Thoughtful Thursdays – Sell to the target market
We will sell to almost anyone who expresses an interest in the products and services we offer. However it is unwise to call on everyone.
The largest companies to do not market their products and services to everyone. They promote to a specific target market. These are the people or businesses who are most likely going to want to purchase. The sales force calls on the prospects generated by the marketing activities with the objective of converting them into customers.
It is important for micro and small business to follow this lead and focus on their identified target market in order to make the best use of available resources. In my experience, new small businesses are prone to deviating from their plans. This is often due to the reality of their sales cycle being longer than expected. They become discouraged and alter their activities prematurely.
It is not that the target market was incorrect, but they underestimate how long it takes to convert prospects to customers. Competition is not as easy to overcome as one might believe.
Stick to your sales process and focus on the prospects that your research has suggested will be most likely want to do business with you. If your target market is correct for the product and services being offered, be patient and the customers will be there.
A prospect not in the target market who calls seemingly out of the blue is a bonus and not necessarily a reason to immediately expand your outreach without first doing your due diligence. Resist the temptation to sell to everybody. It can confuse the marketplace and create a barrier to sales.
Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.
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