[TheForge] marketing
Andrew Vida
osan at netlabs.net
Mon May 19 10:09:53 EDT 2008
Cindy and James wrote:
> It depends on who (whom ??) you choose to market to.
It depends on to whom you choose to market.
Grammar police out.
> Bill Epps is
> often quoted, "If it sells for $25 or less and looks good in a double
> wide..." There is nothing wrong with that market if that is what you
> choose.
Nothing inherently wrong with any market. The sin is not knowing the
market in question, which means you will not know what to expect except
by fluke.
> But there are people who have "unlimited funds", and we (my
> wife and I) have chosen to target that market.
The funny thing about this market is that those clients with the most
disposable cash are often the biggest pains in the ass. We worked with
all the top designers in Phoenix. Nancy Kitchell was tops in those days
and all I will say is that she was "difficult". Be had one guy from
Paradise Valley, personally worth something akin to $1 billion. He came
in, we talked, we designed, he approved and paid IN FULL upfront and we
built and installed. That was by far the exception - rarer than lips on
an oyster.
That brings up the art of client management. It is something every
business person needs to learn. Order of operations in any transaction
is important if you don't want to be left without a shirt and trousers.
> Another thing, most people "want something" but very few know "what"
> they want when it comes to art or design. If you can incorporate a
> designer (female artist with a flair for design) into your business,
> your head will start to spin!
This is a most excellent point and the world is rife with this
particular issue. I cannot count the number of clients I have consulted
to who were ready to plunk down $100MM and more, thinking they knew what
they wanted. With some carefully contrived questioning they come away
in a state of perplexity as often as not.
> In the Dallas-Ft Worth area there are roughly 70,000
> households with net worth exceeding well over $1,000,000 and that
> number will grow by 45,000 in the next 5 years. (Source of info, D
> Magazine.)
I'd be wary of such figures. When I was living in PHX the population
was projected to grow to 13 millions by 2008 by a "reputable" journal.
Well, it is '08 and the population is only about 1/8 of that. My
point is that one should be very careful about what information to use
in planning business strategies and campaigns. Seriously folks,
mistakes such as this can sink you pretty fast.
> I'm not saying that will happen or that I will be a part of that, but
> my point is that the MARKET is there!
Agreed, but even good markets can be very elusive. As I said above,
sometimes the people with th emost cash are the hardest to engage.
Perhaps that is why they have so much money.
-Andy
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