Who’s Going to Buy From You?

By Bill Ringle

It’s such a basic question, but I’ve met entrepreneurs running businesses for years who struggle to answer it well.

In a way, it’s a litmus test to see whether you understand who your prospects are or not.

When you hear someone answer this question with, “Oh, I sell to people who need my widget,” or “I sell software, so anyone who has a computer is a potential buyer,” or some other kind of fluff-ball answer, you know you’ve met someone who’s in for a long haul before they put a check in the bank.

With an accurate answer, marketing and sales become much simpler.

Let’s say you run a Web 2.0 marketing firm, for example.

Your company has the skills and resources to make other companies well known on the Internet. Who’s going to buy from you?

Even though every company may need your company’s services, your efforts to reach every company out there would be lost in the vastness.

First, know your industry. Once you pick an industry to pursue, your job becomes much easier. Do you work best with financial companies? How about publishing companies? In this example, let’s chose to work with the alternative energy industry.

Next, know the companies that work in your industry that fit your model. You could work with start-ups to high growth to established companies. You’ve got to know the size and stage of company that best fits the products or services you offer.  It’s a good idea to list two dozen or so to get started.

Lastly, what’s the role of the person you need to meet? In other words, who is most likely to approve a check request for your company? Is it the VP of operations? A product line manager? The president? In this case, the VP of marketing is the person we’d most like to meet. Once you know the role in a given company, you can find out names.

Remember – know the industry, the companies, and the roles. Now that you can tell who your buyers are, you’re ready to begin communicating with these people.

So, who’s going to buy from you?

 


About the Author:

Entrepreneurs can find more resources to build their business at: www.mybusinessgym.com
Bill Ringle works with business leaders from high tech and professional service entrepreneurs in the Greater Philadelphia region and shares the strategies and tools for accelerating growth through my Business Gym with business leaders from across the United States and in 15 different countries.