Like a poor marksman, you keep missing the target.
—Captain James T. Kirk
Target Your Best Prospects
Targeting is one of the most misunderstood aspects of professional services marketing. Many professionals are under the illusion that diversification is the means to faster growth and profitability.
“Anyone can benefit from our service” may be true, but if you begin offering your services to everyone, you'll likely experience slower growth and less profit—a point supported by our research into professional services firms.
High-growth firms are three times more likely to have a well-defined, well-understood target market.1 In addition, as we mentioned in Chapter 1, the practice of researching your target audience results in faster growth and higher profitability. It clearly pays to understand your target audience.
Two Types of Research
Effective targeting starts with research. Some of this research requires looking into your own records to understand what ...