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Increase Sales by Identifying Your Target Market and Stop Spraying and Praying Your Sales Activities
Written by: Leanne Hoagland-SmithArticle Overview: Do you feel that you are not getting your fair share of the market place? If so, then can you answer exactly how big of a piece of the pie is that fair share? Now is the time to rethink and refocus so that you accurately know your target market.
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Free Download - How to Craft an Engaging Message That Highlights What You Do to Increase Sales By Leanne Hoagland-Smith |
Increase Sales by Identifying Your Target Market and Stop Spraying and Praying Your Sales Activities
Do you feel that you are not getting your fair share of the market place? If so, then can you answer exactly how big of a piece of the pie is that fair share? Now is the time to rethink and refocus so that you accurately know your target market.
From my experience within my business coaching training practice, I have discovered that many small business owners from under $100,000 to even $20 million do not take the time to accurately identify their target market or markets. These fine folks are so busy spraying and praying their marketing and selling activities that they are truly working harder not smarter.
One gentleman who I greatly admired by the name of Michael Sleppin shared this unique definition of a target market. Your target market must be like Sherwood Forest, large enough to hunt in and small enough to defend. This is a great visual image for those who have yet to identify their target market.
Michael’s definition leads to this obvious question: Where or what is your Sherwood Forest? Think of yourself as Robin Hood and your sales staff as Robin’s key men or women.
Robin Hood was not a generalist in that he robbed from everyone. His specialty was robbing only from the rich and specifically the rich who were aligned with King Richard’s brother.
Now look at your products and services. Are there any specific niche demographics or psycho graphics that can use your products or services? If so, where are they located and what actions do you need to take to keep them in your Sherwood Forest.
The more specific that you can make your target market, the greater likelihood of realizing the goal to increase sales. Small Business Sales Coaching Tip: You cannot be everything to everyone.
Of course, to clearly identify your own Sherwood Forest requires that you invest some time and potentially some other resources. Market research must be conducted even it is somewhat general. As you begin to gain greater clarity, your market research will begin to narrow.
With the plethora of resources available from small business administration service centers to the Internet to mentors and even sales coaches, you should be able to quickly identify your target market. Then as you put forth your sales skills to those who could really benefit from your products and service, you can watch your sales take off and secure that desired prize to increase sales.
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About the Author: Leanne Hoagland-Smith RSS for Leanne's articles - Visit Leanne's website  Her book, Be the Red Jacket is a no-nonsense and quick read to help discover potential gaps that may be keeping you from your goal to increase sales. The forward is by Evan Carmichael of EvanCarmichael.com Remember if you think you cannot or you think you can either way you are right. (Henry Ford). Sales Coaching Tip: Change your thoughts; improve your results. Click here to visit Leanne's website   Business Building Check List Leadership Audit For Business Leadership Assessment |
Related Forum Posts
Online Sales and Marketing vs Traditional
- Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Re: Online Sales and Marketing vs Traditional
- [quote="ltrahan":31w9r2iz]Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
I second the request...
Re: How should i promote a new website?
- ignore this message IF it's already been stated. I haven't had a chance to read all the replies and i have to jet from the office...
I suggest marketing where ever your Target Market congregates. If it's a forum of concerned parents - go there. Strike up a deal with the forum owner (JV) and have him promote it to the list of members (Integration Marketing).
If you want to go with Forums then i would partner with a parent who is a frequent poster/moderator on a particular Target Market Forum and have him/her add your link to their signature.
That was just a thought but it's not as intense once you get buy in from the Forum owner or high ranked poster/moderator.
Hope that sparks some new ideas.
Hello From Marietta GA!
- Hello All!
My name is Tim Naylor and I am in Direct Sales! I am glad I have found EC's sites and I hope to learn and share a lot!
taxes in canada
- Well in Canada we only have a few provinces and the Sales tax is slightly different. Here in Ontario the Goods & Services tax has reduced to 5% from 7% in the last year due to the promises made by the government in place.
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