Successfully Convert Sales, Know Your Target Market!

In my last post I talked about the Foundational elements you need to sell successfully.  Building on this, our next Stellar Strategy to ensure successful sales in your business: you need to know your target market!  Now that is not to say you can’t sell outside of this market, BUT to increase your chances of successfully converting business it is helpful to identify your target market:  the customers who are most likely to purchase your goods and/or services!

Identifying prospects is a critical building block of continued and sustainable sales success.  It will give you a focus and will stop you from wasting time chasing business that may not be suitable.

The best way to start is to think about the customers you have had to date:

• which customers did you enjoy working with? (you want more of these)
• which customers represent repeat business? (definitely more of these!)
• which customers were difficult to work with? (can you change what caused the difficulties? or are these ones you need to cull to make way for better clients?)

You can also include any or all of the following segment definitions:

• Geographics (region, population etc.)
• Demographics (Age, Gender, Education etc.)
• Psychographics (Interests, Activities,Values etc.)
• Behavouralistic (benefits sought, usage rate, perceived need etc.), and
• Industrial (if B2B: Industry type, #employees etc.)

Once you have profiled your Ideal Customers and you have created your target market, you now know who is most likely to need, want and buy your product and/or service!  With this Stellar Strategy you can now ensure that your marketing is geared correctly and that you are giving yourself the best chance at sales success!

Tags: good small business tips, increase business, increase your chances of converting sales, sales success, small business tips and advice, Stellar Strategies, successfully convert sales, target market

This entry was posted on Tuesday, May 25th, 2010 at 9:00 am and is filed under Sales Tips & Advice, Small Business Success. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.