Marketing and duck hunting are very much alike. Just like business owners, duck hunters are looking for their target. So, who is your target market? Sure, if you're duck hunting, it's ducks. If you own a women's clothing store, it's women. If you're a dentist, it's people with tooth problems. But, are all ducks created alike or are all women alike? I'll admit right now that my sister's teeth and mine are not alike. I know our dentist would prefer to book an appointment with her over me.
While business owners know that not all prospects and customers are equal in terms of business potential, they all too often treat them equally in their marketing efforts. As a result, they sometimes get swallowed instead of ducks. If your "ducks" (also known as "A" Grade customers) can mostly be found close to a body of water, why put your hunters up close to buildings? There are very few, if any, ducks there. Spend the most time and effort where you have the best chance of success.
A very simple tool to help you decide how much and on whom to spend is the Marketing Pyramid. Use this method to decide how to market to heavy, medium, and light users through coupons, special offers, contests and other incentives that can help invite consumers to continue to buy.
Determine your A, B, and C targets. The "A" customers and prospects have the best profit potential and are your Target Market.
As a rule of thumb, your "A" list should make up 10 to 20 percent of your total database. These should include: Your best current active customers, your best recent past customers, recent referrals from your best customers or influencers, and any "hot" leads from the last few months.
The "B" list should make up approximately 25% of the total database. These should include: somewhat recent past customers, somewhat recent referrals who haven't purchased yet, the top targeted leads from your wish list of future customers.
The "C" list comprises the balance of targeted customers who buy only occasionally, fairly recent inquirers, and prospects that look good so far.
Now develop a contact plan designed for your ducks (the "A" list). Your contact plan for the "A" list might include 10 targeted communications. From your "A" contact plan, choose six to use with your "B" list and three to use with your "C" list.
As the year progresses, you will move prospects up and down - in and out of the Marketing Pyramid, based on the outcomes of some of your contacts and dealings with these customers.
In the long run, the goal is to get 75% of next year's sales from your "A" list, 15% from your "B" list, and 10% from your "C" list.
What's the bottom line?
You will end up with continued momentum, continued growth, and greater return on your marketing investment.
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