Getting the best R.O.T.I.

Do you know where the bulk of your business is coming from? Can you clearly define those clients? Do you have a good handle on who you should be targeting in on, that is if you want a maximum return on your time invested (R.O.T.I.).

Let’s define your target market from the inside-out by what you already have - your customers. Take a look at your customer base. Identify the common elements between all customers – industry, size, location, needs, demographics, etc.

There are at least three common things that you will find. They all have a need for your product or service, they have the ability to pay and they have a desire – a desire to purchase from you, which is usually based on some form of personal relationship.

Take the time to identify why you are in business - what you want most from your clients and rank them as an A, B, or C. If you want revenue or profit most from your clients, rank your highest revenue or profit clients as an “A”. The next level as a “B” and the lowest level as a “C”. This sort of ranking will identify the big hitters – the 20% that gives you 80% of the revenue or profit. These are your most important customers – you’re “A’s”. At one time they were prospects.

Now paint a picture of your 20% - your most important clients. What makes them different from the rest of your customer base, besides revenue and profit? Is it a relationship, size, need, demographics, location, market growth, competition, etc.? Identify as many elements as possible that differentiate them from the others.

Now refer to these differentiating elements as criteria. Once these criteria are identified, let’s refer to them as Absolute (A) criteria for “A” customers, as they are also our absolute (A) customers. You absolutely need them to survive. Define the absolute criteria, based on your “A” customers, as the most important criteria that a suspect must have in order to fit into this category. That criteria must be defined clearly for your “A” customers and suspects.

“Why”, you ask? Knowing this will help you in identifying where you should be spending your time prospecting in order to get the best return on your investment in time, which is by the way, limited and expensive.

Before we move on, answer the following question to yourself: Where do you spend 80% of your time – on the 20% or the 80% of your customer base? Where should you be spending your time? Where will you get the best return on your investment in time?

Target marketing and ROTI are discussed in great depth, with supportive tools to help you identify and target markets, in "Up Your Bottom Line; Featuring the ABC, 123 Sales Results System" Order the book or special combo today!