I am a huge fan of Eric Albertson,
the advice in his newsletters are spot on and his professionalism is beyond
measure. With that I am posting his most recent newsletter verbatim, and check
out the info at the end for his workshop it is worth looking into (No affiliate
programs here just admiration)! This pretty much covers the steps, there is a depth of strategy that is behind this and could be applied a bit more, but this sums it up nicely.
Success Tips Newsletter - In this issue: Case study: question from a reader
The question:
I'd like to
talk with you this week about the profile of my ideal client. Until I took
your Marketing Fast Track class, I would have said, everybody with more than 5
staff can use our services, therefore everyone is a target, right?
My guess is:
"Wrong."
I would like
to clear this up and set up my elevator speech as clearly as possible. I
am the guy who sets all the appointments for my firm; everyone is counting on
me for sales appointments.
I know that
I need to narrow my target market and tighten up my message but I am not clear
on the best way to do this. Today I rely heavily on cold calling, seminars and
networking to create leads. It is lots of work for relatively few leads
and fewer sales.
The website
we have is a shambles, it creates no leads. We do quite well out of
referrals but considering we have a 500+ client base I am sure we could do a
bit better.
What steps
do I need to take to quickly get into action and get better results?
Eric's Response
First, I would figure out some basic
characteristics of who has purchased from your firm in the past (industry,
turnover a.k.a. annual revenue, what they bought, how long they have been a
customer, etc) and chart that out.
Consider the fictional example:
- 80 percent of our buyers come from four types of
businesses:
1. Import/export firms
2. Freight forwarders
3. Drayage operations
4. Port storage operators
- They average 200 employees per firm
- They are usually 20+ years old
- They have at least $10 million in annual revenues
- They are all on the East Coast
- They are all growing slower than the rest of their
industry
Describe your top three ideal
clients, according to what the customer data suggests:
Example
East Coast import-export firms,
averaging at least $10 million per year in revenue, who are struggling to grow
as fast as the rest of their industry.
Next, build a list of everyone who looks
like your ideal clients. The library is a great place to start. Get as many on
the list as you can.
Next, I would take a quick inventory
of the testimonials and stories you have from your ideal clients. If you don't
have two to five testimonials and two or more stories for each ideal client,
get more as soon as possible.
Inventory the top three problems your
company addressed for each ideal customer and the top three aspirations or
goals each had.
Now list the outcomes each ideal
customer sought when engaging your firm, and the results they got. (They did
keep buying didn't they?) For example:
· Wanted
to grow faster than our industry
· Reduce
our turnover
· Increase
our net margin
· And
so on.
Next, build an inventory of 15 - 25
benefits you offer each member of your ideal customer set.
Now create two to five statements that
make the case for why your firm is able to address these needs and aspirations.
These can be very simple, such as:
"We
have been delivering great results to global importers for more than 20
years." Follow this with a quote.
Now make a brief statement that
describes the process you follow to deliver the results.
Finally, jot down two or three next
steps you want the client to take (e.g., read this, call me, set an
appointment, etc).
Your elevator speech or audio logo will
consist of the following:
"We help
____________________________(ideal customer targets #1), who are struggling
with _____________________________(ideal customer targets #1 typical problem).
When they say, "Tell me more,"
you've reached first base.
Now you simply repeat the audio logo
again and say, "We helped them get ______________________________ (ideal
customer target #1 desired outcome)".
Perhaps a brief story will help.
Some of the benefits customers
report getting are: _______________________________________________
People come to us because:
______________________________________ (List your points of credibility.)
May I suggest
_________________________________________ (call to action appropriate to your
base location on Marketing Ball).
The process above will give you a
great start for your elevator speech and audio logo. And it will be your
foundation for a web site that converts.
Next, we want to put a lead source on
all 500 of your clients, so we have a clear idea of which marketing efforts
have been working in the past. That way we can be careful to not stop doing the
things that have worked.
After that, we take all the
businesses in your funnel and put them in one of the following buckets:
· Strangers
· Affiliation
· Attention
(a.k.a. "Tell me more.")
· Familiarity
· Information
· Experience
This is not the whole fix, but it's
a powerful start to getting out of the business of cold-calling, and working
too hard for too little.
If going into depth with something
like this is of interest to you and would help you get more business, you can
register for the Marketing
Fast Track class starting TOMORROW, July 10th at 12 noon,
Pacific Daylight Time. Each session is recorded so that, if you have to miss a
session for vacation or an impromptu golf date, you can still get the value and
stay on track.
I have only
two spots still open, so register fast if you think this will help you get out
of the cold-calling business. Our next class won't start until September or
October. Register NOW !
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