If sales and marketing were exact sciences, we would need more technicians than strategists. Neither area follows hard and fast rules, but rather best guesses based on statistics. But you have some fundamental information to get you started. You’ve got something to sell (a product or service) and the people who are likely, willing, and able to buy.
Depending on how you pair your products, services and prospects, you will have different marketing challenges. It is always easiest and least expensive to sell to your existing clients, because the relationship is established. But that doesn’t mean you shouldn’t venture beyond there. You will probably add new items to your offerings and those people who have bought in the past are your best choice for a quick sale. But what other scenarios exist? Here’s a Customer-Product Four-Square that diagrams that four different pair-ups and how they can challenge and benefit your business:
|Existing Customers / Existing Products
||New Customers / Existing Products
|Existing Customers / New Products
||New Customers / New Products
Where are you in this schematic? Are you in more than one place? Most businesses will—and should—be. Think about where you are and where you want to go. Then use this information to start the conversation for planning your strategy.