Question

Topic: Strategy

How To Narrow Target Group Or Reach More Prospects

Posted by Vikatk on 10/30/2017 at 12:12 PM ET 125 Points
I just started working at the B2B digital marketing startup, which until now found most of its clients through client/partner referrals. We are planning to expand the customer base and we target one particular type of businesses. There are about 5000 prospects. Could you please recommend what would be the best strategy? Is it better to narrow the target group and reach few prospects at a time or try to reach out as much as possible? This startup makes pretty much everything from UX to videos and has worked for several international companies.
That's right, I am a recent graduate and may not know simple things. I will appreciate any advice and help. A lot! Thanks.
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RESPONSES

  • Posted by mgoodman on 10/30/2017 at 12:30 PM Accepted
    The advantage of just targeting a few prospects at a time is that you can try a few different things at reasonable cost, and then expand whatever works best to the rest of the list. Without the test experience, the average cost per acquisition will almost certainly be higher.

    The drawback, of course, is that it will almost certainly take longer to find a plan that works well for you on a broadscale basis, and in the end may actually cost you even more.

    So the question is: "Which is more important: Make something happen quickly, or prove-out the approach first and expand a plan you are reasonably sure will work for you (and be affordable)?"
  • Posted by Gary Bloomer on 10/30/2017 at 2:23 PM Accepted
    Go narrow and deep. Do this for each niche.
  • Posted by dubois on 10/31/2017 at 3:38 PM Accepted
    How do you know there are 5000 prospective clients?

    Are you able to further segment that market , and how?

    How many new clients can this start up handle next year?

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