I want to talk to you about 7 Steps to a Differentiated Marketing Strategy. Now, we’ll be talking about it in two parts, and today is part one. Let’s talk with where you start.
Hi. Today, I want to talk about 7 Steps to a Differentiated Marketing Strategy. Now, we’ll be talking about it in two parts, and today is part one. Let’s talk with where you start. The best place to start is with a good understanding of the business situation that your firm is facing.
Understand the business context you’re in, and that will tell you what are the primary goals. And we’ll help you figure out how to track your success along the way, as well. Now, your second thing is to research the client segments that you’re trying to understand. And this is very helpful, because you understand the motivations of your clients, the issues that are important to them, the things that make your firm stand out.
Because once you get your differentiators, then you’re also going to have to promote them. So, as much as you can understand about your target audience, it helps you with the differentiators and will help you later on. Research reduces your risk. The third thing you do is to position your firm in the marketplace. In other words, look for what are the things that are setting your firm apart that are of value to your clients at the time they’re making the selection?
Don’t make the mistake of only focusing on what your long-term clients value. They may come to value you as a trusted adviser, for example. But they didn’t start out looking for a trusted adviser. They started out looking for someone who could help them generate more growth, or improve their tax situation.
In other words, they chose you for your expertise. Position your firm in terms of your expertise. Now, next time we’ll get into more.