Part 1 of the. Bull s-eye: Finding. Your. Focus

Size: px

Start display at page:

Download "Part 1 of the. Bull s-eye: Finding. Your. Focus"

Holly Jacobs
6 years ago
Views:

1 Part 1 of the Bull s-eye: Finding Your Focus Learning Segment #2-1 -

2 Self Analytical Instrument Finding Your Focus Directions: Read the questions below and respond appropriately. Do you have a clear idea of the vertical market you will Yes No have selected? Do you know from where your existing business is coming? Yes No Could you identify the best market opportunities for you Yes No to explore next? Do your current prospects or existing clients associate and Yes No communicate with one another? Are you working with people like you? Yes No Are you growing your business with people you like? Yes No Focus magnifies your marketing and prospecting opportunities

3 How Do You Find Your Focus in Today s Marketplace? In this learning segment you will learn: How to segment your existing book of business and existing prospects. About the two parts of the marketing bull s-eye. Who to focus on to be sure you re making good choices. What criteria is correct for a good market choice. The Objective in these next three segments is clear: To determine your best market(s) so you can personalize and humanize your efforts to grow your practice successfully and profitably. How to find your focus? 1. Choose a type or group(s) of people to work with as your targeted vertical market based on what they do for a living, where and what they do for recreation or gather to support their special interests. 2. To personalize and humanize your efforts you must market yourself, your services and your products to specific groups of. So be sure to choose a market where you: A. Have something in with the people. In other words, people to whom you. B. Have products and services to the market

4 3. As a result you can work your target market vertically and. Why is deep vertical growth important? Horizontal Growth = increased. Vertical Growth = increased. Remember, markets are, not products

5 How do You Find and Target Your Best Vertical Market or Markets FIRST STEP: Know What To Look For! 1. We want a segment or group(s) of people. Remember, based upon: the organizations that support them in what they do for a. how & where they. what special interest groups in which they are. 2. The segment or group of people you choose need to and with one another on a regular basis. Critical Networking Criteria: A. They regularly. B. They have a sense of. C. They have common. Communication include some, if not all, of these criteria: A. They publish a regular local, either online or as a hard copy. B. They publish a magazine or journal. C. They and frequently, at least four times per year. D. They have an organizational and/or local communication devices such as a blog. If your vertical market choice does not network and communicate with one another, it will be next to impossible to grow profitably and consistently in the affluent marketplace

6 SECOND STEP: Focus On The Two Parts Of The Marketing Bull s-eye Part 1 Part 2 Existing Prospects/Clients New Opportunities BEGIN BY EXAMINING PART 1 FIRST Part 1: What is your existing Vertical Market? For new recruits, analyze your current list of prospects or, for everybody else, analyze your best clients. Step 1 New Recruits List the names and addresses of the people you know locally such as those on your initial prospect list or project 100/200. Everyone Else Print out your 20 best clients. In other words, grow your business from the top! Step 2 Whether a veteran or a new recruit, use the segmentation worksheets at the back of this segment of the workbook, to review and determine the common networking and communication characteristics of each person. Characteristics such as, what they do for a living, recreational activities and clubs and their special interest affiliations

7 Specifically: Using the worksheets and scripts provided on pages of this workbook, ask your clients and prospects these questions and discover untapped vertical markets: What type of are they in? What type of are they in? What type of? What do they belong to that support their business, profession, or occupation? Where do they? Which clubs? Where are their children? What are their charitable, cultural, or ethnic interests and to which organizations do they? - 7 -

8 Once segmentation worksheets are completed then: A. them into specific groups based upon what they do for a living, their support associations, recreational clubs to which they belong and special interest affiliations and groups they support. B. Review the. With whom would you and do you enjoy working? C. Make sure the group seems large enough to keep you If it s too large it will be difficult to gain visibility D. Could they possibly in some way to spread your name, and act on your behalf? E. How do they seem to with one another? When do they meet? How often? The goal is to identify specific groups of you enjoy working with and want to build around. Use the segmentation worksheet found at the back of this section of the workbook on pages

9 THIRD STEP: Be Sure You Can Relate to the People in The Market(s) You Choose and Have the Products and Services to Support Them Remember, the Objective really is to determine your best market(s) so you can personalize and humanize your efforts to accelerate your growth. (TIPS TO HELP YOU CHOOSE ARE ON THE NEXT PAGE) - 9 -

10 Tips to help you choose your best Vertical Market. 1. The key is to first identify and then work with specific groups of people with whom you have an or. Simply put, look for groups of people in whom you have a interest and in whom you can take a personal interest. 2. Be in your choices. Small business owners is not a target market. What specific type of small businesses are these people in and which are you choosing? People who play golf or ride bikes is not specific enough. Where they network and communicate, i.e., at what golf club, is the right choice. 3. over-analyzing your choices. Choose the people you feel you really like to be around. 4. To move ahead, make a decision and now. Gather the information about your best clients and prospects. Choose one vertical market and choose wisely; particularly, where you are already connected and have delighted advocates for you! 5. Be sure you choose based on your to them, and not just because they may have money. The interest you take helps separate you from other individuals and teams

11 6. Be sure you don t get if no group looks good. You still have the second half of the bull s-eye new marketing opportunities ahead to explore. Once you have selected the group of people you really want to build a future business around, then categorize them. If you have chosen a group of people based on what they do for a living, such as: People who own a specific type of, such as a restaurant, dry cleaners or print shop; OR People who are employed in a certain or at a certain plant such as a plumber, comptroller or factory worker; OR People who are to work such as an orthodontist, teacher or therapist. We ll call these Markets, meaning specific things people do and places they work to earn a living

12 If you have chosen to build future business around people based on what they do for recreation or their special interest such as: Play tennis, golf, go bowling, bicycle, run, play Bocci; OR Are involved in family activities such as PSTA, Girl Scouts, Boy Scouts, or Lamaze classes; OR Belong to the Cancer Society, the local Church, Temple, Synagogue or Mosque. We ll call these Markets, meaning what people do to shape, support and enhance their lifestyles. Once you ve identified which of these two market categories you are working within, then identify in what specific of market the people you have chosen belong

13 IN THE ENTERPRISE CATEGORY THERE ARE THREE TYPES OF MARKETS: 1. owners 2. Specific or 3. Specific. If you chose people with whom to work that are auto dealers, restaurateurs, dry cleaners, or owners of welding shops, you know they are small business owners. If you chose people with whom to work that are plumbers, truck drivers, mechanics, or workers at an automotive plant, you know they are workers in a certain specific occupation. If you chose people with whom to work that are teachers, professors, physical therapists, orthodontists, you know they are professionals because they are licensed to perform their work. SO TO RECAP: If you chose restaurateurs from your existing clients or prospects as the people you enjoy and want to network with and build future business around, you would describe your choice as follows: The market category I m working in is: The type of market is: My specific Vertical Market is: Enterprise Small Business Restaurateurs (On the next page are Lifestyle Markets)

14 IN THE LIFESTYLE CATEGORY THERE ARE ALSO SEVERAL TYPES OF MARKETS. They are: 1. Families Families SO TO RECAP: If you chose parents of the local Little League teams as the people you enjoy and want to build future business around, you would describe your choice as follows: The market category I m working in is : The type of market is: My specific Vertical Market is: Lifestyle Young families Parents of the local Little League Teams Now Take Action After you complete the segmentation worksheets this week, write the targeted vertical market you found within your existing clients or prospects on your marketing action plan found at the back of this section of the workbook on page 41. It will help you build your vertical market plan and relationships with these people

15 Tools to Use Segmentation Worksheets To find out what your prospects and clients do for a living, recreation or what their special interests are, use these scripts and processes. Use the worksheets on the next several pages to find out what your prospects and clients do for a living, recreation, or what their special interests are: How? New recruits: Call or meet with your prospects, be conversational, be a good listener, and use this script: I m getting into the financial services business and need your help identifying the best markets amongst the people you know. To help me focus my marketing efforts and to serve people effectively, what are some of the associations, clubs and organizations that support your business/profession/occupation? (People love to talk about themselves.) What are some of the recreational, charitable or cultural organizations to which you belong? Then segment based upon commonality of industry, interest, involvement and membership, and select your initial vertical market based upon your ability to relate

16 Everyone else: Call your best 20 clients yourself to update your files and help you better serve and focus on your best clients. Use this script: We have made a decision to know more about our clients, so we can serve you better and grow our business with more people like you. To help us focus our service efforts and marketing activities, and to update our file data, what are some of the (associations, clubs, organizations) to which you belong that support your (industry, profession, passions)? What are some of the recreational, charitable, or cultural organizations to which you belong? Be conversational and demonstrate good listening skills. Then segment them based upon what they all do for a living, where they recreate, and what their special interests are, as well as the organizations to which they belong. Then select your initial vertical market to target based upon your ability to relate

17 Existing Client/Prospect Segmentation Worksheet 1. Veterans, list up to 20 of your best clients/prospects. New recruits, add extra paper and list your top 100/200 prospects. 2. Use the power scripts in this section of the workbook on the previous pages. 3. Group them together based upon their club and organizational affiliations. 4. Pick your best targets to leverage and gain visibility. Name Occupation, Business, Profession To What Business, Industry, or Professional Organizations do they Belong? In Which Recreational Clubs are they Members? In Which Educational, Religious, Cultural, Ethnic or Charitable Organizations are they Members or Active?

18 Existing Client/Prospect Segmentation Worksheet Name Occupation, Business, Profession To What Business, Industry, or Professional Organizations do they Belong? In Which Recreational Clubs are they Members? In Which Educational, Religious, Cultural, Ethnic or Charitable Organizations are they Members or Active?

19 Existing Client/Prospect Segmentation Worksheet Name Occupation, Business, Profession To What Business, Industry, or Professional Organizations do they Belong? In Which Recreational Clubs are they Members? In Which Educational, Religious, Cultural, Ethnic or Charitable Organizations are they Members or Active?

20 Existing Client/Prospect Segmentation Worksheet Name Occupation, Business, Profession To What Business, Industry, or Professional Organizations do they Belong? In Which Recreational Clubs are they Members? In Which Educational, Religious, Cultural, Ethnic or Charitable Organizations are they Members or Active?

21 Existing Client/Prospect Segmentation Worksheet Name Occupation, Business, Profession To What Business, Industry, or Professional Organizations do they Belong? In Which Recreational Clubs are they Members? In Which Educational, Religious, Cultural, Ethnic or Charitable Organizations are they Members or Active?

22 YOUR EXISTING CLIENTS OR PROSPECTS YOU WANT TO TARGET IN YOUR ACTION PLAN A. The majority of my existing (best) clients or prospects are in one of two specific market categories, either Enterprise or Lifestyle. B. The specific type of market the majority of them are in is: If ENTERPRISE - the type If LIFESTYLE it is one of these: of market is one of these: (Choose one) (Choose one) Small Business Young Families Cultural Organizations Professional Mature Families Ethnic Groups Occupation Recreational Religious Affiliations Charitable Organizations C. My specific vertical market, within the type chosen above, is:. D. I have a total of current clients or prospects in this specific vertical market. Eureka! The specific vertical market I am already in is. from C above I am going to pursue the prospects in this market using the strategies and tactics in this educational series. Review this information again when you design your Master Marketing Plan during the last segment of this Learning System. NOTE: If you have identified more than one, fine. Simply list your #1 choice here. You can revisit your other choices later

JOB SEARCH: LESSON PLAN 6 THE JOB APPLICATION

JOB SEARCH: LESSON PLAN 6 THE JOB APPLICATION Summary: Entering incorrect information into a job application can result in missing an opportunity to be interviewed, or being released from a job. Help students