Known Universe.
In Marketing/Sales, it simply refers to a database of companies.
When you start building your list, you normally start off with this database. Let’s call them suspects.
Next, you target a subset of customers in this list.
You narrow down by location or Industry [Manufacturing, Retail, Banking, Software & what not] or Revenue.
Let us say you are selling an ERP Software. You know who your ideal customers are.
You don’t target the retailers. The ideal customers are in the Manufacturing industry.
Once you narrow down, you create a list of suspects.
Next, you build a campaign to target these customers.
20 years ago, you would send out a mailer [printed hard copy through mail] and 10 years ago you sent emails.
Email is still relevant. No doubt on that.
But email marketing without any PERSONALIZATION will not work today. This calls for some homework.
The marketer has to do research on the prospect & understand their business in greater detail.
Then, look at how the product/service is going to help the customer. You get the idea, right?
If you are able to convey that in words, you will be able to make the desired impact. It calls for some work.
If you had a list of 500 suspects 10 years ago, you would craft a single email template and mail merge it with first name, company name etc and send it to the entire list of 500 suspects.
Today, that is not going to work.
Unless, we understand their business, email marketing will not work. The email we send has to be very specific to the recipient and it should make sense to him/her. If our product or service is a solution to their current problems, then we have a buyer.
Not many marketers do this. Hence, it is an opportunity to stand out from the rest of the crowd.
Happy Marketing!
Happy Selling!
#b2bsales #emailmarketing #kkrocks
