If you want to start a business and set yourself up for success from the very beginning, you’ll need the right customers from the start. While many people begin with a broad audience and later narrow down that audience, that isn’t the most effective strategy. Read on below as I explain the benefits of going after your dream prospects from day one.
Finding the Right Prospects
When it comes to generating the momentum of market presence, you want to cast the widest net possible that makes sense to your niche. Then, you can be more discerning about who you’re spending time on later in the process.
However, the top producers have learned to cast a smaller net from the beginning in order to catch the bigger fish. Chet Holmes, one of the top sales producers in the country today — the guy turns bad sales around in struggling companies — said, “There are always a smaller number of best buyers rather than all buyers.”
What the hell does that mean? It just means narrow down who you’re targeting to prospects that, although smaller in number, will bring in much more revenue than all the small fish combined. Linking with these big fish will not only save you time and energy, but it can be a great way to affiliate, partner with, and otherwise make marketing and sales easier than fishing on your own.
Pick the Dream Prospects
Say you’re a real estate broker in your town. Who are you going to in order to start generating leads? Who are you targeting before you start sending out direct mail to every household in the town? Lastly, if you were famous among them, who would drive so many referrals to you that you couldn’t even handle it all?
With the big fish strategy, you’re looking for the most influential people. These people have access to the same types of prospects you want, and you’re pounding them relentlessly. They’re the ones who live in the most expensive homes in your town. You make them a must in your marketing budget.
All this to say: pick the dream prospects! It’s the most cost effective method of building your business without spending a lot of money.
These select people looking at your face in the mail once a month, every month, may not need you now, but when they do, they know like clockwork that your flyer’s coming in the mail. Commission on one expensive house sold could more than make up for the marketing budget on that strategy. When it comes to high-end real estate in that area, you’ll be at the top of those people’s minds, thanks to your relentless, subconscious marketing.
Quality over Quantity
Even when we’re talking about in-store client relations, we still want to be narrowing down what we want out of each interaction, so it’s still a mindset of quality of interaction versus number of interactions. For example, how can you get one customer to buy more than just the item they came in looking for? Or a number of more expensive items?
How can you make the first point of contact more interesting right from the first or second sentence? Or with the first thing you show them? How can you make it more attractive, more appealing, and more exciting?
Also, get clear on your business objectives. Most people are not strategic. They don’t think, ‘How many things do I want to accomplish with the buyer?’ However, it changes the whole quality of the interaction when you start thinking this way.
The more narrow and focused your business objectives, the more impact you will have right from the very beginning, and the quicker and faster you’ll grow with less effort. The biggest elements are persistence, patience, and commitment to really seeing this strategy through.
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