How Many Prospects Do You Really Need? Print E-mail

River of customersThe ocean full of customers is an awfully big place to go fishing when you could do very well in the river or dam nearby?

Here's what I mean.

Most small businesses make the mistake of trying to attract the attention of people world wide seeing them all as potential customers. Not only is this a tough way to market, it's frightfully inefficient as well.

If you only need a handful of clients, why not concentrate on marketing to a handful of prospects.

If you need more than a “handful” then the concept is just the same

My suggestion is that you determine the number of new customers you need next year to grow your business as you've planned (I know, you don't have a plan, but how many do you need to keep paying the bills and make some money?)

From that number, take a stab at how many really qualified prospects you would need to get your message in front of to acquire the customers you need. For example, if you need or want 10 new customers a month, you may only need to contact 50 per month to get that.

Get focused on what you really need.

What if, instead of trying to get your 50 specifics from the sea of prospects, you identified 500 very qualified suspects (BTW: A suspect is someone that you suspect may need what you do - they only become a prospect when they raise their hand and ask for more information about what you do.) and made an all out push to educate them on why you are the obvious choice for them?

When you work with a smaller, more reasonable number of suspects you can afford to spend the necessary time and resources to get their attention and communicate how you are different. With a defined group of suspects you can create a budget that allows you to contact every member of this list once a month, including calling every single one of them to follow-up on a mailing. Your marketing efforts to this chosen group will be far more effective and far more focused.

One of key elements to the success of this approach, of course, is that you work with a list of suspects that actually meet your ideal target client profile. If you don't know that piece of the puzzle (one of the “10 questions that can change your business”) you may end up fishing on the wrong side of the dam or using the wrong bait.

My experience is that when you can get your arms around this very qualified suspect list they become more real, more manageable. When you can start to put names and addresses to your potential clients you can actually begin to see them as clients. You can identify others who could refer you to members of this list. You can afford to start building personas (customer profiles] on each of your core customer groups to better personalize your marketing efforts.

Cast your line out into this river and you may find that even the big fish are biting.



 

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