Jerry Fletcher

4 years ago · 3 min. reading time · ~10 ·

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Consultant Marketing Prospect Profile

Consultant Marketing Prospect Profile

Consultant
Marketing
Prospect
Profile

J.L.LFLETCHER

4 + Different SlantAs promised

Last week I published Eye on the Money here. Here’s the link if you missed it:

https://www.bebee.com/producer/@jerry-fletcher/consultant-marketing-eye-on-the-money

As I said then, you need to look hard at the clients you like working with that pay their bills on time, provide referrals and you’d like to clone. Before you go charging off after new business be sure you have a complete profile of both the individual prospect and his/her company with a complete comparison to your preferred client/company profile. I’m writing this from the perspective of a Consultant Marketing Master but the basic approach is useable for any business.

The people assessment

This is a process that works for me and has proven to be effective with the elite consultants I work with on three continents. You’ll need a sheet of paper you can work on in landscape orientation. At the top write MY PROSPECT PICK’R. To set up your worksheet drop down al line or two and put in these column headings:

Client Company Primary Contact Repeat?

Step 1. Jot down your clients for the last 5 years, or if you are new to this, as long as you’ve been in business. Note the client company and the individual you worked with.

Step 2. To the right of the names, if you’d like to work with them again (regardless of the reasons) write Yes. If not, just line them out but keep your record as we may need to analyze your reasons why and what it would take to put them in the “Yes” column.

Step 3. Add some facts about your engagement(s) with the “Yes” clients. Specifically under these column headings: Engagement Length Time Revenue Cost Outcome. The length is the number of weeks/months. Time is the actual time you’ve spent working on the project. Revenue is the revenue generated by that engagement. Cost is your non-reimbursed expenses associated with that assignment. Outcome is a measurement of the shift in client performance.

Now your worksheet should look like this (with examples):

MY PROSPECT PICK’R

Client Company  Contact  Repeat?  Engagement  Length  Time  Revenue  Cost  Outcome

XYZ Consulting  David B   No

ABC Leadership Jack T    Yes           Web site         1 mo      23 hr  $2500      0        Positive comments

                                                               30-Sec Mktg   1 mo     24 hr   $2250      0       Quoted in referrals

Cushy Consulting Nan R  Yes            Full Persona   3 mo     53 hr  $5600    $129   3 new clients/mo

HI tech Inno Jeff G No 


Step 4. I have not included the extended data on those I marked “No” even though one was on retainer for $1000 a month in excess of 13 months and the other generated over $50,000 in six months as well as a stock position in the company.

The first was because the client just wouldn’t pull the trigger. The latter was because the venture capitalists proved to be pain where a pill won’t reach.

Now comes the hard part Even if you said “Yes” you need to look at time versus revenue less costs and calculate actual income. Sometimes you like a client so much you don’t charge them for all the time you’re spending. Sometimes the challenge is so fascinating that helping them resolve it is a huge psychological boost.

At the bottom of the worksheet you need to prepare three assessments:

Assessment 1. Client company

Look at size (employees, sales, revenue), industry (size and direction), longevity, management (strengths, weaknesses and intent), ownership. Be clear on where this company is in terms of its development. Is it a start up? Is it struggling to grow? Has the pace of growth caused problems?

Assessment 2. Client Contact

This is the person who hired you and you report to. The higher the level the better. Owner, President and CEO or COO are the titles that have the most clout. Note that in larger organizations Division Managers might be able to hire you. For each of the client contacts look at demographics and psychographics. Look for similarities. Underline them.

Assessment 3. The Ideal Prospect

What is it about those you designated with a “Yes” that caused that gut reaction? Write it down. Now look back at the revenue. Is there cause for you to reject or not chase a similar organization and contact because the income isn’t there? Should you look at your rates or how you charge clients to find a better way?

Can you define the prospect that could become your next ideal client now?

Here’s a word portrait of my ideal client (more at www.JerryFletcher.com):

Entrepreneurs and Singular Consultants
You're one of the best at what you do but not enough people know that. You know you need Consultant Marketing and a Brand but are not sure how to take yours up a notch. You know that to be successful you must be remembered. You're looking for a better way to build referrals and operating on a tight budget without a lot of time to put into your marketing. You’re tired of being told what to do and want help with the how.

And so it goes. 

____________________________________________________________________________________________________________________

€

   

Jerry Fletcher
Consultant
Marketing

1

  

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«\Jerry Fletcher is a sought-after International Speaker, 
a beBee ambassador, founder and Grand Poobah of www.BrandBrainTrust.com

His consulting practice, founded in 1990, is known for on and off-line 
Trust-based Consultant Marketing and Brand development advice 
that builds businesses, careers and lives of joy.

Consulting: www.JerryFletcher.com
Speaking:
www.NetworkingNinja.com 
DIY Training: www.ingomu.com


Comments

Ali Anani

4 years ago #8

#8
Dear Jerry- I wish people would follow your steps. It is a success formula.

Jerry Fletcher

4 years ago #7

#5
Dr. Ali, If you ask most sales people what their closing ratio is they will tell you, if they are being modest, 80%. Pushed for numerical verification I find that the best do about 55% but most hover around 30%. The reason I have a high rate is attitude. I only talk to people that have a problem I can solve, have the money to pay for counsel and the authority to sign the agreement. Most important, I am not pitching them. they are pitching me. In other words I have reversed the rolls. And so it goes.

Jerry Fletcher

4 years ago #6

#4
Gerald, If you get good at it then you can get out of that lab at the back of the campus and get yourself a nice hoe office at the end of the sidewalk. And so it goes.

Jerry Fletcher

4 years ago #5

#3
Pascal, I do have low overhead. I have worked out of a home office since I opened the doors on the practice in 1990. Even with higher office costs in many cases my clients enjoy the fruits of referral marketing based on the process I call Nonstop Referrals TM. My annual research of successful consultancies shows that referrals is one of several equivalent reasons purchasers buy in the start-up phase. But in both the growth and established phases it is the single most important source of new business.

Ali Anani

4 years ago #4

#2
Jerry- this is truly amazing.

Pascal Derrien

4 years ago #3

The comment below and the article are pretty insightful , referrals is pretty powerful when you have a low overhead

Jerry Fletcher

4 years ago #2

Dr. Ali, My practice is entirely generated by referrals and personalized marketing. If I agree to meet with a prospect, the first hour always free but the conversation will be the basis of my decision on whether I will work with them. In those situations, my conversion rate is 58% if I decide to pursue the engagement. My over all conversion ratio if you consider all the potential prospects is 53%. If you are curious as to my conversion rates from on-line activities I can't give you a complete answer as there are many visitors to my web sites that never connect. Of those that do I close about 60%.

Ali Anani

4 years ago #1

Dear Jerry- you are very generous to share your practical methodology with your readers (and possibly competitors). I am sure there is creativity in the process that enables you to keep off competition. I wonder what is your conversion rate?

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