No.120: Because that’s where the money is

Weekly Wisdom 2012

Why do you go to bed at night?
Because the bed won’t come to you.

The same is true about your prospective clients. You have to go to where they are. Obvious, right? Surprisingly though, this is oft-confused by those in the professions: lawyers, accountants, recruiters, and the like. You rarely pick up new business at your own profession’s industry events. Your clients usually don’t attend those.

You have to go to where your ideal clients are hanging out.

  • Who is your ideal client?
  • What do they look like?
  • What type of industry?
  • Where are they geographically located?
  • What type of offerings do they provide?
  • Who are their clients?
  • What is the value they deliver to their clients?
  • What are their challenges?
  • What problems are they facing?
  • What solutions can you offer that they would perceive worthwhile?

The answers to these questions inform you as to what magazines they read, what associations they belong to, what industry events they might attend. Now you know where to market, where to network, where to advertise, what events to speak at, what trade shows to attend, what journals to get articles published into, etc.

When Willy Sutton–the famous bank robber–was finally apprehended, the arresting officers asked him why he robbed banks? “Because that’s where the money is.”

You have to get your marketing to where the money is.

Marketing takes a day to learn. Unfortunately, it takes a lifetime to master.”Marketing Wisdom Paperback
– Philip Kotler

© Ric Willmot 2012. All rights reserved.

To learn more of how you can get your business to where the money is, read Marketing Wisdom: How to attract, acquire and retain clients even if you hate selling available on Amazon and in all good bookstores.