How to

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3 key secrets of market intelligence
How to 1. Pick more profitable customers,
2. Grow your bizand, 3. Have a life!
Sault Ste. Marie Innovation Centre June 18th,
2008
Presented by Donald Cooper, MBA
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Theres no such thing as Business Goals only
the personal goals of the people who control the
business.

• How big do I want to be...or must I be?
• How good do I want to beor must I be?
• Am I a high end or mass market person?
• Love travelingor sleep in my own bed?
• How much do I need or want to make?
• How big a difference do I want to make?

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Reality check In case you hadnt noticed,
running a business today is challenging!

• More demanding customers.
• More stronger competition.
• Shrinking margins.
• Increased complexity.
• More difficult to find and keep great staff!

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But hey, every business is tough!
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Profitability profile of a market with too many
competitors

• 1 - ROI of 15 to 20.
• 2 - ROI of 10 to 12.
• 3 - breaks even.
• 4 and 5 - will lose money!

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Key questions to ask

• What, or who am I passionate about?
• What, or who am I an expert on?
• What are my values and standards?
• How do I handle stress? Am I emotionally
  resilient?
• What are my business management strengths and
  weaknesses? Will I be able to proactively manage
  the business?

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What do you commit to become? Create a clear and
measurable statement of what youre committed
to become to be a
profitable and responsible
market leader
in 3 to 5
years!
donaldcooper.com Free Articles B9.
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There are actually 2 kinds of future
1. The future that will happen... -
population demographics, - changing
tastes priorities, - invention
discovery, - political economic
changes, - new emerging nations, -
war terrorism.
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?
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2. The future that you commit to proactively
create.
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Finding customers that you love this much!
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Key questions to ask

• With whom do I have a special relationship,
  unique understanding or powerful connection?
• Whos serving them now and where are they falling
  short?
• Is the market that Im looking at over-served?
• What will I offer that will be extraordinary?
• Will this be a financially emotionally healthy
  business to be in 7 to 10 years from now?

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Focusing on profitable customers
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You cant be an expert on everyone and you cant
make everyone happythats why God invented Niche
Marketing!
I dont know what the key to
success is but the key to
failure is trying to please
everyone.
Bill Cosby
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Every Feb 14th they hold the worlds largest
nude wedding
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Dan the dangerous tree man
Dan specializes in the difficult tree removal
work that others wont even attempt.
and when you call Dan, its never about price!
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Niche marketing
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Sources of market intelligence info

• Chamber of Commerce
• Industry suppliers.
• Trade Associations.
• Hire students to do a market research.
• The internet.
• Yellow Pages.
• Get out and do your own homework.

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Its not good enough to be unique we must be
COMPELLING!
You must create USPs
CPDs
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Dont fall into the research trap
When we do research, we find out what people
expectthen, when we deliver what they expect, we
wonder they dont go
WOW!
So, we do research, not to find out what we
should dobut to find out that which we must
exceed!
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Most businesses make the mistake of defining
themselves by

• The products or services theyve always sold,
• How and where theyve always done business.

its all about them and its all about yesterday!
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Redefine your business by how you HELP
OR
I help people to buy a home and to own that home,
mortgage-free,
as quickly,
conveniently
inexpensively as
possible.
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Clarifying our customer commitment
1) Were in the business of helping
_________ ________________________________________
______.
(whom
including where)
better than our competitors.
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Taking understanding to a whole new level!
When our target customers are buying or using
what we sell

• What are they trying to do?
• What do they want (or need) to know?
• How do they want to feel?

Alive Well examples.
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We need to create compelling BIG IDEAS!

• A BIG IDEA
• Defines your Value,
• Grabs your customers,
• Focuses your team.

Peregrine Lodge, Queen Charlotte Islands, B.C.
Peregrine Guide, Stef Olcen, displays Peter
Toigo Jrs spectacular 72 lb. Chinook.
Peregrine Lodge, Queen Charlotte Islands, B.C.
Peregrine Guide, Stef Olcen, displays Peter
Toigo Jrs spectacular 72 lb. Chinook.
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Your BIG IDEA must be

• Compellingit grabs your target customers.
• Uniqueif its everywhere its not a BIG IDEA.
• Deliverablepromise dont deliver bad idea.
• Profitablelosing money is not a BIG IDEA!
• Sustainablewhats its life expectancy?

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Businesses built around a Big Idea
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Engine rebuilder rethinks what customers really
want and changes business model

• Average shop has an owner and 4 machinists. Pays
  staff 44,000 and himself 50,000.
• One guy changed his business model

• Enlarged his shop. Carries rebuilt inventory.
• Rebuilds 4 or 5 at a time economy of scale.
• Delivers rebuilt engines and cylinder heads
  immediately. Garages turn jobs over quickly and
  customers get vehicle back in 3 days not 7- 8
  days.

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Engine rebuilder changes business model to thrive
in shrinking market

• He added mechanics to his staff and now does
  the entire engine replacement job in just two
  dayslocal garage makes 300 for making a phone
  call.
• With 14 staff, he now has an asst. manager and
  can take vacations with family.
• He makes 140,000 and
  has built a profitable
  and saleable biz.

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We are what we communicate!
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Everything we do communicates
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Advertising problem or fundamental marketing
problem?
Advertising is creative bragging!
the Average North American is exposed to 8000 ad
messages per week.
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When youre delivering compelling Value
compelling communication is easy!
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The power of having well understood target
customers and a clear brand message personality
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The power of proactive communication

• Baskin Robbins ice cream cakes.
• Pizzeria calls customers to ask for the order.
• Companies book my 1-day Mgt. Seminar for their
  customers.
• Liberty Mutual coaches clients on how to reduce
  workplace injuries and illness.
• Coppertone offers UV skin photo and personalized
  suncare profile.

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• Preferred method of payment,
• Complaints problems.

Knowing our customers as individuals

• Name address,
• Phone, fax, e-mail,
• Purchase history,
• Special needs preferences,
• Lifestyle interests,
• Significant dates,

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Finally Thank you for joining me todayand I
look forward to chatting with many of you this
afternoon.
and a promise of ongoing help.
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Free booster shots! Monthly E-tips on how to

• sell more,
• manage smarter,
• grow your bottom lineand,
• have a life!

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So
For your business, For your customers, For
your bottom ordinary life
Whats possible? and whats next?