Sweet Success: How Key Lime Pie Can Help Identify Your Perfect Prospect

In today's competitive market, identifying the right prospects can make or break your business. Imagine if a simple dessert could teach you how to find your perfect customer. Allow me to illustrate the simple yet profound exercise I call the Key Lime Pie Principle.

Pretend for a moment that we are in the restaurant business. You are the café owner, and I am your top employee, as both the ma?tre d' and the server. Because dessert is our most profitable category, you have encouraged me to “sell” dessert to everyone. Today’s special is Key Lime pie. Accordingly, at all tables, I present our tart, sweet, and tasty “product” on a beautifully adorned dessert tray. Without exception, everyone at every table shows some form of excitement when our incredible products lie within arm’s reach. As a “salesperson,” I am enthused by the universal excitement, counting everyone who shows interest as a “prospect.” I wholeheartedly dive into my sales presentation with great anticipation. As I make my way around the table, I am faced with responses like, “I wish I wasn’t so full! No thanks”; “I would, but I am lactose intolerant!”; “No can do. I am allergic to gluten!”; and even, “What do you think honey, want some pie? Nope, it’s just not in the budget! Maybe next time.” Ultimately, mercifully, my final attempt to “close the deal” with the last couple at their table is met with “Oh yeah, we want it, and we want it now! We’ll take those two pieces right there!” SUCCESS!

This exercise highlights a crucial lesson: Not everyone who shows interest is a qualified prospect. Despite the universal “interest” from the table of six couples, 67% of them did not buy what I was “selling.” There are myriad reasons that people give for not buying, some are excuses (too full, not in the budget, maybe later, etc.) and others are legitimate reasons to decline (lactose intolerance, allergies, etc.). The tire kickers and their excuses can and should be discerned in the qualification process. Similarly, the prospects with potential cannot be “perfect” without an immediate need, the budget, AND the check-writing authority to sign on the dotted line. Whenever possible, full sales presentations should only be made to “perfect” prospects. In this case, that is someone who is not full, has no allergies, does not have to seek permission, and has the means to sign and buy.

Most if not all of the excuses and reasons for refusal can be uncovered in a thorough discovery process. If utilized properly, time and effort efficiencies like research, phone calls, and email will reduce the prospect pool to only those who meet the criteria necessary to be deemed “perfect” for your product. Checked boxes in Salesforce for reps’ sales call volume will rarely indicate success. You must define the unique and specific characteristics of your Perfect Prospect, without concern of eliminating “potential.” Potential is a word used to define someone or something that is falling short of excellence. Educate your marketing and sales teams on how to identify and approach only those who meet your clearly defined criteria. How would you describe your Key Lime pie buyer?

The rest of this article aims to expand on the concept of understanding your customer, building off my previous posts regarding the Voice of the Customer (VOC). Often, organizations cast a wide net, marketing or selling to every potential customer. This unfocused approach can frustrate customers and lead them to competitors who truly understand their needs. Let’s explore how you can identify your Perfect Prospect.

Defining the Perfect Prospect

At its core, the Perfect Prospect not only aligns with what you offer but is also most likely to appreciate and value it. Understanding who they are requires digging deeper than surface-level demographics. It means taking the time to truly empathize with their motivations, experiences, and expected outcomes. Let me illustrate this with a few examples from my career.

Success Stories: Finding the Perfect Prospect

Invitae's Journey with Genetic Counselors

During my time at Invitae, it was crucial for us to understand our primary customer—the genetic counselor (GC). At one point, we faced some internal changes that we knew might not sit well with them. However, because we took the time to understand their primary motivators, namely their compassion for patients, their expertise, and the potential reasons they might become dissatisfied, we were able to craft messages that legitimately framed these changes as beneficial for them AND their patients. By anticipating their concerns and addressing them up front, we mitigated complaints and fostered trust.

Commercial Interior Design Firm's Rebranding

When I served as a fractional Chief Marketing Officer for a commercial interior design firm that specialized in hospitality, we faced the challenge of expanding our corporate focus (select-service, cookie-cutter hotels) to luxury and boutique establishments. To do this effectively, we needed to identify the types of projects that aligned with their creative vision and determine the key decision-makers for those projects. My team facilitated an “Epiphany Session” that helped us understand the firm’s goals, customer perceptions, and industry reputation. By clearly and specifically defining our Perfect Prospect, we developed a targeted strategy that led to a total rebrand. I recently checked in with the CEO, who confirmed that they are currently working on better and more enjoyable projects and have experienced significant growth in the process.

Humor in Marketing

Additionally, when I ran my own marketing company, we had a client specializing in marketing through humor. We knew that humor can be a double-edged sword; not every business is suited for humorous marketing tactics, and not every customer has a sense of humor. To navigate this, we needed to understand their business customers and decision-makers thoroughly. This knowledge helped us tailor our approach and ensured that we resonated with the right audience. Without this insight, we could have easily missed the mark.

Key Lessons for Marketers and Business Owners

Here are some key insights to help you align on the concept of the Perfect Prospect:

• Understanding Needs and Pain Points: Dig deep to uncover your customers' genuine needs, pain points, and motivations. Addressing these aspects will lead to more effective marketing strategies.
• Empathy and Relationship Building: Empathy is a cornerstone of successful marketing. When you understand the emotional drivers behind customer decisions, you can create stronger connections that foster loyalty.
• The Importance of Segmentation: Avoid the one-size-fits-all approach. Segment your audience based on specific characteristics and preferences to tailor your messaging and offers effectively.
• Data-Driven Decisions: Utilize data to inform your decisions about the Perfect Prospect. Leverage analytics and feedback to refine customer profiles and adapt your strategies accordingly.
• Adapting Messaging: Craft messages that align with insights gained about your Perfect Prospect. This proactive approach can preemptively address concerns and objections, minimizing pushback when changes occur.

Conclusion

Understanding the Perfect Prospect isn’t just a marketing tactic; it’s a fundamental strategy that drives success. By truly knowing your customers—who they are, what they need, and how they feel—you unlock the potential to create campaigns that resonate deeply. So, how well do you know your Perfect Prospect?

Can you share an experience where identifying your Perfect Prospect made a significant difference in your business strategy? What steps did you take to understand their needs and preferences?