Finding your target market

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Many start-ups have great ideas but struggle when it comes time to bring the product to market and have difficulty in selecting a market to focus on. Defining your optimal target market and identifying the ideal prospect will help you streamline the effectiveness of your marketing, shorten the sales cycle and close more business.
In this program we’ll cover:

• Comparing mass marketing to target marketing
• How segmentation can improve your market position
• Practical ideas to segment and prioritize market opportunities
• Developing detailed customer profiles that will improve sales
• Learn the stages of the customer buying process
• How incorporate target marketing into your overall strategy

Stephen N. Davis, Principal and Founder of The CXO Advisory Group (http://www.cxoadvisorygroup.com/about-us/Stephen-Davis.htm), advises businesses on how to optimize and improve operations, accelerate sales and profits, and seize the most attractive growth opportunities. Steve has worked with companies in North America, Europe and Asia to assist them in establishing US market operations, strategic alliances, joint ventures, business development and sales management. He has also assisted clients with due diligence and preparation for venture financing.

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Finding your target market

  1. Stephen N. Davis“Partnering With Clients to DriveSustainable Profitable Growth”FINDING YOURTARGET MARKET
  2. 2000 – 2013 ©CXO Advisory GroupStart-ups Fail“BusinessModels thatDon’t Work”
  3. 2000 – 2013 ©CXO Advisory Group“From aLack ofCustomers”Start-ups Fail
  4. 2000 – 2013 ©CXO Advisory GroupIf You Get on theWRONG TrainEvery Stop is WRONG
  5. 2000 – 2013 ©CXO Advisory Group“The most important strategic decisionis targeting—nail this and everythingelse falls into place.” Phil Kotler,Northwestern University
  6. 2000 – 2013 ©CXO Advisory GroupStart-ups Wait Too Lateto Find Customers
  7. 2000 – 2013 ©CXO Advisory GroupYou are NOTThe Customer
  8. 2000 – 2013 ©CXO Advisory GroupDon’t Confuse theBuyer With the User
  9. 2000 – 2013 ©CXO Advisory GroupDon’t Confuse the BuyerWith the Sales Channel
  10. 2000 – 2013 ©CXO Advisory GroupThat is Why Start-ups Fail2000 - 2013 ©CXO Advisory GroupAt Finding Their Market
  11. 2000 – 2013 ©CXO Advisory GroupFocus on Customers& Markets From Day 1
  12. 2000 – 2013 ©CXO Advisory GroupGet Out and Talk toPotential Customers
  13. 2000 – 2013 ©CXO Advisory GroupWho Should YouSell To?
  14. 2000 – 2013 ©CXO Advisory GroupDon’t Focus on ALLPotential Buyers
  15. 2000 – 2013 ©CXO Advisory GroupEvaluating SegmentAttractiveness
  16. 2000 – 2013 ©CXO Advisory GroupSegment Size &Growth
  17. 2000 – 2013 ©CXO Advisory GroupStructuralAttractiveness Level of Competition Substitute Products Power of Buyers/Suppliers Ease of Channel Entry Company Resources & Objectives Customer Acquisition Costs
  18. 2000 – 2013 ©CXO Advisory Group
  19. 2000 – 2013 ©CXO Advisory GroupMap theBuyer’s Profile
  20. 2000 – 2013 ©CXO Advisory GroupWhat’s TheBuyer’s Journey?
  21. 2000 – 2013 ©CXO Advisory GroupWhat is theBuyer’s PAIN?
  22. 2000 – 2013 ©CXO Advisory GroupWhat Do TheyCare About?ValueConsumer BusinessHealthStatusEnvironmentalFamilyFinanceConvenience/Time SaverUsabilityLower RiskSaving MoneyProductivityCustomizationCustomer EngagementMarket PenetrationCompetitive AdvantageIncreased Sales
  23. 2000 – 2013 ©CXO Advisory GroupHow Much Do TheyValue Various Features?
  24. 2000 – 2013 ©CXO Advisory GroupHow Do They Value YourCompetitive Differentiation?
  25. 2000 – 2013 ©CXO Advisory GroupWhere Do YouFind Them?
  26. 2000 – 2013 ©CXO Advisory GroupWho or WhatInfluences Them?
  27. 2000 – 2013 ©CXO Advisory GroupHow Do They Want toEngage and Buy?
  28. 2000 – 2013 ©CXO Advisory GroupWho is Involved in thePurchase Decision?
  29. 2000 – 2013 ©CXO Advisory GroupBuyer’s Cycleis the Key
  30. 2000 – 2013 ©CXO Advisory GroupAlign Marketing& Sales
  31. 2000 – 2013 ©CXO Advisory Group
  32. 2000 – 2013 ©CXO Advisory Group“YourMarketing LeadsS*CK!!!”Sales Says
  33. 2000 – 2013 ©CXO Advisory Group“We SendQualified LeadsTo Sales &They Fall into aBlack Hole”Marketing Says
  34. 2000 – 2013 ©CXO Advisory Group= $57,000Source: IDC Sales Enablement ResearchAdditional Revenue Per Year10 More Min/Week
  35. 2000 – 2013 ©CXO Advisory GroupSource: MarketingProfs5.4%Faster Growth Year-to-Year BasisThan CompetitionBetter Aligned
  36. 2000 – 2013 ©CXO Advisory GroupSource: MarketingProfs38%Better at Closing thanNon-Aligned CompetitionClose More Business
  37. 2000 – 2013 ©CXO Advisory GroupSource: MarketingProfs36%Less Customer ChurnThan CompetitionLess Customer Churn
  38. 2000 – 2013 ©CXO Advisory GroupSales & Marketing Viewthe World Differently
  39. 2000 – 2013 ©CXO Advisory GroupMarketing Looks forMr. Right
  40. 2000 – 2013 ©CXO Advisory GroupSales WantsMr. RightNOW
  41. 2000 – 2013 ©CXO Advisory GroupYou End Up WithWhen There isn’t aCommon Profile
  42. 2000 – 2013 ©CXO Advisory GroupGet Them Talking
  43. 2000 – 2013 ©CXO Advisory GroupJointly Define a“Sales-Ready Lead”
  44. 2000 – 2013 ©CXO Advisory GroupDevelop Sales ToolsSpecific to Buying Cycle
  45. 2000 – 2013 ©CXO Advisory GroupNew LeadRegistered LeadPhone Ready LeadTeleQualify LeadsSales-Validate LeadDemo/Meet/ProposalEnter Sales ForecastClosed DealsHand Offto SalesBuyingCycleLead NurturingHave a Formal LeadManagement System
  46. 2000 – 2013 ©CXO Advisory GroupDevelop a CustomerRetention Program
  47. 2000 – 2013 ©CXO Advisory GroupPost MortemOn Lost Business
  48. 2000 – 2013 ©CXO Advisory GroupLost CustomerReactivation Program
  49. 2000 – 2013 ©CXO Advisory GroupEveryone isIn SALES
  50. 2000 – 2013 ©CXO Advisory GroupDon’t Stifle YourEmployees
  51. 2000 – 2013 ©CXO Advisory GroupYour Employees areAlready Out There
  52. 2000 – 2013 ©CXO Advisory GroupTurn Employees intoBrand Ambassadors
  53. 2000 – 2013 ©CXO Advisory GroupMeasure Everything onContribution to Revenue
  54. 2000 – 2013 ©CXO Advisory GroupFine Tune
  55. 2000 – 2013 ©CXO Advisory Group
  56. 2000 - 2012 © CXO Advisory GroupDriving Profitable Growth
  57. 2000 – 2013 ©CXO Advisory GroupWe help companies optimize businessdevelopment and marketing; acceleratesales; and seize the most attractivegrowth opportunities.DrivingProfitable Growth
  58. 2000 – 2013 ©CXO Advisory Group CXO Advisory Group is a strategic operations advisoryand management firm comprised of proven C-levelexecutives with both breadth and depth of experience. CXO Advisory Group Team members have achievedsuccess in positions ranging from: President/CEO toCOO, and VPs of Sales, Marketing, CorporateDevelopment and Human Resources. Has proven success in business development and inbuilding US sales and distribution channelsCXO Advisory Group
  59. 2000 – 2013 ©CXO Advisory GroupBusiness Strategy Services• Audit business practices and organization• Evaluate product and pricing strategies• Evaluate effectiveness of sales channel• Assess effectiveness of existing sales and marketingprogramsMarket Entry Program• Analyze competitive landscape• Market launch strategy and plan• Channel strategy and programs• Establish sales channels• Generate sales and manage relationships• Identify and develop strategic partnershipsHow Can We Help You?
  60. 2000 – 2013 ©CXO Advisory GroupSales Channel Management• Review and revise sales channel strategies• Channel partner identification, prospecting and recruitment• Eliminate channel conflict• Channel contract development and negotiationInterim Management Resources• Interim CEO, COO, CMO, CSO• Interim VP of Sales and Marketing• Consultant on staff• Launch team coachesHow Can We Help You?
  61. 2000 – 2013 ©CXO Advisory GroupVenture Advisory Services• Fine tune operations, business strategy and market entry• Assist with due diligence• Strategic business assessment of portfolio companiesHow Can We Help You?
  62. Stephen DavisInterim COO/VP Sales & Marketing |Business Consultant | Sales Channel andBusiness Development Expert | Author &SpeakerContact Information:“Partnering With Clients to DriveSustainable Profitable Growth”Phone: (508) 528-7571Email: sdavis@cxoadvisorygroup.comWebsite: www.cxoadvisorygroup.comLinkedin: www.linkedin.com/in/stephendavisTwitter: twitter.com/stephendaviscxo

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