Who hasn’t heard of the 80/20 principle, the commonly cited statistic which tells us that most of us get 80% of our business from 20% of our customers?
Using a glass is half empty mentality this is somewhat depressing. Using a glass is half (or in this case a fifth) full sales and marketing mentality, this statistic presents phenomenal opportunity. Think about it. When done right, targeted lead generation marketing enables companies to consistently deliver relevant information to target markets, creating positive impressions, warm leads, inbound calls and email traffic. What better way to do it right than to target prospects with top 20% potential?
Know your target audience. Know their demographics. Know their pain points. Take a good, hard look at attributes that your top 20% have in common, profile companies with similar attributes, and refine your prospect list to ensure you go after the best of the best.
Start by looking at your existing book of business. Identify traits your best customers (the twenty-percenters) have in common, then,
go after businesses with similar profiles. Not only that, streamline your targets. This is particularly necessary if you offer a product or service that is applicable across a broad span of industries: Ask yourself, “Is there a vertical market we should be targeting? What ancillary business can we get into that we can leverage knowledge? What are the attributes that create high speed/ low drag?”
Creating the perfect targeted list does not happen overnight and it is, in some respects, a never-ending process. When it comes to turning lists into leads, “one and done” is not an option. As you acquire new names that fit the profile of your ideal customer, whether via sales calls, inbound marketing, trade shows or referrals, add them to your list. After each outbound campaign, adjust it based on the feedback you receive.
This leads us to tracking, analyzing reporting (which is another subject in and of itself and will be addressed at length in the near future) but is a critical aspect of making sure your efforts and your list are on target.
For more information on targeted lead generation marketing or creating an effective drip marketing campaign, read our articles: 8 Ways to Create an Effective Lead Generation Campaign, and SIX Proven Steps to a Push/Pull Drip Marketing Program That Works.