Ready, Aim, Fire...Oops...Where's The Target?

The Tale of an Online Entrepreneur

A few weeks ago, an online entrepreneur, let's call him Joe, asked me to review his direct sales presentation. Joe's product and service were top-notch, promising excellent results for any business advertising online. His potential customer was a furniture manufacturing company with a small chain of outlet stores, a perfect candidate for Joe's offer.

Joe's sales package was extensive. In the physical world, it would have required a hand truck for delivery! It included a three-page cover letter, four separate attachments, and a CD presentation for follow-up.

The Problem with Joe's Approach

I commended Joe for the effort he put into his presentation. However, I also pointed out that it was overwhelming and lacked a compelling reason for the recipient to continue reading.

Let's imagine for a moment that I am Mr. Jones, the potential customer. Here are some questions that Joe's presentation failed to address:

• What are my needs?
• Does Joe understand my industry?
• What problems am I facing, and how can Joe solve them?
• How much does the average household spend on furnishings annually? (In the US, it's about $1,000)
• How can Joe help me capture a share of those dollars?
• How has the economy affected my business?
• What sets my business apart from my competitors?
• How important are brand names to my customers?
• What are my specialty areas?
• Who is my target market and why?
• Why do my customers keep coming back to my stores?
• What are some of the key points that Joe might use to target me?
• What is my business terminology?

The Importance of a Targeted Approach

I suggested two websites to Joe that could help him develop a more targeted approach to Mr. Jones: Furniture Info and Furniture Statistics.

The key takeaway for Joe was the importance of doing his homework. Mr. Jones wouldn't be interested in Joe's product unless it could meet his needs. To understand those needs, Joe needed to research his target market.

Joe's presentation, which likely took him a significant amount of time to prepare, was a classic case of overkill. The two websites I suggested could have provided Joe with the information he needed to prepare an effective presentation in a fraction of the time.

I also recommended two free research tools that I use to study markets, trends, and individual sites: Copernic and Alexa.

Conclusion: Ready, Aim, Fire!

In conclusion, understanding your target market is crucial for business success. It allows you to tailor your sales strategy to meet the specific needs of your potential customers. So, ready, aim, and get ready to fire!