I thought I'd share one of my marketing development programs with you. It's called "Power of Three" or "P3" for short:
- three markets
- three targets
- three plans
In a nutshell, the idea behind P3 is to pick three very different markets, develop three different goals, and the put a plan together for each.
Well, I'm a big believer of not keeping all the proverbial eggs in a single basket. I am also a believer in not trying to do too much.
With P3, you pick three "markets". These could be demographics, industries or other cross-segment of potential clients. This can be tricky. We all have our comfort zones. That's why when I work with clients on the P3 program I specifically ask them to pick three unrelated market segments.
When done, pick three targets or "goals", one for each. A goal (or target) is, in this case, defined as something that is you feel is achievable by you as it relates to the market.
Now, you put a plan together.
THE T-O-R-C-H SYSTEM
In order to accomplish all of the above, I use a system called "TORCH" (Target / Objective / Resources / Calendar / How). It's a process that can help focus your attention and hopefully give you some ideas.
"T" is for TARGET, our intended audience. This could be a certain type of company, an income level or geographic region...depending on your industry, this will vary. But for the P3 program you need to pick 3 different ones.
In part 2, I'll go into TORCH in more detail. For now, if you're interested in giving this program a try, I'll leave you with some homework:
Pick your three target markets. This is easier said than done. You're looking for three sets of potential clients that you'd like to go after. Consider all options and pick the three that suit you best.
In the meantime, feel free to email me at email@example.com if you've got any questions.