zoom in on your top prospects: 4 steps to your ideal 2018 target market
TRANSCRIPT
Zoom In On Your Top Prospects:4 Steps To Your Ideal 2018 Target Market
POP QUIZ:Which of the following is the
biggest drag on sales success?
Reps don’t spend their time on the right prospects
Reps don’t know what to say on phone / in appointments
Reps don’t use the right tools (e.g., email marketing, CRM)
THE 40-40-20 RULE of LEAD-GEN
LIST (40%)
If you don’t TARGET THE RIGHT PEOPLE, your results
will always be mediocre.
OFFER (40%)
When you OFFER VALUE to your prospect, you give them a
REASON TO ACT. Otherwise, they won’t.
OTHER (20%)
WHAT YOU SAY (words) and HOW YOU SAY IT (images, design, visual appearance) are
important, too.
3 PRIMARY FACTORS determine the success of your lead generation:
YOUR LIST = YOUR TARGET MARKET
Your SUCCESS RATE goes up, and you can sell more stuff in the same amount of time.
When your TARGET MARKET is filled with your BEST PROSPECTS, you spend more time on prospects likely to buy.
Zoom In (Not Out)
STEP 1
My target market is
HUGE!
My target market is
small.
Target market? I’ll eat
anything.
My target market is clear and focused.
WHICH BIZ-DEV ANIMAL ARE YOU?
TARGET MARKETS AREN’T ABOUT SIZE... ...THEY’RE ABOUT FOCUS.
TARGET MARKET FOCUS: THE JELLY BEAN TEST
If you only like RED and BLUE jelly beans, are you better off with a bigger jar? Or separate jars that let you pick your color?
SLOW, INEFFICIENT TARGETED, FAST, EFFICIENT → HIGHER SUCCESS RATE
KEY POINTS
Your time is irreplaceable; use it wisely
Even if you sell to “everyone,” some leads are better
Focus on strongest leads = more appointments & sales
In BWise, use the DESIGN QUERY feature to focus your target market according to your ideal demographic criteria
BWise User Tip
Start With Your Current Clients
STEP 2
YOUR CLIENTS → YOUR STARTER CHECKLIST
Your CURRENT CLIENTS are FORMER PROSPECTS who already decided to buy from you. Use their demographics as a starting point:
INDUSTRY SIZE SALES
LOCATIONSTRUCTURE REACH
◯ Banking◯ Telecom◯ Etc.
◯ Large◯ Medium◯ Small
◯ <$25M◯ $25-100M◯ >$100M
◯ Public◯ Private◯ Other
◯ Local◯ National◯ Global
◯ Office◯ Industrial◯ Retail
KEY POINTS
Current clients offer a roadmap to sales success
Some client relationships are better; focus on those
Not sure why a client bought from you? Ask them!
From a client profile in BWise, click FIND LIKE to pull up a list of similar companies
BWise User Tip
Filter For Your Ideal Prospect
STEP 3
CREATE YOUR “SECONDARY” LIST
Not every contact in your target demographic is a good prospect for you. QUALIFY your prospects by applying ADDITIONAL FILTERS to hone your list.
“EVERYONE” = WEAK & WATERED DOWN
CLIENT DEMOGRAPHICS = STRONGER
QUALIFIED PROSPECTS = STRONGEST
DIG DEEPER: 5 QUESTIONS FOR YOUR CURRENT CLIENTS
“Name 3 PROBLEMS or CHALLENGES
you faced that we’ve helped you address.”
“How long were you ACTIVELY
LOOKING for a solution?”
“As you considered investing, WHAT
WAS APPEALING TO YOU about our product or service?”
“With other options available to you, why did
you choose to invest with us RATHER THAN
OUR COMPETITORS?”
“Was there ONE THING OR
MOMENT that made you decide to invest?”
...TO UNCOVER THE CHALLENGES YOUR IDEAL PROSPECTS FACE.
ASK YOUR CLIENTS THESE 5 QUESTIONS...
KEY POINTS
Your target market is more than just a list of prospects
It’s a set of demographic & psychographic criteria
Your goal: maximize time with strongest prospects
BWise users can add USER-DEFINED FIELDS to each profile to further refine their target market criteria and qualify prospects in real time
BWise User Tip
Sharpen & Repeat
STEP 4
THE LIFE CYCLE OF A TARGET MARKET
Without any changes, the POWER of your target market can FADE over time...
ALWAYS REVIEW... ...AND REVISE......STAYS FRESH!
...SO YOUR TARGET MARKET...
KEY POINTS
Review client list: any changes?
Measure results vs. expectations: any surprises?
Economic landscape: any new markets / opportunities?
INSIDERS
© Business Wise Inc. 2017
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T. 214.306.0605