What is your customer’s common criterion?
This is the first step in knowing where to invest your targeting efforts – understanding who your customers are. Start by appending to your account records basic business demographics: SIC, annual revenue, number of employees, maybe even square footage of their building, depending on what you are selling. Also include whether your contact’s location is at the headquarters of the company or a branch office/plant. With this information you will be able to build a matrix of your customers. If you’re unsure of where to start try with using SIC by Annual Revenue.
The key is to build a matrix that provides meaning to you and a place to start the discussion with your team. The conversation needs to be around who your best customers are and what makes them the best to you? You may find that your best customers are not those at either end of the spectrum, but rather the middle, and only a select group of SICs or cells. This can spark a great conversation with your sales team. You want gain insight as to why a cell is good for your products/services or why it isn’t.
You may find that some cells are just okay and other below average. You might consider these groups not to be worth the time of your field sales group, but they might be okay for an inside sales team or a different sales channel. If you get no further than this first step, you have learned a good deal.
However, with this information in hand you can take it to the next step and go out to a list broker and find out who you’re not talking to. Pull a list based on what you have defined as your core area and by your coverage area. This second matrix will provide you with a view into who you’re not talking to and where to invest your resources.
To learn more about this process and to hear other tips, listen to our Dynamics CRM Coaching session – Two Strategies for Knowing Clients & Finding Prospects Just Like Them
I look forward to your comments and questions.