I Advice
#1 in Business Subscribe Email Print

You are here: Home > Business > Marketing > Target Marketing: The Bell Curve

Tags

  • curve
  • wants
  • essentials ensuring
  • first placeyouve
  • itthis means

  • Links

  • Need To Start An Extra Income Stream
  • Sweet Valentine's Day Gift Ideas
  • Choosing a Hot Keyword: Advice for Aspiring Public Speakers
  • I Advice - Target Marketing: The Bell Curve

    Case Study: The Little Staffing Firm That Could
    According to 2005 data by the American Staffing Association, the staffing industry has grown at a rate of about 8 percent per year for the last several years. Keith Jacob's Missouri-based staffing firm, St. Louis Staffing, leads this trend: His 11-year-old firm of 14 full-time employees and several hundred part-time employees has grown about 20 percent each year since 2004. This in an industry that the U.S. Bureau of Labor Statistics predicts will create more new jobs than any other industry through 2014.Clearly, Jacob knows a good thing when he s
    part you've been waiting for...9th grade math relived.) Simply stated, the bell curve is a statistical model that shows that 80% of a given sample of prospects will have the same wants and needs as everyone else in the sample.

    For example, if your company services air conditioners, you might find that 80% of the market values both quick service and guaranteed appointment times over price and warranty of service. Now, there are some people who just want the lowest price. And there are others who insist that the warranty be excellent. But 80% of the people just want somebody there to

    Make Success Your Priority
    Overwhelm, distractions and the inability to say NO keep many people from achieving their potential. Too many opportunities paralyzes your ability to make the right decisions; Email prevents focus. Guilt and 'shoulds' keep us busy with activities that fill our days, but do not get us closer to success!We are not machines, so these things will happen. The key is to prioritize what you will allow to use your time. What is most important to you?We read stories in Oprah's magazine and see on TV all these women who start multi-million dolla
    Finally, Something You Learned In Math Class Makes Sense In Real Life.

    Okay, here's the day you've been waiting for since 9th grade: today's the day you're going to find out what some of that funky stuff you learned in math class has to do with anything. Believe it or not, there is a mathematical model - the bell curve - that explains how you should target your market. But first, we need to define some terms and dispel some traditional sales and marketing myths.

    Target marketing means a seller identifies market segments, selects one or more of them, and then develops products and marketing messages tailored to each. It's a great concept, but most businesses don't practice it - despite what they say. The reason is simple: most products and services are not developed with the wants and needs of the customer in mind. Instead of finding out what a market wants, most businesses first develop a product and then try to figure out how to sell it.

    This means that their marketing and sales efforts are usually feature oriented. They say something like "Look at all the great widgets and whatzits on our doohickie." I call this marketing technique "Trying To Be All Things To All People." In other words, "Hey world, here's our crap...come buy it whether you need it or not."

    Now let's look at this approach in sales situations. Traditional sales books and trainers preach the importance of developing the skill of asking questions. When you get in front of a prospect, ask him detailed questions about his wants and needs then try to slam him with a pitch that matches his needs list. There's just one small problem with this approach: if you haven't already determined what those needs are, then the prospect won't even know that you can help him and you'll never get the appointment in the first place.

    You've heard the phrase "Sell the Appointment." You have to sell the appointment when you use traditional sales techniques because nobody ever wants to see you...because they don't perceive that you have any solutions to any problems they have. You are a nuisance. You are the person that gives salespeople a bad name.

    Fortunately, I'm not talking about you specifically. I'm only talking about the other 95% that still use those antiquated methods. The better way is to sell to the bell curve instead of individuals. (Here's the part you've been waiting for...9th grade math relived.) Simply stated, the bell curve is a statistical model that shows that 80% of a given sample of prospects will have the same wants and needs as everyone else in the sample.

    For example, if your company services air conditioners, you might find that 80% of the market values both quick service and guaranteed appointment times over price and warranty of service. Now, there are some people who just want the lowest price. And there are others who insist that the warranty be excellent. But 80% of the people just want somebody there to

    Essentials Ensuring Success In Change
    There are eight essentials ensuring success in change. They are about changing behavior, attitudes and personal skills - the most challenging and difficult kinds of change to make, but also the most effective and rewarding. We're not dealing with the act of acquiring something – billions of dollars worth of software,exercise equipment, books, tools, and processes are gathering dust because the people that bought them confused hope with results. They did not follow through with the eight essentials for change – the goals, actions, persistence and dete
    roducts and marketing messages tailored to each. It's a great concept, but most businesses don't practice it - despite what they say. The reason is simple: most products and services are not developed with the wants and needs of the customer in mind. Instead of finding out what a market wants, most businesses first develop a product and then try to figure out how to sell it.

    This means that their marketing and sales efforts are usually feature oriented. They say something like "Look at all the great widgets and whatzits on our doohickie." I call this marketing technique "Trying To Be All Things To All People." In other words, "Hey world, here's our crap...come buy it whether you need it or not."

    Now let's look at this approach in sales situations. Traditional sales books and trainers preach the importance of developing the skill of asking questions. When you get in front of a prospect, ask him detailed questions about his wants and needs then try to slam him with a pitch that matches his needs list. There's just one small problem with this approach: if you haven't already determined what those needs are, then the prospect won't even know that you can help him and you'll never get the appointment in the first place.

    You've heard the phrase "Sell the Appointment." You have to sell the appointment when you use traditional sales techniques because nobody ever wants to see you...because they don't perceive that you have any solutions to any problems they have. You are a nuisance. You are the person that gives salespeople a bad name.

    Fortunately, I'm not talking about you specifically. I'm only talking about the other 95% that still use those antiquated methods. The better way is to sell to the bell curve instead of individuals. (Here's the part you've been waiting for...9th grade math relived.) Simply stated, the bell curve is a statistical model that shows that 80% of a given sample of prospects will have the same wants and needs as everyone else in the sample.

    For example, if your company services air conditioners, you might find that 80% of the market values both quick service and guaranteed appointment times over price and warranty of service. Now, there are some people who just want the lowest price. And there are others who insist that the warranty be excellent. But 80% of the people just want somebody there to

    Business - What's Your Vision?
    Do you have an idea or vision for the future? Does your idea fire you up and excite you? I am not talking about an ordinary level of excitement, I am talking about burning passion to see your idea turn into reality. Do you believe in your idea? More importantly, do you believe in yourself? I am talking about serious faith in your idea and your ability to turn it into reality. If you don’t, you probably won’t.Someone once said: “If you can think it, you can achieve it” I would add to that state
    All Things To All People." In other words, "Hey world, here's our crap...come buy it whether you need it or not."

    Now let's look at this approach in sales situations. Traditional sales books and trainers preach the importance of developing the skill of asking questions. When you get in front of a prospect, ask him detailed questions about his wants and needs then try to slam him with a pitch that matches his needs list. There's just one small problem with this approach: if you haven't already determined what those needs are, then the prospect won't even know that you can help him and you'll never get the appointment in the first place.

    You've heard the phrase "Sell the Appointment." You have to sell the appointment when you use traditional sales techniques because nobody ever wants to see you...because they don't perceive that you have any solutions to any problems they have. You are a nuisance. You are the person that gives salespeople a bad name.

    Fortunately, I'm not talking about you specifically. I'm only talking about the other 95% that still use those antiquated methods. The better way is to sell to the bell curve instead of individuals. (Here's the part you've been waiting for...9th grade math relived.) Simply stated, the bell curve is a statistical model that shows that 80% of a given sample of prospects will have the same wants and needs as everyone else in the sample.

    For example, if your company services air conditioners, you might find that 80% of the market values both quick service and guaranteed appointment times over price and warranty of service. Now, there are some people who just want the lowest price. And there are others who insist that the warranty be excellent. But 80% of the people just want somebody there to

    Why Do We Call These People Black Belts?
    Many are surprised that Six Sigma refers to their trained experts as “Belts.” There are Green Belts and Black Belts in Six Sigma, referring to a level of training they have achieved. The term Black Belt is not an empty buzzword nor is it a mockery of organized martial arts. Comparing a Six Sigma Black Belt and Martial Arts Black Belt is a revealing exercise.Just like in martial arts, to obtain a Black Belt in Six Sigma requires training that teaches skills and discipline. A Black Belt in both martial arts and Six Sigma is a designation that is no
    d you'll never get the appointment in the first place.

    You've heard the phrase "Sell the Appointment." You have to sell the appointment when you use traditional sales techniques because nobody ever wants to see you...because they don't perceive that you have any solutions to any problems they have. You are a nuisance. You are the person that gives salespeople a bad name.

    Fortunately, I'm not talking about you specifically. I'm only talking about the other 95% that still use those antiquated methods. The better way is to sell to the bell curve instead of individuals. (Here's the part you've been waiting for...9th grade math relived.) Simply stated, the bell curve is a statistical model that shows that 80% of a given sample of prospects will have the same wants and needs as everyone else in the sample.

    For example, if your company services air conditioners, you might find that 80% of the market values both quick service and guaranteed appointment times over price and warranty of service. Now, there are some people who just want the lowest price. And there are others who insist that the warranty be excellent. But 80% of the people just want somebody there to

    The Rising Demand For Easy-Care Clothing
    Today’s world is a busy world. Every one is busy with something or the other. Lifestyles of people all over the world are becoming more and more active. In this frenzied world, people are looking for things that are as easy to use and maintain as possible. The same applies to clothing. Consumers desire ‘hassle-free’ or ‘easy-care’ clothing that would require minimum maintenance. The demand for such easy-care clothing is growing. Today’s consumer wants clothes that would perform multiple uses, that is be used at work, at parties and also for after-work ac
    part you've been waiting for...9th grade math relived.) Simply stated, the bell curve is a statistical model that shows that 80% of a given sample of prospects will have the same wants and needs as everyone else in the sample.

    For example, if your company services air conditioners, you might find that 80% of the market values both quick service and guaranteed appointment times over price and warranty of service. Now, there are some people who just want the lowest price. And there are others who insist that the warranty be excellent. But 80% of the people just want somebody there to fix their #!&%# air conditioner right now!

    How do you find out what's most important to your prospects? Do this: informally poll your staff to find out what they think is most important. Then informally poll about 10 customers to find out what they think is most important. When you have a list - say the top 8 most important things - put it on a piece of paper and poll between 40 and 60 current customers and 40 to 60 prospective customers. Ask them to rank the importance of the items, 1 thru 8.

    Tabulate the results by adding up the scores. You will find that the responses will invariably form a bell curve. One or two out of the eight will be far and away the most important; one or two will be of almost no importance. The rest will be somewhere in the middle. Congratulations! You just made a bell curve and validated everything your 9th grade math teacher ever taught you.

    Half of you will be surprised at the results. Half of you will get the exact results you expected. The problem is you won't know which half you're in until you conduct the survey. Now comes the important part: what to do once you have the results. We call it Developing Your Distinguishing Advantage: you need to publish the results...in other words, let people know that you know what they want. Do this in your ads, letters, and various sales efforts. Once the market you have targeted sees that you have the solutions to their problems, they will flock to you as the obvious choice to do business with.

    HTTP = HTML link (for blogs, profiles,phorums):
    <a href="http://www.willuadd.com/article/29326/willuadd-Target-Marketing-The-Bell-Curve.html">Target Marketing: The Bell Curve</a>

    BB link (for phorums):
    [url=http://www.willuadd.com/article/29326/willuadd-Target-Marketing-The-Bell-Curve.html]Target Marketing: The Bell Curve[/url]

    Related Articles:

    Fat Day

    How to Use Event Marketing to Help Your Business

    Get Rid of Your Lead Generation Problems Once and for All

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com