One thing you’ll learn as part of the Instant Income series is to pinpoint — or home in on — those folks who might be ideally suited to buy your product or service…people who, as a group, might have a need for it or an even stronger want for it.
The fact is, the number of prospects you generate (and the rate at which you convert them into customers) will almost always be higher when your message is read, heard and seen by qualified buyers vs. the unqualified masses.
That said, the flip side is also true: No matter how good your lead generation device is, your offer is or even your product is, when your message reaches an audience that doesn’t have a need or want for it, your prospecting effort will be futile.
How can the perfect universe of buyers be found?
By knowing who your ideal prospect is and then looking at who is already selling to those people you
want as customers.
Do you cater to people with a particular desire, taste, hobby, job, pet, car, business, fashion or other preference? If so, it’s likely there are other businesses who are already selling them complementary items — luxury goods, pet care products, hobby tools and so on.
Either replicate what they are successfully doing to generate leads, rent the names of their customers, or do a joint venture with them where they endorse you and your product or service to their customers.
Let’s look at a few examples:
• A winery could rent a list of local subscribers to food and wine periodicals, then invite them to special events at the winery.
• A nutritionist could rent a list of local consumers who subscribe to fitness magazines and who buy supplements through mail order.
• Real estate agents who specialize in selling estate homes know their perfect buyer also owns an expensive car, subscribes to upscale magazines & doesn’t clean their own pool. The names of local car buyers and magazine subscribers could be easily rented. And there are dozens of pool maintenance companies to approach with a joint-venture deal.
• An advertising firm looking for new clients could read the Yellow Pages and easily determine that any business with a 1/2-page or larger is probably a great prospect because they already spend serious money on their advertising.
• A marketing consultant I once knew sent his receptionist to the service bay of the local Mercedes, Cadillac and BMW dealers to record which radio stations the car owners had their radio buttons set to. That’s how he determined which stations his client should advertise on.
• An antique store owner could band together with other area antique store owners to create a printed guide that would feature an ad for each store and a detailed map of how to find them. They could even sell advertising to restaurant owners to defray the cost of printing the maps for each antiquarian.
Where shouldn’t you look for your prospects?
Anywhere “mass media” reigns — local newspapers (unless your product or service truly appeals to “everyone”), shopping carts, billboards, flyers or business cards left door-to-door or on cars in parking lots, ad packs, card packs, ad specialty items like pens and magnets, placemat advertising, and on and on.
While there are some situations where these advertising methods are advised, they’re usually just too expensive and reach too few genuinely qualified prospects.
Just keep your eye on the ball — that is, on your ideal prospect.