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Whenever we talk about target marketing and chasing an ideal client it seems to be assumed that there is just one “right client profile”.
Not true.
There are usually 3 target market client profiles that I recommend, as we have a commercial requirement to balance up the odds of getting the business levels we need with the size of the market segment. To put that in really plain english we have to be chasing stuff that is worth chasing – but never losing sight of the ideal either.
I believe that most professionals – or most professional practices – should have 3 target market segments. One of them the practice should focus on with its overall marketing, and the other 2 the individual professionals within the practice define and chase themselves. It is all about balancing up finding enough bread & butter business (the stuff that puts on the table week after week) with the effort required to eventually succeed in a really tight and probably narrow niche.
In this weeks quick video we discuss the 3 target market segments, and why they all matter….and all are worth pursuing, but for different reasons.
Related: Financial Advisers Problem? Not Doing the One Thing.