One of the reasons, I’ve found, that businesses fail is – the head entrepreneur doesn’t take the time to find out what people are willing to pay for. That’s a generalization – we’ll get to the specifics of why & how to avoid that mistake.

As a small business owner – you get paid in proportion to your ability to market your products and services to the people wanting to buy them. Seems like a “well, duh, Meg” statement, right? But so many creative entrepreneurs are missing key components of this equation. You’re not alone, if you’re struggling.

There is hope, though. You can learn, and you can change.

The first step in finding out what your customers want is this:

Figure out WHO your customers are!

There are three simple steps you can take to get started here. Seriously, it isn’t that hard.

Note: Please do not make the mistake that “Whiny Babies” make! Do not convince yourself you don’t have the time or the money to do this step! This step is essential to your small business success!

1. Write out who you want your customers to be.
   Get specific. Where are they in their life? Work-At-Home-Moms with babies in diapers? Single guys in their first apartment? Targeted marketing is crucial to your business success – even if you are a generalist.
2. Put yourself in the mindset of of that customer you wrote about. Think like a WAHM, or a stud with a bachelor pad – then hit the search engines. Google phrases that they search for that relate to what you offer. Don’t make the ego mistake – don’t search for the keywords you are targeting – they could be wrong. Search like your prospect would search and find out if your website shows up!
3. In the search results – do you see products and services similar to yours? If so, congratulations, you are on the right track! If what shows up is strikingly different from what you offer, you might want to get in touch with groups that represent your target niche. If you did it right, such organizations will show up in the search results.
4. Ask current customers and desired prospect groups the same questions. Ask blatantly what would make their life easier. Ask what their current providers are doing wrong. Does your firm do those things or have you a better approach? Ask how much they want what you’re offering.

Tips:

• Be careful not to imply a correct answer when you’re asking these questions. Your purpose is research, not marketing, at this point. Use the results to tweak what you’ve got – then market it.
• If you have money, but not enough time to do this yourself – outsource. Hire a temp, or an outsourcing firm, like mine, even pay your nerdy kid brother to do it for you – as long as he’s not offensive.
• If you have time but are short on cash, do it yourself. The education you will get from doing this research will be brutally honest, if you’re doing it right. Use it to improve your business!

Ultimately as a small business owner, it is your responsibility to know your audience, find out what they want, then use targeted marketing to bring your products and services to those that want them. It seems like a no-brainer, but with as many businesses failing as marriages – as a people, we’ve got some work to do!

Note: This post is in response to “Why You Need To Meet Your Target Audience Where They Are.” Check it out.