 | A Wedding Planner And A Cardboard Factory ... | What do they have in common? | Posted on: 22/05/2013 By: Jacky Sherman |
Well, if you guessed 'presents' then you'd be wrong. They are both part of Austin Ogbata's target market. Like most small business owners who come on my workshops, Austin was of the view that his client base was so diverse he couldn't identify a target market ...
a wedding planner and a cardboard factory - what do they have in common?
Just the sort of challenge I love! So with Austin, we looked at his two best clients - the ones he could say "if only all my clients were like these." They were a Wedding Planner and a Cardboard Box Factory. He got such a surprise as they had more in common than he realised.
Decision Maker |
Managing Director |
Managing Director |
Business
Characteristics |
Family firm
5 key players + 10 staff
Leicestershire based
Can afford to pay
Expanding rapidly |
Family firm
2 brothers + 15 staff
Northamptonshire based
Can afford to pay
Steady growth |
Need |
Contract dispute
(alleged poor service)
Protect reputation
(anti litigation) |
Contract dispute
(alleged poor product)
Defend principles
(pro litigation) |
Values |
Trust and handshake
(scant contracts)
Money oriented |
Trust and handshake
(scant contracts)
Family values |
So Austin is looking for family businesses or small commercial companies who are having a contract dispute with one of their customers or suppliers. Based in the East Midlands they have sufficient funds to pay for legal advice. They are likely to rely on trust in their business dealings and so want a solution that defends their reputation and gives them a fair and just outcome. He can also help these types of clients put in place Terms and Conditions that reduce the likelihood of this type of dispute.
Looks like a target market to me!
Now, how much easier it is for Austin to identify the type of business person who can put him in touch with such clients? Also, he can hone his messages to those referrers with facts and figures, testimonials and stories that help his referral sources to introduce him with confidence and make the prospects keen to meet Austin.
Is he likely to get more referrals than if he just said "Anyone who has a dispute in their business"?
In my workshop, Target Market - Finding your Starting Point, we examine the participants business so that they give clear and succinct information that means their referral sources make introductions that turn into real business. The last part of this is getting a clear description of their Target Market.
So would you like to find your starting point? Call me on +44 (0) 7970 638857 or click here to ping over an email because your target market is out there; you just need to identify it and communicate concisely.
Until next time ...
JACKY SHERMAN
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