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Sales Lessons From Starbucks And Dell

Increase Sales by Identifying Your Target Market and Stop Spraying and Praying Your Sales Activities



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.

Increase Sales by Identifying Your Target Market and Stop Spraying and Praying Your Sales Activities - To learn more about this author, visit Leanne Hoagland-Smith's Website.

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