Creating a marketing plan is easy – define your target
market, and then select marketing media that resonates with that group.
The hard part about defining your target market is that it
never gets specific enough to do comprehensive marketing with a group that is
small enough to saturate.
Most people start defining their target market with
demographic, geographic, and psychographic limiters. This is actually a
good place to start.
The next level of picking your BEST client involves using
the L.E.E.E. principle. I have stolen this with pride from Rainmakers
Marketing Group Executive Director, Nikki Lewallen.
Using this method, you will be able to separate the “good”
markets from the “GREAT” ones, and truly maximize your marketing efforts.
Here are the four qualifiers to defining your BEST client:
1. Lucrative
– Do you make the most money/profit from this client?
2. Experience
– Have you served this type of client over and over and over again?
3. Expertise
– Would you consider yourself the BEST in the market place at serving this type
of client?
4. Enjoy
– Do you love working with the particular market that you are talking
about?
To pick your best market, judge each against the L.E.E.E.
principle, and select the one that has all 4 characteristics – or at least more
than your other market options.
When you do it this way, you have a better chance of
spending your marketing dollars wisely, enjoying your work day, providing an
effective service, and making money!
Jamar Cobb-Dennard
is a sales and marketing expert who helps companies without a sales force have
a sales force. To receive your free trial of a software that will track
your referral revenue, centralize social media updates, and automate
email/text/postcard marketing, click here.
