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How to use your Ideal Customer to define the 5P’s of Marketing

To be successful in business, you need to know your ideal customer. And I mean really know them. Your success is going to hinge on how well you know and can talk to the needs and desires of that customer. You need to know everything you can about your customer because it makes you a more effective communicator. Knowing your customer’s wants and need lets you talk directly to the customer and target your messages so you can inform them about how you address their needs and desires. You’ll need to know how to segment your customers because you may need a different strategy for each unique segment. Because each customer segment has different needs, you may need to take different actions or use different tactics for each segment. Also if you have more than one product or service, you will need a unique strategy, actions and measurements for each product or service that you offer. This is because each product or service will be addressing the different needs and desires your customer has. These are the numerous aspects of the Ideal Customer that are incorporated into your marketing strategy. You will need to know and to define the following items:

  • Your  Client Traits, like what are the characteristics of the clients you WANT to be working with.
  • You will need to identify your Customer Segments if there are any. Who is your End User, who is the Decision Maker, who are the people who Influence the decision?
  • You will need to know the Demographics, Psychographics, Pain, and Dreams of your customer
  • You will need to know your Customer Needs and how the need your addressing fits into their other priorities.
  • You will need to know how to Prioritize your marketing tactics and promotions based on your customer’s needs and behaviors.
  • You will need to know how to Identify the best ways to talk to your customer
  • You will need to know how to Identify the most cost effective means to communicate with your customer
  • You will need to Know when your customer needs what you offer
  • You will need to know how to Engage your customer so they keep coming back

Here's a chart I use to collect some of this information.

5 P's Ideal client

Once you learn this information about your customer, you will need to take it and use it to define your Positioning and the 5 P's of marketing which includes the following items:

  1. Your Positioning which means how do you fit into the overall marketplace and compare to other solutions available. Your Positioning Statement is used to clarify you comparative differentiator. Next, your Elevator Pitch is used to help you converse about your company’s solution in a way that is concise and gets your main differentiators and solutions across to your customer and potential partners. Your Unique Selling Proposition is your tagline and is a short phrase that summarizes what makes your solution unique. Your Brand should be defined in a way that supports your positioning while appealing to the desires and dreams of your customer. Your messaging is critical to the success of all communications that you send out. You will need to know how to define your company’s messages, your benefits and how the features support those messages and benefits.
  2. Your Product which means how are you going to design your products or services so that they meet the needs of your customer.
  3. Your Distribution (Place) will be selected based on where your customer shops and their purchase behavior.
  4. Your Promotions should be prioritized in order of the ones that are most effective in reaching your target customer.
  5. Your People or staff should be selected to be the best fit for delivering the needs of your customer.
  6. Your Price needs to take into account what your customer is willing to pay for your services.

This knowledge about your ideal customer is fundamental to everything you do in your business. It is critical that you take the time up front to learn everything you can about your customer and how you can best meet their needs. From here you will take this knowledge and apply it to the 5 P's of Marketing and create a marketing strategy and plan.

What is the Marketing Mix and what are the 5P’s?

The Marketing Mix

The marketing mix describes the way you use the primary marketing tools to achieve your company's objectives. Those tools are known as The 4 P's or 5P's of Marketing. The 5 P's are in an intentional, tactical way to meet the needs of a customer. Just like an artist combines the principles and elements of design in each piece of their work, the expert Marketer manipulates the elements of the marketing mix to best meet the needs of their customer and achieve the company objectives. Let's explain what those elements are…

The 5 P's of Marketing

1) Product:

The product is the actual goods or services offered by the company and how it meets the end-user's needs and wants.

2) Price:

The process and strategy for setting the price for a product or service. This includes discounts, or non-monetary fees (time, energy, or attention.)

3) Place (or distribution):

  • The channel by which a product or service is sold (e.g. online, direct mail, retail)
  • Which geographic region
  • Which Industry
  • Which segment (Kids, Moms, Men, Business Owners, CIO's)
  • How the product gets to the customer
  • How the selling environment affects the sale

4) Promotion:

This includes advertising, sales promotion, publicity, and personal selling.

5) People:

How do people affect the perceived value of the product or service.  People that influence that value can include employees, management, and consumers. For every product or service that you offer, you should write down what these 5P's are for that product. You will see that the marketing mix will vary by product or service, but there are some elements you will keep consistent across your brand.

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