In most cases, an entrepreneur believes that “everyone” is a potential customer. This is simply not true, and after clarity is achieved, a substantially lower number of candidates is revealed. That’s the bad news. The great news is that this smaller number—when you identify who, what, and where they are, and align all your marketing and sales resources and efforts around them—means that you’ll drastically increase your business-development results.
When I say, “clarity is achieved,” I’m referring to the understanding that your target market is defined by the demographic, geographic, and psychographic of your ideal client or customer. That’s right, psychographic. The demographic and geographic always roll off the tongues of most clients. It’s clarifying the psychographic that uncovers the real magic and value. These are things such as how they think, act, feel—what they appreciate and value.
The psychographic of our ideal client at EOS Worldwide is a leadership team that is growth-oriented, entrepreneurial, frustrated, open-minded, respectful, appreciative, and eager to get help. Without this psychographic, we could target literally five times the companies that we do. The less of the above a leadership team is, the less likely it is we can help it and the higher the odds are that someone is going to end up unhappy. When the team has most or all of the above qualities, it is our opportunity to shine.
So, who is your target market and its psychographic? Think about your best client relationships. After reflection, you will find that the psychographic is at the core.
What gets really exciting is when you stay true to your target market. You’ll start making steps toward identifying, aligning your marketing and sales efforts, bringing on target market customers, and then upgrading existing ones. It’s a process. And the more your client base is made up of your ideal target market, the more referrals you’ll get in that target market. You are going to get more of what you have. You have a choice. Which do you want more of?
Start the process today.