Ask yourself questions such as:

  • Where do your best customers live and work?
  • How old are they?
  • Do they have kids?
  • What is their income level?
  • What do they like to read?
  • Where else do they like to shop?

These are just a few of the 50 + questions I like to ask a new client when developing a marketing plan and best customer avatar.

On occasion, we hear from clients that are somewhat displeased with their existing customer base. That’s when we find out what they did to attract them to their business. Then, we determine what needs to be altered to attract the right kind of customers the business owner wants.

Moving on to number two, the Medium or Media or the “Where.” This is important because if you are marketing in the wrong space or using the wrong media, you are wasting your money. If your potential new customer only goes on Facebook and you are advertising on Twitter, you are wasting your money. If you are trying to reach an older demographic and are marketing on Tik Tok (which tends to skew towards a younger crowd), you are wasting your efforts. Determine where the eyes of your new customers are looking for your business and be there. Unfortunately, this isn’t easy. It’s done with lots of experience and testing. Hence the reason you would speak to a company like ours, for example, that spends a bunch of money and time determining what media certain groups utilize and how to reach them.

I will give you one of the biggest media outlets in the world that probably 98% of your customers use daily. GOOGLE! 3.7 BILLION searches a day. Do you think some of your potential new customers might be looking for a business just like yours on the Google Machine? Oh yes!

Moving on to the third side of the Marketing Triangle, the Message or the “What.” I used to create the message second, but with the flood of new media that we have in today’s world, the message might be different for each.

  • Is your message limited by how many characters you can send?
  • Does the time of day affect the response?
  • Is it text-based?
  • Is it graphic-based?
  • Is your message in a video format?

Lots of variables here that you need to know before you create the message. This is probably the hardest part when it comes to getting new customers. Creating a compelling message and offer to inspire action in your new potential customer. Don’t underestimate how difficult this is in today’s world. Remember last week’s blog post? Humans have a shorter attention span than goldfish. Ugh.

You don’t talk to new customers like you would an existing customer. Also, the offer and sense of urgency need to be different. Think about it this way – you wouldn’t go into Starbucks and start talking to a stranger about what you did last weekend with your kids like how you would with your best friend of 25 years. It’s different – different tone, different words, different message.

I don’t want you to get discouraged by this blog. New customer acquisition is something we must all do, or our businesses will fail. I don’t want that for you. I want you to have a proven and tested systematic way to add new customers into your funnel every day that you don’t have to worry about. That’s how you grow your business and your sales and improve your life for you and your family.

Michael

Special opportunity shooting across your desk…

If you need help determining any of the 3-M’s of Marketing for finding, attracting, and convincing new customers to come to your business, click the button below to register for a FREE Strategy Session with one of our DFY Marketing Experts. A $297 value.

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First 30-minute Strategy Session per business owner is FREE. Additional Strategy Sessions can be booked with a DFY Marketing Expert for $297 per hour. Please contact our Director of Operations, Tara, at [email protected] to book a private consultation session with Mr. Thibault if interested.

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