Every organization has limited resources.
Precious commodities like time, money and energy are often in short supply in the largest companies and it is certainly case of your small or midsize business.
How can you make sure that you are applying as many resources as possible to reach your most valuable customers?
In general, you can rank the value of your customers by volume and buyer intent.
The audience of most businesses can be described as a bullseye.
The outer black area is the largest, but offers the lowest point value and represents the general public, while there is tremendous potential as the general public has a lot of people it isn't very likely they will become paying customers.
The white section represents an audience who is interested in what you have to sell but aren't ready to buy just yet or people who are interested in buying but can only buy a small amount of what you sell. There are fewer people in this section but they are a lot more valuable.
The last and smallest section is the red center section otherwise known as the bullseye. This group is by far the smallest group but boy are they valuable! The people in this group are very eager to buy what you sell or they have the potential to buy large amounts from you.
One group that is hard to put in a clear spot is the people who are not that interested in what you sell but can influence the decision of your customer to buy. Depending on the level of influence they are either in the white section or the bullseye. For example, you might sell life insurance and one of your customers might be able to put in a good word with his brother-in-law to buy a policy from you (white section) or you may own a flower business and your cousin has a catering company and can recommend customers making a wedding to use you (red section).
You only have so many darts. Make sure you are aiming for the bullseye.
Let's discuss a specific example.
If you sell bicycles, where will you find your customers?
You can choose to spend money to advertise in a news magazine and reach the most people but only a small amount will convert into customers. (Black section) You can sponsor a bike race (white section) or you can start a weekend biking group (bullseye).
Spend the most time and energy coming up with ways to target your bullseye to win.
Like this post? Book a free consulting session today and let's start hitting your bullseye