Sunday, March 26, 2006

Target Market Narrows the Focus And Widens the Opportunities

Probably the most jarring part of the Certified Networker training course is having to establish a target market. Most students just hate doing so. They feel that they are limiting their opportunities by narrowing their focus to one industry or one area. For me it is so interesting to watch the transformation that takes place when a business person, finally understands the benefit. When that lightbulb goes on during class (or months afterward!), I jokingly get out the tube of sunscreen, because the light is so bright that I need to protect my skin!

Greg Peters, Cyber Data Solutions, is focusing on the non-profit sector for the website development and maintenance he provides. He shared that usually at Chamber events he introduces himself by saying that he develops websites. No one has ever come up to him asking him how he might work with them. Recently his introduction included the part about focusing on non-profits. At that event three people came up and asked for help.

Dave Achen, Brennen Financial Group, looked at his client base and found that during his 33 years as a financial planner, he had become a "master of ones." He realized that in having such a scattered approach, he was not an expert in any area for his clients. Together we reviewed his customers. What he became aware of was that he had a large Service Master franchise as a client. Bingo! The sunburn light came on. Dave realized that as he becomes more connected to that client, he will know what the client needs. He'll also know what resources to bring to the table, and who else to introduce to this client. In knowing the needs of this client, Dave probably is getting an education of what other Service Master owners need. He is becoming the expert. Now his client is asking Dave for financial help without Dave having to even broach the subject. Targeting one very narrow market is helping Dave to be more successful, too.

If you were to choose a market to target, how would you describe it?

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