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How many times have you been called by telemarketers or received a postcard or letter to your company from a competitor asking you to buy from them? We get these calls and direct mail pieces at least once per week. It amazes me that these companies don't do the slightest research to see if we "qualify" as one of their prospects. They just do a general blast to all companies in a certain geographic area without looking to demographics and excluding competitors. Not taking this easy step is a huge waste of money. There are also the companies that send to prospects that they think "might" become a customer. This is also bad marketing. With all the lists available you can find prospects that have purchased exact, very similar and complementary products and services. Since this information is available why are companies trying to find the client that has never been born? In addition, don't fall into the trap of what we call the "everyone is my customer" syndrome. Many seem to think that if you send enough email or direct mail to enough people then some has to stick. While that works sometimes, it is another huge waste of money and shouldn't be counted on.
Let me give you an example: Lets say you sell scissors. Do you think it would be better to spend your money advertising in a local newspaper or take your money and advertise in a trade publication targeted to Hair Salons and Cosmetologists? What if you're a gym? Should you advertise in a newspaper wherever they can place you ad or should you insist on the sports section or women's section, etc? Targeted email lists are also available for rent enabling you to target market. Everything you do to market your company from Google AdWords to Email, from trade publications to press releases, etc. Everything should be exposed to your targeted demographic and psychographic. Another misstep is not taking your target market when creating your company website. Never create a website that looks good just to you. You're not the customer. Always create your website with your customer in mind. How will they benefit by doing business with you? What do they want to see? What are their demographic and psychographic? Are they mostly Male or Female, professional or blue collar? Are they high income? Are they the children of elderly parents looking for research about the products or services you sell before they make a buying decision? When developing your collateral you should also keep this in mind.
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