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How To Get A HUGE List of Targeted Prospects

How do you make money?

It’s not a trick question but the simplicity of the answer baffles most people.

When I give talks and pose this question to the audience I get consistent responses:

  • Provide value”
  • Offer a service”
  • Work a job”
  • Get educated”

The truth is you can do all of those things and not make any money. Money comes from only one place. You have to get someone who has money to give it to you. This is the lifeblood of success in your business and in your financial life in general, it’s where it all starts.

So, in achieving a financial goal you’ve got to start with this question of “who” and follow it up with “where”. If I’m going to launch a campaign today to achieve a goal the first thing I start with is thinking of who has the money and the need for what I’m offering.


For you in building a list you should start with two questions:

QUESTION 1 - “WHO ARE MY MOST PROFITABLE MARKET SEGMENTS?”

If you’ve already got customers (people giving you money) you can examine what the best of them have in common. If you don’t then you’re going to speculate.

In sales there’s an expression “you sell to the M.A.N.”, which means someone who has:

  • Money – they can afford/have budget to spend on your products or services
  • Authority – they have the power to make the buying decisions…this isn’t as simple as it sounds because sometimes you’ve got to consider influencers for example a husband and wife in a family
  • Need – don’t get hung up on needs/wants the important thing is they’ve got demand for what you have to offer

When you pay attention to who is most profitable consider three areas:

  1. How much do they spend – this could include a single transaction or take place over multiple transactions. It’s about lifetime value not just one transaction.
  2. How easy is it to get them as a customer – the more you spend getting them as a customer and the more it costs you to maintain them the less worthwhile it becomes.
  3. How many people do they refer to you – a small customer who refers a lot might be worth a lot more than a big customer who refers no one

If you want to get deep into the process we teach the 7Cs of targeting in our training, you can download a FREE Action Sheet here or check out some of our paid programsYour objective is to come up with a particular type of person or ideally certain specific people.


QUESTION 2 - “WHERE DO YOU FIND THEM IN THE GREATEST CONCENTRATION?”

This speaks to groups these people are a part of and how many other people like them are a part of those groups. You pay for each person you contact so you want as many of them as possible to fit your message.

This answers the question of “what list?”

  • One list might be the circulation of a newspaper
  • another might be the listeners of a local radio station
  • another might be the attendees of a conference
  • or the subscribers to the mailing list of a particular author or speaker.

Think about the people you described under “who are my most profitable market segments?”

Now ask yourself who has a list of a lot of those people? More importantly since not everyone on the list will fit this criteria who has the greatest concentration of those people?

Where will you get your list? You’ll go to those people who already have the list (some are known advertisers so no problem, others you’ll need to build a relationship with) and offer to buy, rent or joint venture with them to contact the list.

Final point, it’s not all about who has the most or even who has the greatest concentration.

It’s also about what it will cost you to reach them. An Instagram influencer might charge you $50 whereas a radio station might charge you $5000. Pay attention to the lowest cost per member of your target market.

Finally, different types of communication will have different levels of impact. A phone call generally has better impact than an email and speaking in front of an audience (the list would be conference attendees) has better impact than a booth on a trade show floor. Sometimes you pay a premium per person but it’s worth it because you gain added credibility, clarity, and time with the audience.


What's Next?

​Obviously, this is the tip of the iceberg with plenty more to learn and apply but it's a great place to get started.

If you found this article useful and would like more like this please check out our other articles, download our free content and consider engaging with us in one of the following ways:

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