With 2010 well underway your sales teams are undoubtedly working hard to target and pursue the right kinds of leads, or are they? Too many companies don’t spend the necessary time determining and then profiling their ideal client. Often they look only at one dimensional elements such as geography or vertical and then attempt to pursue every prospect in the segment.
The first step to experiencing the benefits of segmentation is to create a “sweet spot” matrix specific to your company’s ideal target accounts. Begin by establishing the prospect characteristics important to your company. These are the things that enable you to provide the most client value and deliver your services most successfully, examples include revenue, industry, company size, number of locations, installed technology, etc.
List these elements down the left side of a chart and across the top create three columns: Best Fit, Average Fit, Weak Fit. Now fill in the chart for each variable that you listed down the left. We show an example in our webcast, Building a Pipeline That Never Leaks, slides 9 and 10. You can also download our Sweet Spot template. With your “sweet spot” matrix complete you can now tier your targets into best, good, and worst fit categories.
By investing a modest effort in a basic segmentation process you can improve sales and marketing’s focus on the right opportunities. This can dramatically increase the likelihood for sales success and reduce the time and money wasted chasing prospects that don’t fit your ideal profile.