Targeting the correct companies for your new business efforts can be a daunting and time consuming process. Every business needs to target prospects to gain new business opportunities, and many, many potential customers are missed due to poor marketing efforts. So how can you target the people who want to buy? Unfortunately there is not a one size fits all approach to targeting. Every business has their own criteria for what type of customers’ would be using their product or services. Therefore it’s important to really research, think about and plan what you’re offering and who you’re offering it to.
Here are some tips to get you started!
Think about yourself
Before you start any kind of marketing, advertising or any form of selling, you really need to know your company inside out. Firstly, make a list of what your USP’s are, what do you offer that nobody else does? What do you do that your competitors don’t? Some people may roll their eyes at this paragraph, but a lot of businesses struggle to identify their USP’s when looking to do marketing for their company. Secondly, think about the best ways to get this message across. What type of marketing are you going to do? Mailer, Email, Social Media, Digital, Advertising? There are many different ways to do this and you need to do some research into your customers to find out what platform of marketing will get your material in front of your prospects.
Research your customers
Research is vital to knowing your customers, so start to look into your previous and current customers. What industry are they in? What services do they need? How much do they spend? How did they find out about you? It’s always worth doing surveys to find out this information as it could benefit your future business opportunities. A little tip is to also think about what your customer’s customers’ want, especially if they are a B2B business. Most B2B companies provide services that will help another business. If your product or service will help a business help its customers, it’s always worth checking out their customers as well. If you know what they need, and what they are going to use your services for, it’s easier to sell it to them. Social media is also a massive aspect of researching. Is the company on LinkedIn? What groups are they commenting in? What posts are they sharing? What interests them? What are they saying to their customers on Twitter? Remember Social Media is an opportunity for your prospects to reach out to their customers directly, so you can see what they want to offer their customers and in turn, offer them a way of making their business easier. At the end of the day a business will only buy from you if it will aid their business, so don’t be a sale, be a solution.
Narrow down your target market
By narrowing down your target market you may be targeting less people, but you are targeting the right people. By using the targeted approach instead of the shot gun marketing approach, you are sure to have better results. If you have done your research and you know of a certain industry or region that would benefit from your services then don’t be afraid to target smaller, niche markets. If they are the right people to target and actually want your services, your ROI will be higher than if you sent out a marketing campaign to thousands of customers who have no interest in your product. It may sound like common sense, but the urge to have a campaign go out to thousands of prospects to feel like you are making a real effort is real. Ignore the pressure of numbers and focus on the type of customer receiving your marketing efforts. One thing to also remember is that untargeted mass emails could result in your send out’s being blacklisted, and that will have a sharp impact to your email marketing efforts in terms of deliverability. Therefore always put some effort into knowing who you are targeting.
Revise your previous marketing efforts
Look back at previous marketing campaigns and analyse how well they did. A lot of improvement comes from trial and error and finding out what works and what doesn’t work. You don’t always have to create brand new campaigns, especially if you have a campaign that didn’t work very well before. Figure out why it didn’t work. If it went to the wrong people, send it to the right ones. If your content wasn’t very effective, tweak it to try a different message. Minor changes to campaigns make a massive difference, so if you missed a trick before, then don’t be afraid to go back and edit it.
Revamp your marketing
On the other hand, if your previous marketing campaigns have completely flopped, it could be time to revamp your marketing efforts and try something completely new. Look at what your competitors are doing along with other successful marketing campaigns. If you’re really struggling creatively, figure out how you can make other ideas work for you by tweaking them to suit your company and your target market. If you are totally revamping your marketing, it’s best to come up with something creative and original yourself. If you can’t manage that, employ a creative agency to help you. It is difficult to think of something completely original, over the years the majority of things have been done, but doing something different is what gets brands noticed.
Purchase good marketing data
When you’re looking to target new people, buying marketing data can save you a lot of time and effort. If you buy marketing data from Creditsafe, at the time of buying the companies have been previously credit checked and approved as credit worthy, so you know that if they do become customers they will be able to pay you. Our Marketing Prospects allows you to customise your search on over 22 different variables, such as; location, net worth, turnover, credit rating and limit, plus many more. If you buy marketing data you have all the details already there for you, with no fuss or searching on your part.
Follow up campaigns
Following up on a campaign is probably one of the most important things to do, however it rarely gets done for every single campaign. For example, if you send out a mailer campaign, call up a few days after to see if your prospects received it, and when you have them on the phone offer, your services to them. A lot of companies don’t do it as it can be seen as a form of cold calling if you have had no answers to your campaigns, but strike when the iron is hot and your company is at the front of prospects mind’s thanks to your mailer.