Contracting Officer Podcast Slides Knowledge & Insights From Contracting Officers

The Importance of Targeting Episode 016 The Importance of Targeting Original Air Date: March 2, 2016 Hosts: Kevin Jans & Paul Schauer

Formatting notes Hyperlinks: Blue font indicates hyperlinks – presentation must be in ‘Slide Show’ mode to activate the link Red bold font indicates a point of emphasis Green bold font indicates CO’s personal comment or perspective

Introduction Why is Targeting important? What are the 3 parts of your IDEAL target market? Reachable Market Target Market Weight Class Where can I learn more? NOTE: This is NOT just for industry…

Standard Operating Procedures for Selling to the US Government…. But NOT your company, right????

Let’s all agree… There is enough competition and enough opportunity Think abundance, not scarcity

Your ideal Target Market Weight Class Acquisition Team too Reachable Market

Reachable Market Reachable Market

What is your Reachable Market? What you can DO within your NAICS, SB Size Standard, Socio-economic status, etc. Example: Skyway’s Reachable Market is the 500,000 companies in the System for Award Management (SAM) that could benefit in some way from a Contracting Officer’s Perspective

Target Market Target Market

What is your Target Market? What you can WIN within your NAICS, SB Size Standard, Socio-economic status, Geographical focus area, Past Experience Envelope, Etc. Example: Skyway’s Target Market is the privately-owned companies with over $500,000 in annual revenue, 5+ employees, and at least one Government prime or subcontract There are 25,000 of these (10% of our Reachable Market)

Weight Class Weight Class Acquisition Team too Reachable Market

What is your Weight Class? The right size of opportunity that you can afford to WIN or lose without derailing your company - or - The size of requirement you can solicit, award, and administer without derailing your team/office/agency Do not think about what it will get you… think about what it will cost you.

What is your Weight Class? Example: Skyway does not pursue opportunities over $1B We turned down a $150M company who was targeting a position on an enormous GWAC (Government Wide Acquisition Contract) Because it would have derailed us Yup, we turned down a potential a huge “opportunity” because it would have consumed us

What is your Weight Class - Government? Do you know how to solicit and award this requirement? If not, do you have time to learn? Are we making it easier or harder to administer? Will this acquisition strategy meet the schedule? Can you use an ‘agile’ approach? Can the customer survive the ‘protest zone?’

What is your Weight Class - Industry? Can you survive the Market Research and RFP Zones? Can you endure the Source Selection Zone? How much growth can you really handle? Can you afford to lose? It will happen

How to Find Your Target Market Does the Government buy what you sell? Which agencies buy the most? How much do they buy? When do they buy? How do they buy? Are they a fit?

What is our point? Identify your ideal Target Market… Then filter ruthlessly!

Summary Targeting is vital for efficient and effective marketing and pursuit Three parts of the Ideal Target Market: Reachable Market Target Market Weight Class Targeting focuses resources, saves time, and optimizes the chances of success

Contact us We are on LinkedIn, Twitter and Facebook We also started the Government Contracting Network Group on Facebook. Join us there! Send your topics to paul@Contractingofficerpodcast.com For Community support, contact Shelley Hall at shelley.hall@skywayacquisition.com