Posts Tagged ‘Target market’

Notes from our meeting on February 5th.

The way to effectively use of Social Media is very similar to traditional networking activities.

• Decide what we want to accomplish before we invest time and money in any activity
• One purpose might simply to stay in front of our prospects and clients so they do not forget us
• Use the social media vehicles our targets are using
• Stay within the culture of the social media we are using
• The more we focus on helping others rather than trying to sell, the more effective our efforts will be

If we have a mass market you are trying to reach, then Facebook and Twitter might be viable alternatives.

If we are looking to connect with professionals, then Linkedin might be a good choice.

Facebook has the best viral component tool and is also an easy way for non-technical types to provide visuals.

The Topic was “How to Select the ‘Right’ Target Market”

Ideas included:

• Identify prospects who have a pain that you are an expert in solving
• Be pragamatic, i.e. Who can you reach and who can you stay in contact with long enough for them to buy
• Chose your market versus deciding your market
• Chose a market that you are excited about
• Understand your prospects’ decision making process
• Keep multiple irons on the fire
• Consider the geography and size of your market
• Consider the lifetime value of a client
• Chose a target market where the prospects will hire you
• Apply the 80-20 rule

The participants included:

1. Ted Backman (Finance)  http://www.linkedin.com/in/tedbachman
2. David Bass (M&A) http://www.linkedin.com/in/davidbassrdu
3. Mark Brown (Consulting Support) http://www.linkedin.com/in/markbrownmybizpath
4. Art Burke (HR) http://www.linkedin.com/in/artburke
5. Chris Cardozo (Sales) http://www.linkedin.com/in/theultimatesalesconnection
6. Van Carpenter (Marketing) http://www.linkedin.com/in/bizdoctorvan
7. Graham Crispin (Business Broker) http://www.linkedin.com/in/grahamcrispin
8. Bill Davis (Coaching) http://www.linkedin.com/in/billdavistn
9. Jake Finkelstein (Marketing) http://www.linkedin.com/in/jakefinkelstein
10. Lori Gayle (Finance) http://www.linkedin.com/in/lorigayle
11. Tracey Gritz (Office Efficiency) http://www.linkedin.com/in/traceygritz
12. Steve Hand (Networking) http://www.linkedin.com/in/shand
13. Jerry Helms (Web) http://www.linkedin.com/in/jerryhelms
14. Whitney Hill (Web) http://www.linkedin.com/in/whitneyhill
15. Jim Joyce (Sales) http://www.linkedin.com/in/jimjoycesalespartners
16. Brian Kinahan (Strategy) http://www.linkedin.com/pub/brian-kinahan/0/3ba/185
17. Frank Lyons (HR) http://www.linkedin.com/pub/frank-lyons/0/b92/865
18. Mike Miller (Sales) http://www.linkedin.com/pub/michael-miller/3/541/299
19. Scott Pearce (Sales) http://www.linkedin.com/in/scottspearce
20. Jack Perez (Marketing) http://www.linkedin.com/in/jackaperez
21. Tim Pedersen (Marketing) http://www.linkedin.com/in/rightbraintim
22. Marieke Pieterman (Compensation) http://www.linkedin.com/in/mariekepieterman
23. Manfred Reithinger (Six Sigma) http://www.linkedin.com/in/mreithinger
24. David Rowe (Finance) http://www.linkedin.com/pub/david-rowe/3/780/249
25. Dan Scala (Coaching) http://www.linkedin.com/in/danscala
26. Jerry Seavey (Coaching) http://www.linkedin.com/pub/jerry-seavey/0/b29/900
27. Nick Trapani (HR) http://www.linkedin.com/pub/nicholas-trapani/11/789/420
28. Sue Weems (Coaching) http://www.linkedin.com/pub/sue-weems/0/790/4b1
29. Latoya Williams (Strategy) http://www.linkedin.com/in/latoyajwilliams