To Grow Big Try Thinking Small
Every business wants to be the market leader and have success. Yet to do so, many have the mindset that it is necessary to spend more money. “Buy a Super Bowl ad,” they say. “Spend hundreds of thousands on TV and radio.” The trick to getting big isn’t always about trying to reach the most people possible. In fact, according to American author, entrepreneur, marketer, and public speaker Seth Godin, it is focusing on what he terms the “minimum viable audience.”
This is the smallest audience you can capture and maintain. When you focus on that, you have a much better chance of making them happy, changing processes that need to be changed and creating a customer experience that’s truly memorable.
Focus too big and your message reaches nobody — it’s too generic. Today, effective marketing relies upon personal preferences and connections.
Because nobody can be everything to everybody at the same time. That newspaper ad or “spray and pray” direct mail spend targeted at EVERY customer has a very small return on investment. Sure, the low percentage of people that do respond do so because you happen to hit them at the exact right time with the exact right message. But, what about the other 98 percent of the people? You just annoy them.
Would you rather capture 2 percent of the revenue and alienate the other 98 percent, or flip that around?
According to Seth Godin, most major brands are now focusing small and that is exactly what has made them big and keeps them thriving.
There is a reason why User Experience (UX) and customer experience are today’s buzzwords. In the automotive world, true growth isn’t gained by coupons, discount or novelties, but rather by ensuring that your customers become loyal advocates.
Ensure that each customer that comes in for sales or service has a great PERSONAL customer experience. Try it out. Send in a mystery shopper and spot check your customer experience.
According to today’s highly successful companies, a greater focus on the personal customer experience rather than mass marketing to the universe leads to far more growth.
Take care of your customers with a personal touch and they will take care of you.
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