Targeted/Strategic Marketing--Renaissance Resource Group, Ltd.

Targeted/Strategic Marketing
Getting (and Keeping) Customers

The overall purpose of a business marketing strategy should never be forgotten -- that is, to get (and keep) a customer. A targeted strategic marketing approach with its emphasis on finding specific leads (using the companies' own database or files) is a very powerful and effective method to accomplish this goal.

Specifically targeting customers and focusing on proven methods will ensure greater success. For example, at a trade show what percentage of people actually stop at your booth? What percentage of those are actual leads and, from those, hot leads? Instead of trying to sell to random companies, what if you targeted companies (likely to buy from you) in a mailing and invited them to the trade show? What if you used the proven advantages of your product/service, and focused in on why they should buy from you rather than the competition? The number of hot leads would be dramatically increased because the people actually coming to your booth would be those that were already interested in your company and your product/service.

The outline of the methodology listed below is systematic and proven. In order to set up an effective targeted/strategic marketing plan, certain information should be first obtained and steps undertaken. This includes determining your ideal customer profile, unique product/service advantage, and unique competitive advantage by the use of internal and external research. From the information gathered, a clear targeted marketing strategy can be developed, written and implemented. This business model thus becomes the basis for a focused effort to obtain sales leads and new customers.

Your Ideal Customer Profile.

The first step is to identify the ideal customer profile using your own database/files. Only you know who your key accounts are, which ones are the most profitable to you, and which types of customers you want in the future. This profile can be determined by answering the following types of questions:

Who are your best customers?
What is their size, location and product line?
Who in the company is your target (i.e. what is their title)?
What products/services do they buy from you?
Etc.

Once you have identified your ideal customer profile, you will be able to use this information to target new customers (i.e. other companies that have the same profile as your best customers are more likely to buy from you).

Your Unique Product/Service Advantage.

The next step is to determine your unique product/service advantage. You must determine what it is about the product or service that differentiates it from the competition by answering the following types of questions:

Are the products/services perceived as better in some way?
Are they cheaper at the same quality level?
Are they better quality at the same price?
Etc.

The information generated from this research will be your selling point to focus on in literature, sales presentations, on a Web site, etc.

Your Unique Competitive Advantage.

After the above steps are completed, the unique competitive advantage can be ascertained. Depending on the size of the market, the extent and depth of the market research needed can be determined. Listed below are examples of questions to be asked.

Who or what is the main competition?
How many others are doing this?
Have customers been asked why they buy?
Why would someone buy from you?
Etc.

If you can't answer these types of fundamental questions--clearly and in depth--you must obtain the answers. These advantages will be the ones to focus on in literature, sales presentations, on Web sites and the like.

In Conclusion.

The goal in determining your ideal customer profile, unique product/service advantage, and unique competitive advantage should be a repeatable business model with a documented targeted marketing and implementation strategy. This includes developing literature, creating or maintaining a Web site, and determining trade show participation. Potential new customers can be located with a higher percentage of success by targeted marketing techniques. These techniques can be used to greatly increase the quality and quantity of sales leads obtained for the sales force.

Following the methodology outlined above will result in getting more and better qualified sales leads and, more importantly, an increased customer base.

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Renaissance is a management consulting firm that specializes in implementation and adding value in short time frames for companies engaged in manufacturing, distribution and service.

Renaissance consultants are the publishers of the "NJ Directory of Select Service Firms and Organizations®."

Senior management expertise is available for assessment and implementation in the following:

Project management - using hands on leadership to help assure on-time and within budget completion of special projects by proven senior level operating executives.

E-business utilization/Internet marketing along with Web site evaluation and e-commerce.

Strategic/trade show marketing - preparation of strategic and targeted marketing plans, including implementation.

Business Positioning - preparation of business plans, growth/marketing strategies and acquisition plans. Also break even valuations for companies seeking additional capital; sales growth; growth by acquisition; to enter new markets; to be acquired; or to go public.