In an economy like ours, business owners want to get aggressive. They want to build their companies and increase profitability. And as part of this, they want to know how you can help your coaching clients crush the competition.
At the heart of this is marketing. But not just marketing for its own sake. At its most effective, marketing is nothing more or less than the art of communicating in a clear and compelling way the most significant promise your client’s company makes to their core audience.
Now don’t worry. This isn’t another tired discussion on how to help your clients articulate a unique selling proposition. There’s a whole lot more to it than that. In many instances, you’ve got to actually help them re-invent their core business.
Otherwise, they’ll still be competing on price because they’re really the same as everyone else–no matter how much you dress it up. And savvy consumers know that.
Case Study: THE “Educational Daycare”
Meet Jenny, a daycare business owner client who wants to dominate her market. How do you help her do it?
First, assess the status quo. At face value, many daycares are more or less the same. They have similar licensing requirements, regulations, and, in most markets, price-points. They make similar claims in the marketing materials. Your first job is to discover where there might be an underserved niche market in the area by carefully researching what already exists.
Second, make a strategic decision. In this case, Jenny decides to target parents who are deeply concerned about their kids being educated while attending daycare. But to make and keep this promise, she can’t just say so. If Jenny wants to become THE educational Daycare in the area, she has to make some operational decisions.
Third, operationalize. Jenny decides to hire teachers with early childhood education degrees. She creates a pre-planned curriculum that includes reading, math, and computer skills training. She equips the daycare with a 22-station computer lab and gives parents a written guarantee that their child will be reading at a second-grade level prior to entering kindergarten.
Fourth, market. It’s not until you have discovered an underserved market segment, strategized a business model around meeting consumer needs, and operationalized that model clearly and effectively that you can finally begin marketing. Because Jenny knows that there is no other daycare in the area with a similar value proposition, she can say so directly and credibly. Best of all, she can now charge double what competing daycares charge, because she is filling an otherwise unmet need.
It's not until you have discovered an underserved market segment, strategized a business model around meeting consumer needs, and operationalized that model clearly and effectively that you can finally begin marketing.
Market-dominating results like these are readily attainable when you help your coaching clients niche themselves into a market-dominating position.
This isn’t just clever marketing. This is a total business reinvention.
And this is just one of many fast-cash-flow strategies that you can learn to deliver as a business coach IF you give yourself to studying the subject with the right business coach training. To learn more, download our FREE ebook, Secrets of a Business Coaching Rock Star, and enjoy!