Recently attended a social media webinar. As one of the topics, developing your target market was discussed. I decided to share a bit of our methodology and practice.
Do you know your target market?
We find many clients have a brief description of their clients and that just isn’t enough information to identify the best future prospects. You must be spot on with your defined targets in order to maximize your results – brief is just not enough!
Recently we composed a simple survey for a few of our clients. This survey asked simple questions but became very difficult as we pushed each to investigate and understand more about their clients and future prospects. It really is surprising how, as business leaders,we think we know our clients, but when surveyed can’t answer completely or with factual back up. Many tend to answer from the gut feel of who they work with. Again, not enough.
Ask yourself, can you identify the following 3 characteristics about your best customers?
Try the following:
1. Do you know the age range of your client?
2. Product types – what do they produce or provide?
3. When and what was last purchased by your client from your company by month and product?
For most that looks simple, but try it, answer those 3 questions about just the clients or prospects you talked with today.
Without a great memory or a good CRM system, you may find that a bit difficult. If you deal with 20-30 clients or prospects a day, that’s roughly 5200-7800 contacts in the last year. Sending out campaign emails, brochures and other marketing items to 5200 prospects can get very expensive. Even calling them again can be expensive. So being able to properly identify and target is a must to maximize your successes. As you spend money on marketing campaigns and programs, it is critical to be able to communicate with those best suited to utilize your products and services.
These simple questions and your ability to answer them will allow you to understand if you really know your clients. If you don’t know your clients well, you can’t expect to gain new clients from the prospect pool easily and economically?
The reason we focus in this targeting regularly with our clients is because we know a key component of a successful CRM system is knowing what to track, who will the messages be targeted to and when is the best time to communicate. Connecting to the RIGHT PERSON at the RIGHT TIME with the RIGHT MESSAGE is key to being successful. So, analyze and know what your key benchmarks are. Then incorporate just 3 of these keys into your prospecting database. Having just 3 relevant facts about your clients in order to build a prospect set is a beginning to a successful campaign.
With CRM systems, such as those provided by our team at TeamAutomation, you can store this key information easily, access it with speed and act on it to provide opportunities with speed.