Strategic Targeting & Customer Profiling

Right now there is that uplifting feeling of spring approaching. Tightly closed yellow daffodil buds ready to burst into boom. Crisp blue skies which bring that fabulous sharp light. A rejuvenating brisk air and the noticeable longer days. All of which I think helps to focus mind and spirit on a fresh business strategy for finding new clients.

So where to start? Carefully consider who to target. Who you would like work for and realistically who would give you the work? Define your target and customer profile. Essential characteristics to consider are:

• Industry / market sector
• Location
• Company size (turnover, number of employees, etc)
• Financial or commercial trends
• Their clients and target market
• Your minimum order / budget spend / account valuer per annum
• Your compatibility with them

Take a look through your best clients and see how they fit with your target profile. What common characteristics do they have? Can it be improved? Or would you like more that are similar or better or both?

Once you've decided on your target market, consider the following:

• Are there enough potential companies who fit your target criteria?
• Will your target market really want your product or services?
• Can they afford your product or services?
• How often are they likely to need your product or services?
• Number and strength of competitors in  your target areas.

Get your strategy executed as soon as possible! Slow starts = slower development - slower results. This might not be the pace and timescale you want that new business to land within. From time to time review and revisit your target criteria. Don't be afraid to re-pivot. Be honest about your mistakes and if necessary change direction quickly.

That's it for now. Check out my future blog for more tips. Gosh I just looked outside and it's snowing!