Marketing for Success: Two Systems for Two Types of Entrepreneurs
by:
Michele DeKinder-Smith
Based on the results she wants, a female entrepreneur can create a marketing system for her company that meets her needs. From a marketing workhorse to a slow and steady system, the possibilities are endless and depend on a business owner's vision, entrepreneurial style and desire for growth.
A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 1,000 women in business, this study shows that each type of business owner has a unique approach to running a business - and therefore each one has a unique combination of needs. This article outlines two of the five types and provides tips for creating marketing that meets the needs of the business, now and in the future.
Tenacity Jane is an entrepreneur with an undeniable passion for her business, and one who tends to be struggling with cash flow. As a result, she's working longer hours, and making less money than she'd like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest group of female entrepreneurs.
One of the main reasons Tenacity Jane isn't seeing the financial success she craves is that she doesn't have a singular focus. Aside from being determined, Tenacity Jane business owners are visionary. A big vision provides something to work toward. On the other hand, many Tenacity Jane business owners envision several streams of income and start out by working on getting all of them profitable at once. The problem: if a business doesn't already have a strong customer base and deep pockets, it is difficult to market effectively for several streams of income at once. Here are some tips to get Tenacity Jane's business in the black:
• Examine the business concept and the business model. Define exactly what the business provides to customers (the product and its benefits), and in what form. If customers aren't buying, consider revising the business concept or business model for a more effective base for marketing. Once the business concept and business model are crystal clear, it becomes easier to complete the next necessary step: decide on a target market and a clear message. Here's an example: Sally, a beauty advisor, goes into people's houses each morning, wakes them up, and does their make-up. The concept and benefits are clear, but will people buy her services? Probably not. It may be more realistic for her to schedule a one-time appointment with a client, during which she would go to the client's home, analyze her current products and beauty concerns, and teach her to apply her make-up - and record it so the client could watch it again and again. People would be more likely to pay for this one-time consultation - the improved business model.
• Take concrete steps toward marketing to the newly defined target audience. Some Tenacity Janes have expressed that they know what they need to do, but have trouble following through. For Tenacity Jane, this almost always is a case of needing to change her mindset, habits, or environment, or to learn a new skill. Tenacity Jane may consider attending networking events where she can meet other professionals and discuss the possibility of affiliate marketing, which gains both partners and clients with minimal investment. She also may consider referral marketing, wherein existing clients get a small reward for referring their acquaintances to Tenacity Jane. Additionally, Tenacity Jane may consider rewarding her long-term or repeat customers with special incentives.
Go Jane Go is passionate about her work and provides excellent service, so she has plenty of clients - so much so, she's struggling to keep up with demand. She may be a classic overachiever, taking on volunteer opportunities as well, because she's eager to make an impact on the world and she often struggles to say no. Because she wants to say yes to so many people, she may even be in denial about how many hours she actually works during the course of a week. As a result, she may be running herself ragged and feeling guilty about neglecting herself and others who are important to her.
Since one of Go Jane Go's primary challenges is that she feels overwhelmed with all the obligations she's taken on in her work and personal life, it may seem like she doesn't need to think about marketing. Although she will not likely want to enact a fast-growth marketing strategy, she needs to keep her marketing efforts active to sustain the business she has worked so hard to build - and to help others, which is another passion in her life.
• Go Jane Go's desire to make an impact on the world gives her a unique marketing opportunity. She can combine her altruistic desires with her practical, professional responsibilities and donate time or money to an organization or charity she holds dear. Go Jane Go may be working to prioritize her activities, and charity work will undoubtedly remain near the top of her list. Whether she donates time, services or products to a cause, Go Jane Go can get personal fulfillment, give help to someone in need, and get her name out there at the same time.
• Sometimes Go Jane Go has trouble saying, “no,” when a client approaches her with a project. A crystal clear marketing message directed toward a specific group of clients may limit the projects coming through the door to only the most desirable for someone stretched as thin as Go Jane Go. This will better ensure that the company's marketing message is attracting the right clients.
Whether a business owner is determined to define her marketing message, or resolute in maintaining her freedom while still growing her bottom line, marketing methods exist that meet an entrepreneur's needs - and those of her company.
About the Author:
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at
www.janeoutofthebox.com Interested in learning more about the five Jane types and which Jane you are? Check out
www.janeoutofthebox.com
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317
Date Published :
Feb 9 2010