Target Marketing: The Bell Curve

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 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.

Rich Harshaw is the founder of the Monopolize Your Marketplace system and CEO of Y2Marketing Business Marketing Strategies

---

Maximum Marketing - Minimum Budget

Two years ago I started my small Virtual Assistant business... Read More

Writing Marketing Copy That Sells

When your prospects see your marketing materials, your brochure, your... Read More

Tradeshow Booth Cures - Knick-Knack Knockouts

Okay, we were kidding about the smoke, but not about... Read More

Copy SoapNet and Make Money

Whether you want to admit it or not, soap operas... Read More

5 Tips for Getting the Most out of Exhibiting at Trade Shows

Exhibiting at trade shows can be a cost-effective way to... Read More

When The Stars Align - Choosing the Right Entertainment

Savvy event producers follow the Golden Rule: know thy audience.... Read More

Create a Blueprint for Your Success

Having a strong foundation enables you to build a thriving,... Read More

How To Market Effectively Even If No One Understands What You Do

So how do you effectively market your product or service... Read More

Three Ways to Put Fresh Spins on Old Marketing Concepts

Are you struggling to find a new twist for... Read More

Marketing Lessons From Apples iPod

Apple Computer just announced that their earnings from the last... Read More

Three Simple Ideas That Increase Profit? FAST!

Are you spending more time trying to get new clients... Read More

The Exiler

THE EXILER (your search for true brand attributes ends here!)With... Read More

Postcards Work

What's the fastest, simplest and cheapest way to promote just... Read More

Timing and the Right Product Will Make Your Dreams Come True

Are you looking to erase your debt, buy that new... Read More

Make Your E-Mail Signature File WORK for You!

You're probably familiar with e-mail signature (or "sig") files -... Read More

Business Marketing Strategy

The term business marketing strategy might sound like it is... Read More

Marketing Yourself and Your Business to Thriving!

We all watch the commercials on TV. We hear them... Read More

Do You Know Where Your Marketing Dollars Are Going?

We all know the importance of marketing to increase sales... Read More

Directional (Not Direct) Marketing

Those who believe the web is not a direct response... Read More

Take the Test: Do Your Marketing Materials Really Grab Attention?

Today's constant bombardment of marketing messages means your materials must... Read More

Selling To Your Affiliates

While success with any internet marketing program falls on the... Read More

Mortgage Marketing - How to Write a Mortgage Marketing Sales Letter That Gets Results!

Have you ever sat down to write a sales letter... Read More

Writing Business Newsletters: Avoid the ?Me, Me, Me? Mistake

Effective customer newsletters find the right mix of promotional and... Read More

Features and Benefits Brainstorming

This is it what I use BEFORE I begin to... Read More

Knowing When To Charge More and To Charge Less

More And MoreIt was notable that when I started my... Read More

Open Doors by Building Relationships

"You can make more friends in two months by becoming... Read More

Why Your Sales Copy Should Be Written As If It Will Never Be Read At All!

What is enthusiasm?Well, consulting good ol' Mr. Webster, you could... Read More

The Most Powerful Marketing Weapon Ever Invented

It was probably first discovered out there in the caves... Read More

Do You Get Attention With Your 30-Second Introduction?

I went to a networking event the other day where... Read More

Independent Professionals: What Stands Between You and Your Artist Statement?

What Stands Between You and Writing an Artist Statement or... Read More

People Do Business with People They Like

People do business... Read More

The Use of Bar Code SMS in Mobile Marketing, Advertising, CRM

Anybody that frequents shopping malls are familiar with the bar... Read More

Unleash the Powerful Promoter Within

Dear Friend,You're ripping me off.How? You may be thinking, "We... Read More