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Target Marketing - Can You Spot An Ideal Client
Imagine there are 100
potential prospects for your business in a room and you could select
only 3 of them to become clients. Do you know the questions you would
ask to identify the ideal 3?
This question is posed as
part of our quiz "Lead Generation & Conversion: Are You Winning?”. We
often ask this question when helping business owner-operators plan their
marketing strategy. Their response is often preceded by a long pause.
Just when you thought you knew everything about your clients, it appears
there’s more to know.
Potential Clients
A potential client is
anyone who might possibly buy your product or service. For example, a
recruitment business may define a potential client as "any business that
needs a temp", or a tea manufacturer may say "anyone who drinks tea".
In both of these examples
the definition of "potential clients" is correct. However, it provides a
shaky foundation for your marketing strategy. You need to push your
thinking further.
Become a Sea Eagle
Sea eagles are very savvy
birds. Essentially any fish in the sea is a potential meal for them yet
they don't dive after every fish they see. Why not? They know there is a
limit to their energy and resources so they need to wisely pick out fish
that will maximize the return on the energy expended during the catch.
White bait is too small and marlins are too big.
Small and medium businesses
also have limited resources. Are you going to wildly dive after every
opportunity you see or wisely select those catches that have a good
return? If your limited marketing budget is going to deliver results,
you need to focus all of your activities on your ideal clients.
Ideal Clients
Ideal clients are a subset
of your potential clients. Ideal clients are those prospects who will
provide you with the maximum return on your marketing investment. The
challenge is to establish some specific and observable criteria to
clearly separate your potential and ideal clients. Here are some working
examples to get you thinking.
Recruitment firm:
Potential clients - "any
business that needs a temp" Ideal clients - Located within 5 km radius,
has an ongoing requirement for at least 3 temps, is adding at least 5
new staff each year, professional services industry
Tea Manufacturer:
Potential clients - "anyone
who drinks tea" Ideal clients - cash rich DINK's, inner city, socially /
environmentally conscious, middle / upper management
Can you see how you could
walk into a room of 100 people and ask specific questions about these
criteria to identify your ideal clients? Another interesting exercise is
to ask everyone on your team the question that we have posed and see
what answers they come back with. It will tell you very quickly if you
need to up skill and train your team to become more effective at
spotting sales opportunities.
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Kirrily Dear is the
Founder and Development Director of Eyes Wide Open. Kirrily has
worked in the field of strategy and research for the last 13 years.
Her experience extends internationally to include North America, UK,
Europe and New Zealand. She is a widely published writer in the
field of business development.
http://www.eyeswideopen.com.au/
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