Many entrepreneurs think that they have to create multiple products or services for each vertical they sell to when in reality, it makes more sense to customize your message and sell the same product. Join Jay on today’s Black Entrepreneur Blueprint podcast episode # 380 as he gives you the steps and examples to create custom messaging. Visit www.BEBAcademy.com
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 380
Today we’re going to take a look at a strategy that will help you increase your sales that not many people are using or are willing to take the time to do.
Generic Marketing vs Specific Marketing (Affinity Marketing)
You sell one product or service, and your marketing is generic in nature when it should be specific to each of your markets.
Sell one product and customize your message to that market
Power of Specific Marketing (Affinity)
MBNA – credit cards were built on Affinity marketing (Led by Charles Cawley, MBNA opened its first office in a converted A&P food supermarket in DE. An early driver of MBNA’s growth was the creation of “affinity cards” in 1983. Cawley convinced the alumni association at his alma mater, Georgetown University, to allow MBNA to issue credit cards branded with the university’s name. This proved to be a successful business, and other affinity affiliations with universities, organizations, and sports teams followed; by 2004, MBNA had more than 5,400 partnerships, making up about 85% of the affinity-card market. Sold to BOA for 35 billion in 2006.
What are the BENEFITS of doing this?
- Connects directly with that prospect because you’re speaking their language – you understand the problem, you have an affinity with them
- You’re giving them the solution to their problem
- You’re giving them the results of that solution and how it positively affects them (what does the solution mean to them specifically)
- Your competition doesn’t do this
- Identify as many markets as you can for your product or service
- Identify the SPECIFIC (not generic) problem you solve for that market
- Identify what solving that problem does for them (problem-solution–result–what does that mean for the customer)
- Create custom content and messaging – convey that information in your specific marketing content (landing page, article, video, case study, etc)
- Create marketing campaigns for each vertical (run ads, email campaigns, etc)
Markets to (what’s your message to each one of these verticals)
- Waiters (problem: feet hurt, solution: ABC insoles, result: serve your customers without being in pain – instead of having a bad disposition you can smile and make more money)
- Joggers (problem: hurts when you run, solution: ABC insoles, result: enjoy running again and stay in shape – stay healthy and live longer for your family)
- Basketball players (problem: feet hurt, solution: ABC insoles, result: can play without pain – can increase my production – maybe get a scholarship to a college or make it in the NBA)
- Field hockey players
- Retail salesperson
Insurance Agent (what’s your message to each one of these verticals)
- Business owners (problem: need insurance for business and personal, solution: ABC insurance company, result: my business and my family are protected – if something happens to me or the business my family will be fine)
- Educators (problem: need insurance, solution: ABC insurance, result: your family is protected if something happens to you thereby creating peace of mind and security
- New parents (problem: additional responsibility of a family, solution: ABC insurance, result: your family is protected if something happens to you thereby creating peace of mind and security
- Business owners
- People with tax problems
CREATE A SIMPLE FORM – WRITE DOWN
PROBLEM – SOLUTION – RESULT – WHAT DOES THAT SPECIFICALLY MEAN TO YOUR CUSTOMER
Create a graph with five columns: Problem, Solution, Result, What Does that specifically mean to your customer. Then start creating the format for your customized marketing to each vertical.