Sales targeting is an important part of any successful business strategy. However, in today’s competitive market, it is not enough to just put the word out and expect to catch a few customers. Instead, businesses should apply a focused and targeted approach to sales.
You and your team can use sales targeting effectively to understand your buyer base and get some new ones. It is now one of the major factors in deciding the customers to be targeted for the sale of a product.
In this article, we will explore the know-how of sales targeting, its types, the steps involved, the benefits, and the tools to get you through.
Sales targeting is a strategy businesses use to identify and focus on groups of probable customers who might be interested in their products. It aims to increase the impact of the company’s marketing campaign by targeting the most probable leads.
It involves the analysis of customer data to know their choices, preferences and buying behaviors, and other attributes. This information helps create a customer persona which, in turn, helps identify the customers who are most likely to purchase the product.
Once the customer data analysis is done, the businesses can identify the target customer and create their marketing campaign to reach and engage the specific group of customers.
Now, all companies use it to get customer profiles to some extent. Still, it mainly focuses on identifying sales prospects, devising strategies to keep them attracted and fragmenting the customer journey.
It can also be defined as a plan that emphasizes a business’s targets and outlines how to achieve them. Also, it becomes important to mention that it must be optimized occasionally.
For example, let’s say you work in a luxury car company. Your target customers might be affluent individuals interested in buying luxury cars and willing to spend a fortune on them.
So, to target these customers, you might create a campaign that includes,
- Social media campaigns target individuals in higher-income strata interested in buying luxury cars.
- Sponsorships of the luxury cars sold by your company.
- Partnerships with other luxury hotels and resort brands to showcase your product.
- Email and telemarketing campaigns to the individuals who have previously purchased your brand’s luxury cars.
Targeting such customers can increase the chances of making more sales and retaining your customers.
Generally, there are two types, namely, Outbound sales and Inbound sales. Here I will explain these two strategies in some detail.
Outbound sales can be defined as using methods like email marketing, cold calling, social selling, etc., to reach out to existing and probable customers, so much so that the salesperson directly reaches out to the customers.
It is a trivial way and has existed for a long time, but that does not mean it is outdated; it is still very effective.
Do you remember those calls you get many times a day regarding the sale of some product? Yep, that annoying call is a cold call for sales reps! Or they may even contact you through email marketing and social media platforms.
This targeted sales method aims to generate individual interest in the company’s product and its sale.
Now, Outbound sales consist of the following steps,
- Identification of probable customers.
- Lead generation.
- Closing the deal.
Inbound sales is a method businesses use that focuses on attracting, engaging, and converting the leads to potential customers through helpful, interactive, and informative content instead of trivial sales methods like cold calling, emailing, etc.
Inbound sales aim to gain trust and establish relationships with potential customers by providing them with resources and information to address their needs and pain points. As a result, inbound sales are more effective in building long-term relationships with the customer.
The main target of inbound sales is to create a tailored experience for the customers, fix their problems and understand their requirements.
In inbound sales, the target customers will come to know of your product mainly through social media, blogs, and many other online marketing materials. These generate hype in the customer, and then the customer reaches out to the company.
For example, an automobile company creates awareness and hype about their new car; they use all sorts of marketing, directly addressing who the car is for and waiting. Then boom! The probable customers start approaching the dealerships for a test drive.
Then the salesperson tries to educate the customers and act as their trusty consultants on the know-how of the car and also remove any doubts or concerns they may have in their head.
The steps involved in sales targeting
Defining your customer base
Defining your target audience or customer base is considered one of the most important steps in the sales process. You need to identify the type of customers you want to serve, and it becomes important to get it right.
For this step to be successful, you also need to know the feasibility of your product.
Once this is done, then you get to decide the buyer’s personality, including various factors like-
A location’s laws, rules and regulations also affect product sales and buying decisions. As a result, it may be possible a product might be sellable in one place and not in another.
Income is also an important factor in determining the product’s sales and people’s buying decisions. For example, the number of luxury cars sold in the USA is comparatively higher than in any African country due to a substantial difference in the income of the people.
The buyer’s lifestyle also decides the sale of a product. It depends on whether your buyer has a lavish, mediocre, or lower lifestyle.
The gender of the buyer is also essential in the sale of a product as it helps determine its unique selling point. Some products are meant for men, some for women and some for both.
Age is one of the most important factors. Age decides that the end user surely purchases the product. For example, the latest tech gadgets are more desirable amongst the young than the older generation.
Customer choices and preferences play a big role in deciding the sale of a product. If the customers of a particular location do not desire the product, it will not be sold.
Deciding the target market
To decide the target market for the sale of your product, you must keep the following factors in mind; the saturation level of the market segment and the current issues of the same category products in the market.
Once this is done, you must try to know the nerve of the customer and what the ideal customer wants from your product. This is usually done through interviews, opinions and surveys.
Analyze your present situation.
Analyzing your current situation helps you examine the risks and opportunities involved. A simple SWOT analysis or any other framework can do this. Also, an agency or a consultant can be hired to do this task.
Make sales and marketing work in harmony.
It is seen that normally there is a lot of chaos between the marketing strategy, sales and marketing efforts, and the actual sales achieved. So, there should be a smooth line of communication between the marketing and the sales teams so that they are on the same canvas.
This is important when one has to decide what constitutes a qualified lead.
There are many benefits, a few of which are mentioned here,
- Better pipeline: The sales pipeline of your company or the sales flow includes various stages, from lead generation to closing in on the final deal. Optimizing each step ensures the sales targets are met, and the sales team can form a plan.
- Higher closing sales rate: Your company can achieve a high closing sales rate through planned sales targeting by implementing a strategy based on research and keeping track of your progress to identify the areas of improvement.
- Increased chances of upselling and cross-selling: A nice sales strategy harms no one. It will help your company to rely on upselling and cross-selling opportunities. This is essential as it is more efficient to upsell than to look for new customers.
- Improved customer experience: If your company implements targeting, it will help you better understand your customer and provide personalized and curated experiences to them.
These benefits help you identify and focus on special customer segments and help your business optimize its sales efforts and achieve better results.
The Best Tool for Sales Targeting:Swordfish
Swordfish is one of the most powerful contact search engines available. It can find phone numbers, personal emails, and social profiles with the Swordfish Chrome plug-in or the Chrome extension. You can access contact data whenever you need it.
It is a sales intelligence platform that can help sales teams improve their targeting efforts. Here are some ways in which Swordfish.ai can help:
- Prospector: Swordfish.ai’s Prospector feature helps users find accurate contact information in bulk with advanced filtering and search parameters. Every email address and phone number is validated on-demand with live updates for accuracy
- File Upload: Swordfish.ai’s File Upload feature is used to enrich existing data and spreadsheets. Swordfish will automatically populate missing info with accurate and validated contact information. When only some information is available on a prospect, its reverse search feature helps to fill in the blanks
- Lead Distribution: Swordfish.ai can assist users by sharing or distributing leads around a business, automating and managing their prospect database. Additionally, it improves internal operations management and offers B2B connectors to help users employ process automation tools to reach large customer markets
- Advanced Filters: Swordfish.ai’s advanced sourcing filters can help users find their next lead by providing targeted contact data for their ideal prospects. With these filters, users can quickly and easily narrow their search and find the perfect prospects to target, saving them time and effort
- Sales Intelligence Tool: Swordfish.ai is a robust and accurate sales intelligence tool that enables B2B business users to automatically search and gather verified contact data of potential customers. It can provide users with the verified contact data of potential customers, making it easy to get authentic and accurate contact information from potential customers
Swordfish.ai can help sales teams save time and increase their earning power by providing potential customers with accurate and verified contact information.
Features of Swordfish
- Chrome extension
The Swordfish Chrome extension feature finds contact information on various sites. The tool is quite simple and when you open it on a website, it scans the profile to find the email addresses, phone numbers and other contact information.
- File upload
This feature saves time by bulk enriching customer lists. It adds names, job titles, company names, social profiles, locations, business emails, etc, to your lists.
- Deep search engine
Swordfish’s deep search engine feature allows you to find anyone based on your input data. It helps you find people through social URLs or address searches, search through name and location, email, etc.
Swordfish also has its API tool to give you the power of Swordfish data. It uses a standardized data model to provide a customer focussed and scalable data model for managing the data-related services and storage.
Swordfish offers three pricing segments which include
- Three thousand credits starter plan priced at $249/mo.
- The six thousand credits starter plus plan costs $239/mo per user.
- The Swordfish custom plan is billed according to the features the customer chooses.
You can learn more about the pricing plans of Swordfish here.
These plans of Swordfish include features like prospector access, direct dials, personal emails, free business emails, data enrichment, etc.
A proper plan can help your business outperform the others in the market. In these highly competitive times, you need tools for a successful strategy, of which Swordfish is the best.
Swordfish offers many features which are the best in the market. For example, it offers team management, file enrichment, bulk data enrichment, free business emails, dedicated CSM, etc. Swordfish also offers you a custom plan in which you can opt for the only features you want.
With all its features and simplicity, Swordfish is one of your best contact finder tools. You just need to input the data you have and with a few clicks, the information is in your hands. It’s that simple. But why take my word for it? Go to the website and try it for yourself here.