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What’s A Prospect Matrix, And Why Is It Vital To Your Lead Generation?

The Prospect Matrix

The Prospect Matrix

Who are you talking to?

The conversations you have with the leads you attract through your Lead Generation System, should be designed around where those leads are when you first make contact with them.

Too many businesses try to market to everyone, using the same methods. In truth, not all lead generation techniques and platforms are suitable to all the leads you could target.

Just as the conversation and tone of voice you might use would differ based on the people you are with and the situation you’re in, so your Lead Generation System should allow for the differences in the leads you target.

You would probably have very different conversation topics and language than presenting to a room of 100 people at a workshop or exhibition. But, most of the time, businesses fail to take the same approach with their Lead Generation.

Plot them on the matrix

A clear way to identify ‘who’ your marketing is trying to reach, is to identify them on the Prospect Matrix, and then design your marketing specifically for them.

The Prospect Matrix consists of 4 quadrants, from two axes.

On the vertical axis you determine how aware your prospect is of the problem you solve. The horizontal axis tracks how aware they are of you and your ability to solve their problem.

When creating the elements that make up your Lead Generation System, first identify where on the Prospect Matrix the people you are trying to reach are, then create your marketing to speak specifically to those people.

For example, someone who is in the bottom left hand corner of the Prospect Matrix (1), doesn’t realise what the specific problem in their business is, nor do they know about you or your ability to solve the problem for them.

This group is very hard to target or identify. Your Lead Generation System at this stage will be all about education and positioning. A bit like what I am doing here with this blog, and other activity on social media.

I am educating business owners about the cancer of 2-minute tasks and how they can improve their businesses through automation, while at the same time building a relationship of trust and authority.

This strategy is not an overnight process, but can be of great benefit to your business in the longer term.

The problem I see is that business owners take this approach, but expect immediate results, not realising they are having the right conversation but with the wrong audience.

The next group to identify are those people who realise they have a problem, but don’t know about your solution. (2) in the image above.

Search advertising can work well for reaching this group, as they are actively looking for a solution. They have identified the problem and want to have help solving it, they just haven’t found you yet.

The next group (3) have started to realise they have a problem, but don’t know about you. The key to reaching this group is that you are able to identify them, and then reach them with an appropriate message.

Facebook marketing can be very effective here. As an example, we have a couple of products specifically created for users of Infusionsoft, and we are able to specify that in our targeting on Facebook.

At this stage, we are still reaching an audience who don’t know about our solution to their problem, so we need to do some education as part of our messaging, but we can be very specific in our language, because we know that they understand the terminology. Using the correct terminology also helps to show our experience and expertise.

The fourth group you could identify (4) would be those who are aware of you, but they don’t realise they have the problem that you solve, or that you are able to solve it.

Think of the number of times someone has said to you ‘Oh, I didn’t realise you did that.’ These could be existing or past customers, and you have a new product or service, but have not communicated this to them. Your message would be very different to this group, as opposed to group (1) identified earlier.

Where are you trying to get to?

The last group would be those who are ready to do business with you. (5) They know they have a problem and know that you can solve it for them. They key here is that they trust you.

Regardless of where someone is on the Prospect Matrix when you start the conversation, the aim is to move them up to the top right-hand corner of the Prospect Matrix.

Here they will be very clear about the problem they are trying to solve, and you will be the natural choice when they choose someone to help them solve it.

Your Client Acquisition System will be the key to achieving this.

If you take the time to identify these 5 groups within your business, and then create your Lead Generation System to specifically address these groups, you’ll have a much more effective marketing strategy than most.

Be very clear about where your audience is on the Prospect Matrix before you decide on your message and next steps.