Three
Foot Rule vs Target Marketing
Dear
Associate,
A
research doctor (in our speech group) asked the membership
if we'd like to attend a forum she will chair over. The event
is a one-day, information-dense exploration into the mechanics
of working with Chinese research and development pharmaceutical
firms. After we adjourned, she tried the one-on-one approach.
The
members she spoke to were polite, gracious and courteous.
But they didn't display a whole lot of interest. Nevertheless,
she wasn't discouraged.
I
was heading for my car when she called my name. The next few
minutes saw me attempting to duck every question she fired
at me. She sensed my uneasiness and didn't quite understand.
She
was using the hit-or-miss marketing method. A modification
of the "Three Foot Rule." She had been led to believe
that everyone within eyesight was her prospect. That they
suddenly became her warm market.
Those
who practice this have a lot of time on their hands.
"I've
raised over $24,000 in sponsorship for this year's forum.
Would you like to come, meet new friends, maybe pick up some
new business? It only costs twenty dollars and you also get
lunch," she explained.
I
honestly didn't see any benefit from attending. Especially
after she made it sound like just another networking event.
So I decided on some verbal sparring.
"Congratulations
on your fundraising success," I answered. "Tell
me, how would I benefit from attending this event?"
"You
get to network with the who's who in San Diego's life science
industry, meet eligible women, and enjoy great food and fun,"
she added.
She
did her best to generate interest, but she didn't really answer
my question. What she assumed were benefits for me are actually
normal expectations. You'd find similar attributes present
in almost all one-day classes, workshops or seminars.
Another
critical oversight...
She
downplayed the significance of the speakers and their presentations.
It began to sound like a mix and mingle, let's trade business
cards event. I couldn't see the connection between Big Pharma
with lunch, fun and available ladies.
I
wanted to know what value I would get from attending this
forum. What I would get from listening to CEOs of pharmaceutical
firms. And given the volatility of medical research firms,
how on earth can you establish a long-term business relationship
if they closed their doors for lack of funding?
She
continued, "Anywayyou don't have to stay the whole
day if you don't want."
That
statement took the wind out of the sails. She disqualified
herself. She was only recruiting me to register a larger turnout.
I was just another number to her. Her true motives came to
light. Now my once high opinion of her has swayed.
Obviously
I was not her target market. Even if she paid me $100 to attend
this event, I wouldn't go because I couldn't see how $100
would replace the eight hours I'd lose.
Which
leads me to this point...
The
whole world is not your market. Research where your target
market likes to go, what they like to do and what publications
they like to read. Then deliver your most compelling marketing
message there.
Warm
regards,
Want
to include this article in your newsletter? You can if you
include this blurb:
Tommy Yan helps business owners and entrepreneurs make more
money through direct response marketing. He publishes Tommy's
Tease weekly e-zine to inspire people to succeed in business
and personal growth. Get your free subscription today at www.TommyYan.com. |