how to go from free to fee
"The key to failure is trying to please everyone.”
Who is your ideal customer?
In the funeral industry, the obvious answer would be ‘everyone.’ It’s one of those inescapable truths ala Benjamin Franklin… the only certainties in life are death and taxes. Using that logic, everyone will die, thus the market for your services will be abundant. But then why, are you having difficulty growing market share?
Often, your instinct is to make your potential audience as broad as possible. Seems logical, right? Why wouldn’t you want to sell your services to as many potential customers as possible?
On the other hand, you’ve probably heard that “when you try to speak to everyone, you speak to no one.” Have you ever tried to organize a group event, maybe a company party or family reunion? It is insanely difficult to plan anything! When you try to cater to everybody’s desires, the event ends up being coordinated using the lowest common denominator. This results in minimal enjoyment for all. If you apply this same perspective to your business, in trying to make everyone happy, no one is…least of all your wallet.
Not even Wal-Mart markets to everyone…
When you think of your favorite products, brands or services, what makes them so? It’s certainly not because they speak to everyone.. but rather they speak to YOU. This is how Target and Wal-Mart can exist in the same market! They sell the same services (much like your cross-town competition), but the manner in which they conduct that business and attract customers are dramatically different.
Now think about your desired customer base.. what makes them tick? How can you align your business model and services to best capture that market? Simply being the lowest cost provider might attract some, but at the expense of alienating other potential customers that value service over cost – and are willing to pay for those services.
When you take the time to define your target audience, your positioning becomes clear. Being the best in this niche market will eliminate your competition. You can’t be all things to all people.. be everything to the right people. Your firm, community (and wallet) will thank you.
Tune in next week, when we help you identify your niche!