FINDING YOUR TARGET MARKET

Transcription

1 FINDING YOUR TARGET MARKET Stephen N. Davis Partnering With Clients to Drive Sustainable Profitable Growth

2 Start-ups Fail Business Models that Don t Work

3 Start-ups Fail From a Lack of Customers

4 If You Get on the WRONG Train Every Stop is WRONG

5 The most important strategic decision is targeting nail this and everything else falls into place. Phil Kotler, Northwestern University

6 Start-ups Wait Too Late to Find Customers

7 You are NOT The Customer

8 Don t Confuse the Buyer With the User

9 Don t Confuse the Buyer With the Sales Channel

10 That is Why Start-ups Fail At Finding Their Market CXO Advisory Group

11 Focus on Customers & Markets From Day 1

12 Get Out and Talk to Potential Customers

13 Who Should You Sell To?

14 Don t Focus on ALL Potential Buyers

15 Evaluating Segment Attractiveness

16 Segment Size & Growth

17 Structural Attractiveness Level of Competition Substitute Products Power of Buyers/Suppliers Ease of Channel Entry Company Resources & Objectives Customer Acquisition Costs

18

19 Map the Buyer s Profile

20 What s The Buyer s Journey?

21 What is the Buyer s PAIN?

22 What Do They Care About? Consumer Status Health Business Lower Risk Saving Money Environmental Family Finance Value Productivity Customization Customer Engagement Market Penetration Convenience/Time Saver Competitive Advantage Usability

23 How Much Do They Value Various Features?

24 How Do They Value Your Competitive Differentiation?

25 Where Do You Find Them?

26 Who or What Influences Them?

27 How Do They Want to Engage and Buy?

28 Who is Involved in the Purchase Decision?

29 Buyer s Cycle is the Key

30 Align Marketing & Sales

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32 Sales Says Your Marketing Leads S*CK!!!

33 Marketing Says We Send Qualified Leads To Sales & They Fall into a Black Hole

34 10 More Min/Week = $57,000 Additional Revenue Per Year Source: IDC Sales Enablement Research

35 Better Aligned 5.4% Faster Growth Year-to-Year Basis Than Competition Source: MarketingProfs

36 Close More Business 38% Better at Closing than Non-Aligned Competition Source: MarketingProfs

37 Less Customer Churn 36% Less Customer Churn Than Competition Source: MarketingProfs

38 Sales & Marketing View the World Differently

39 Marketing Looks for Mr. Right

40 Sales Wants Mr. RightNOW

41 When There isn t a Common Profile You End Up With

42 Get Them Talking

43 Jointly Define a Sales-Ready Lead

44 Develop Sales Tools Specific to Buying Cycle

45 Have a Formal Lead Management System Buying Cycle New Lead Registered Lead Lead Nurturing Phone Ready Lead TeleQualify Leads Sales-Validate Lead Demo/Meet/Proposal Enter Sales Forecast Closed Deals Hand Off to Sales

46 Develop a Customer Retention Program

47 Post Mortem On Lost Business

48 Lost Customer Reactivation Program

49 Everyone is In SALES

50 Don t Stifle Your Employees

51 Your Employees are Already Out There

52 Turn Employees into Brand Ambassadors

53 Measure Everything on Contribution to Revenue

54 Fine Tune

55

56 Driving Profitable Growth CXO Advisory Group

57 Driving Profitable Growth We help companies optimize business development and marketing; accelerate sales; and seize the most attractive growth opportunities.

58 CXO Advisory Group CXO Advisory Group is a strategic operations advisory and management firm comprised of proven C-level executives with both breadth and depth of experience. CXO Advisory Group Team members have achieved success in positions ranging from: President/CEO to COO, and VPs of Sales, Marketing, Corporate Development and Human Resources. Has proven success in business development and in building US sales and distribution channels

59 How Can We Help You? Business Strategy Services Audit business practices and organization Evaluate product and pricing strategies Evaluate effectiveness of sales channel Assess effectiveness of existing sales and marketing programs Market Entry Program Analyze competitive landscape Market launch strategy and plan Channel strategy and programs Establish sales channels Generate sales and manage relationships Identify and develop strategic partnerships

60 How Can We Help You? Sales Channel Management Review and revise sales channel strategies Channel partner identification, prospecting and recruitment Eliminate channel conflict Channel contract development and negotiation Interim Management Resources Interim CEO, COO, CMO, CSO Interim VP of Sales and Marketing Consultant on staff Launch team coaches

61 How Can We Help You? Venture Advisory Services Fine tune operations, business strategy and market entry Assist with due diligence Strategic business assessment of portfolio companies

62 Contact Information: Stephen Davis Interim COO/VP Sales & Marketing Business Consultant Sales Channel and Business Development Expert Author & Speaker Partnering With Clients to Drive Sustainable Profitable Growth Phone: (508) Website: Linkedin: Twitter: twitter.com/stephendaviscxo