Michael Dell, founder of Dell Inc, recently shared a story from his early entrepreneurial days. He was sixteen and had landed a job at the local newspaper, selling subscriptions. He quickly realized that the people most likely to buy the newspaper were those who were looking for a home to buy or rent, so he set about getting data on people who had just got married; who were applying for a mortgage and contacted them.
Within a month he was the top salesperson, and made enough money on commission to buy himself a BMW. His high school teacher challenged him when he submitted his tax return as part of the math class. She was positive he was making it up – but no, this was his real income and he was making more than his teacher!
The moral of the story? Do your homework. Think of who would need and benefit from your product or service. Then look at how best to reach those individuals. When you understand your target group, know how they think and feel, then you can tailor your marketing strategies to convert them into customers.