Contracting Officer Podcast Slides Knowledge Insights From Contracting

Contracting Officer Podcast Slides Knowledge & Insights From Contracting Officers 1

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

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 3

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… 4

Standard Operating Procedures for Selling to the US Government…. But NOT your company, right? ? 5

Let’s all agree… • There is enough competition and enough opportunity • Think abundance, not scarcity 6

Your ideal Target Market m ea T n A Reachable Market tio i s ui too q c Weight Class 7

Reachable Market 8

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 9

Target Market 10

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) 11

Weight Class m ea T n A Reachable Market tio i s ui too q c Weight Class 12

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. 13

What is your Weight Class? • Example: Skyway does not pursue opportunities over $1 B • We turned down a $150 M 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 14

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? ’ 15

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 16

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? 17

What is our point? • Identify your ideal Target Market… • Then filter ruthlessly! 18

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 19

Contact us • We are on Linked. In, 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 20