We’ve heard “know your target audience” for years in marketing and sales. But not many are really looking at the audience they sell to very well. In fact most do not have the proper tools to do so.
Knowing your audience is difficult because it requires saying no to opportunities more than saying yes.
This is not something business owners want to do when you look at your Profit and Loss reports. But if you want more profit, and to outlast your competition, you may want to consider saying, “no” more.
The power of knowing your targeting audience, or target market
Without a CRM and proper metric tools you’re simply not going to get a clear picture of your audience. Therefore, your sales team will be chasing each lead and not closing as much.
It’s the idea of casting a wide net and hoping you catch something rather than focusing on the right business owner you can help and deliver a good service or product to, while making money for you to stay in business.
Notice I wrote, “the right business owner”, not business.
Start taking inventory of the “good sales,” or rather, customers you like to work with that pay fairly, versus the ones that are headaches and over demanding. From that you have a start to determine where to place more sales resources. But you have to start somewhere and start selling, and you will find some bad apples along the way.
Sell Relationships, Products, and Accessibility
The best sales deals are the ones where the business owners are likable, thus leading your team to overdeliver, and your sales team to under promised. This is the cornerstone of sales that often gets overlooked for quotas.
Relationships lead to another important thing for a business. Retention rate. If you are engaged relationally with a customer, and that customer is likable, they know other likable potential customers.
Each business owner I’ve met over the last 5 years has two things that they need. More customers, and relationships to get more customers. But are they looking for the right customers?
Accessibility is huge that i have seen where the product or service can sell itself if it’s easy to use and acquire. Whether we like it or not we are in a age of Do-It-Yourself. DIY is affordable, but the up-front cost of learning to do things well is hidden from business owners. Thus DIY becomes costly when attempting to scale.
So whatever you are selling, make sure it’s easy to understand, and forges a partnership with your team via your account services after the sale. Turning each account from Do-It-Yourself to a Help-Me-Do-It-Myself with your expertise.
Bad people refer bad leads
Referrals are the most important lead source for businesses. A bad referral will cause you to spend more resources to support, driving up your internal overhead with more staff, software, and everything that goes with that.
The key to running lean is to acquire customers that don’t over strain your current resources. Basically,
Work smarter not harder.
Consider the customer base you have. Are they profiting from your services? Are you profiting from them? It’s a two way street.
Are they making the right internal moves? If not their chaos internally will become yours.
Are you spending more time with your team internally than you are billing and supporting this account? Or is this account causing you to not spend time selling to other better potential new customers?
As an Agency you cannot control what happens after that form is filled out if that is all you’re contracted to do for them. Many times sales does not research their leads with the idea in mind of asking for referrals.
Good customers will increase your sales by their referrals But most importantly they can provide a pool to fish from that is not a guess as to what is in it. You’ll see your win percentage rates increase, and team become more energized to do the work to fulfill the services.
Sales teams need sources for leads. The team needs accounts that make the job enjoyable. So careful who you sell to.
“Your scientists [sales or marketing team] were so preoccupied with whether or not they could, they didn’t stop to think if they should.”Dr. Malcolm – Jurassic Park (altered)