05/30/2024
"A target market, according to Investopedia, is a group of people who share similar characteristics such as age, income, and lifestyle that have been identified as the most likely potential customers for a product."
A target list takes a specific segment of your CRM and is used to generate a specific list of people to whom you will focus your marketing on.
You might look at this and think, “why do we need one?” and, “isn’t this a waste of time?”
Stay with me.
Crafting a target list is a lot like crafting a battle plan. Would you go into battle without first considering why, where, what, and how you'll attack?
But it's not just about being prepared. It's about understanding why you're doing what you're doing and what impact it will have on the audience it reaches.
Wouldn't it be nice if that work had value and intention rather than hurriedly emailing your entire CRM each month a general newsletter that likely wouldn't resonate with anyone?
What if you had a smaller list but a list of clients or leads that you want to nurture? Yes, your reach is smaller than if you send an email blast to everyone you know, but consider that it's better to reach the right people.
By working backward, you can narrow down how you’d like to spend your time and gain control of how you spend it.
Once you’ve decided on who or what you would like to focus on, ask yourself these questions:
WHO - determine who your audience is and consider demographics, number of transactions completed with you, the length of time you’ve known them for, and if they add value to your goal
WHERE - which area you would like to focus on
WHY - your intention or purpose of your marketing
WHAT - content and information you will provide your audience
WHEN - the launch date of your communication or marketing campaign, the frequency, and duration
HOW - what method of communication will you utilize? Mailouts, email, handwritten notes, phone calls, drop bys?
For next month, spend some time reviewing your goals and deciding on what you would like to achieve for the second half of the year and then pull a target list to determine where there are opportunities to make steps toward completing your goal.