Lorraine Ball

My most recent article for the ACH&RNews was published this week.  I am really enjoying getting reconnected to the HVAC industry.

A few days ago I introduced this challenge to my readers, to help me write the second addition of my book, :The Entrepreneur’s Notebook.

Over the next few weeks I am going to post sections of the original text and ask for additions, corrections and other ideas. Anyone who submits ideas will be included in the list of contributors for the book.

Today’s Text comes from the Section on Defining Your Target

The process of defining your target customer is not about limiting to whom you sell, but simply to whom you actively try to reach with your marketing materials.

Few companies, with the exception of perhaps Coca-Cola® or McDonalds®, have sufficient funds to support a true mass market campaign, reaching all consumers.

Instead, savvy marketers look to down their audience to those people who are most likely to buy. Their goal is to craft a message which is relevant to these prospects and potential customers. It is about reaching the right customers, with the right message, at the right time!

So I am looking for thoughts and ideas on how to segment your market, find or define your niche, as well as examples of companies you think do this well.

In 2003 I wrote the Entrepreneur’s Notebook. I had no illusions of winning a Pulitzer prize. I simply wanted to create a workbook I could use with my clients, and perhaps sell a few more along the way.

A few days ago, I opened the last box of 50 from the first reprint. Two things occured to me:

1. Somewhere in the world there are more than 900 business owners with a copy somewhere in their office, hopefully filled out.
2. It is time to work on the second edition

As I get ready to review the contents, I know there are things I want to change, sections I want to add, especially about using social media as part of your marketing mix. Clearly this was not on my radar screen five years ago.

But in the spirit of Social Media, I would like to make this next edition a collaborative process. So periodically, over the next few weeks, or months, (however long this takes,) I am going to post sections of the book. I hope you will add your comments, suggestions and ideas. And if I include your content, which in many cases I am sure I will, you will be listed among the collaborators in the forward of the book and on on-line.

Interested? I hope so! Here is the first topic – just as a warm up:

If you boil marketing down to one phrase or concept. What is your most important marketing rule?