Question

Topic: Career/Training

Discussion Of Target Markets In An Interview

Posted by Anonymous on 12/22/2011 at 2:42 PM ET 250 Points
I am putting together a marketing power point that will be shared with prosective agents during the interview process. One of the aspects of our business I want to share with them is importance of establishing a well defined target market. My problem is how do I both define what a TM is for those who don't know and explain why it is important in only two or three slides?
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RESPONSES

  • Posted by michael on 12/22/2011 at 3:21 PM Accepted
    I suggest you ask THEM what a target market is. You can then talk about the importance of it...but I am guessing success depends on this knowledge. If you have to explain it....they may not be your best prospect.

    Michael
  • Posted on 12/22/2011 at 4:21 PM Accepted
    Slide 1. Certain prospects have been shown to be far more likely to purchase than others. There are variations area-to-area, but the 80/20 rule always applies: 20% of your prospects will generate 80% of your sales revenue/profit. (The other 80% of your prospects are a waste of your time.) We call the prime 20% the Target Market.

    Slide 2. To maximize your effectiveness, you need to clearly identify/define the Target Market and find out what makes them different from others. That way you will increase your chances of success on EVERY call -- and end up with a considerably higher closing ratio than the dummies who just call on every warm body.

    Slide 3 (optional). There are a number of ways to identify your Target Market. Let's look at a few common ones so you get the idea. [Examples]
  • Posted on 12/25/2011 at 5:11 PM Accepted
    HI,

    I believe, every one who comes for that profile should know what target market is..

    But, If you want them to explain why it is very important for your business and Product. You can use previous examples, Some industry facts and yes a little intro what you mentioned about 80-20....

    All the best

    Nishant Manchanda
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