Target Market Initiative
A Target Market Initiative (TMI) is a deliberate and planned effort to connect with a specific group of potential customers. It's not just waiting for things to happen; it's a proactive strategy aimed at understanding and meeting the needs of a particular audience.
In our approach to TMIs, we implement well-organized activities and strategies with a clear goal in mind—making a mark and achieving success in a chosen market. We measure this success by looking at the number, quality, and cost-effectiveness of leads generated. This is done using a combination of tools and automated processes, all within a defined timeframe.
When partnering with our clients, we follow three key stages in planning and executing Target Market Initiatives.
Step 1: Define Your Target Market and Goals
Clearly outline your target market and establish measurable goals for your initiative. Whether it's reaching a specific audience or achieving conversion targets, a well-defined strategy sets the foundation for success.
Defining the Ideal Client Profile
Utilize advanced tools such as buying intent indicators, growth metrics, hiring trends, funding insights, and other sales intelligence. Isolate the best segment based on advanced sales intelligence to pinpoint the most promising audience..
Describing Buying Personas
Develop detailed buying personas, considering seniority, titles, roles, and tenure. Gain insights into the individuals who will engage with your product or service.
Identifying Pains & Gains
Articulate potential pains and gains relevant to their roles. Showcase how your product/service can effectively address their needs.
Aligning With Your Processes
We assess your readiness to invest time in executing the outbound motion. Jointly evaluate your willingness to engage across various channels like email, LinkedIn, and phone calls. Decide on how we split responsibilities.
Defining Lead Qualification Criteria
Establish clear lead qualification criteria and outline the seamless handoff between Sales Development and Account Management.
Setting SMART Goals
Set Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals for the initiative, providing clear benchmarksand a structured framework for measuring progress and success.
Step 2: Set Up and Configure the Outbound Motion
Implement a tailored outbound motion that aligns with your goals. From crafting compelling messages to selecting the right channels, configuring this motion ensures your approach is not only effective but resonates with your audience.
Configure Email Infrastructure
Establish a scalable and secure cold-mailing process by configuring the email infrastructure. This involves: reviewing and configuring DNS records, adding and warming up additional email accounts and domains if necessary, configuring additional SMTP services as required for optimal performance.
Build Targeted Lists
Create lists of accounts aligning with the Ideal Customer Profile (ICP) and compile contacts matching buying personas. Automate the search process for efficiency.
Set Up Multichannel Campaigns
Create multichannel outbound campaigns tailored to microsegmented target markets. Personalize these campaigns using standard and custom variables, or AI if deemed more appropriate.
Connect contacts to sequences to automatically replenish lists when new companies or contacts are identified. Ensure a continuous and dynamic outreach approach. Automatically add new contacts to sequences.
Train Teams and Communicate Goals
Empower Sales Development Representatives and Account Managers through comprehensive training on the established process. Clearly communicate goals, success metrics, and illuminate the path forward.
Define and Automate GDPR Compliance Plays
Establish and automate plays to ensure GDPR compliance throughout the outbound motion. Streamline processes for data protection and privacy. Automate processes for seamless adherence to data protection regulations.
Step 3: Execute the TMI and Measure Against Goals
Bring your strategy to life by executing the Target Market Initiative (TMI). As you launch, continually measure your progress against the established goals. This iterative process allows for adjustments, ensuring your efforts remain finely tuned for optimal results.
Calendars Aligned for Prospecting
Establish an organized rhythm on salespeople's calendars, blocking distraction-free intervals to ensure 100% focus on prospecting goals.
Clear Goals and Task Completion
Execute with precision by setting clear goals for new contacts, emails, phone calls, and booked meetings. Ensure all tasks are completed by the end of the week, leaving no loose ends.
Optimizing Messaging and Continuous Improvement
Review reply rates to refine messaging continually. Calibrate and test personas, accounts, and value propositions, finding the right balance between relevancy, personalization, and automation.
Conversation Intelligence and Performance Coaching
Establish and execute a process to assess sales calls using conversation intelligence. Draw insights and coach salespeople to enhance their performance continuously.
Lead Quality Monitoring
Monitor lead quality against qualification criteria, tracking their progress through the sales funnel. Utilize feedback from Account Executives to continually enhance the process.
Structured Work Sprints
Encourage every salesperson to work in short, focused bursts (sprints) with well-defined goals, enhancing productivity and efficiency.