Target markets are for Strategic Planning. Target market buyers are for Revenue Generation Strategy.
If your Sales, Marketing and Product launch revenue activities are still focused on markets, then you are probably not maximizing your revenues.
Ten years ago, the Sales force generated most of the company’s revenue. They would be invited into an account as part of an RFI (Request for information) request. Once in, they would focus their target account sales strategy on the key players of the buyer team; the influencers, recommenders, and decision makers. These were the first ancestors of “personas”
In the past few years, unprecedented access to online information via internet, social, and mobile has empowered the buyers to complete 50%-70% of their decision process, bypassing the need to contact a sales representative to identify a “preferred ” provider.
That has put increasing pressure on Marketing to leverage their email, website, and social marketing expertise to generate qualified leads to fuel growth. However, “target markets” is too broad, and “target account personas” are too narrow, to generate the quality and quantity of leads that the company requires.
Part of the solution for increased lead generation and shorter sales cycles is the creation and utilization of target market personas.
This Infographic is courtesy of www.singlegrain.com.
For maximum revenue growth, your company’s Sales, Marketing and Product Launch activities need to be aligned with your target market buyers and their buying process. Let Marketing Outfield help you design and implement a more effective revenue strategy that incorporates target market buyer persons, buyer purchasing process, and cost-effective lead generation tailored to your company’s needs.