targetA lot of the companies we meet have not clearly defined their target customer. Some make the mistake of trying to appeal to everyone in the hopes of not leaving any potential revenue on the table. Other companies have a general sense of their target, but have never taken the time as a team to sit down, define, and gain consensus on the common characteristics of their best customers.

Both of these strategies can actually end up being costly to organizations. You’ll hear why in this short video excerpt from a marketing strategy workshop that I taught at the University of Chicago’s Polsky Entrepreneurial Center Accelerator. Not only does the video explain how to avoid these common pitfalls, it will help you define your target, resulting in a more effective and cost efficient marketing strategy. Watch the video here.