What the 2021 Summer Interns Have Learned – Part 2

Written by Audrey Tuttle

Last week, our blog featured an exciting post showing off this year’s summer interns. This week, we wanted to write an equally exciting post continuing the Q&A with these special individuals. Dunlap Marketing is determined to prepare these aspiring businesspeople with everything they will need to know prior to entering the business world.

Without further ado, here is part two!

What is your favorite thing about working at Dunlap Marketing?

“I really enjoy our weekly breakout sessions. I feel like I have learned a lot this summer through that time with Kaitlin. She has taught us many valuable lessons that we can start applying to our lives now, but that will be especially important post-college graduation.” – Amy Djuvik, Texas A&M University, Supply Chain Management

“My favorite thing about working at Dunlap has been collaborating and working with other interns. It is nice to have people my age in a professional setting!” – Scott Ashmore, Texas A&M University, Finance Major

How has your experience been working with the leadership team at Dunlap Marketing?

“Working with Kaitlin and Mike has been such an amazing experience. They encourage you to ask for help when needed which allowed me to perform my job duties to the best of my ability. They have created a warm and welcoming work environment that generates the desire to come into the office each and every day and truly enjoy the work that I do.” – Molly Rhoden, University of Oklahoma, Business Management Major

Is there anything that you have learned here that will be beneficial in your future within the business world? If so, what is it?

“The detail that goes into a lot of things can show people that you care and that they are valued, so I think that is something that can really help me in the future if I remember to always pay attention to details.” – Daniel Corteguera, Southwestern University, Business Major and Spanish Minor

“I think learning to be comfortable with cold calls has been very beneficial because no matter what you do you will have to talk to people and being able to make a good first impression quickly will help in all areas of life; business and social.”- Amy Djuvik, Texas A&M University, Supply Chain Management

We have had an incredible summer watching these interns grow within many areas of our company, and we are excited to see the impact that they each will make on the business world.

What the 2021 Summer Interns Have Learned

Written by Audrey Tuttle

Dunlap Marketing has a heart for helping the current generation of college students with their desire to get real-world experience – we’re proud to have hosted over 20 interns over the past six years (check out some of our previous interns here, here, and here)! Our summer internship program has created an opportunity for these ambitious individuals to work firsthand with the leadership team and staff at Dunlap Marketing. Each year we have been blown away from the talent and hard work that has been shown by our interns, and this year is no exception. With a group of six students who come from a variety of different colleges, they have been able to grow their knowledge outside of the classroom and work on various projects within our company.

They have gained experience in cold calling, lead generation, telemarketing, marketing through social media, data research, B2B operations, and much more. Additionally, the interns have learned about the ins and outs of being successful in the workforce through the weekly breakout sessions with Mike Dunlap and Kaitlin Dunlap Cuevas.

Of course, these statements can only be backed with a fun Q&A with the interns…

What work have you been doing at Dunlap Marketing?

“I have been working on research projects where we have been gathering information via telephone as well as online research. I recently started a project where we are surveying current customers to see the future of their fleet’s regarding electric vehicles!” – Scott Ashmore, Texas A&M University, Finance Major

“Over the course of my internship at Dunlap Marketing, I have been working on several B2B campaigns. Typically, this includes calling other businesses, obtaining general information, setting appointments and performing surveys.” –  Molly Rhoden, University of Oklahoma, Business Management.

What skills have you developed while working at Dunlap?

“While setting appointments, closing can be a tough task, and I feel as if my ability to read the customer and communicate clearly and efficiently has grown immensely.” – Thomas Nassab, Clemson University, Financial Management

“I would say the biggest skill I have developed is confidence when talking to people. I’m not always the most outgoing person so getting more comfortable talking to other people in a professional environment has definitely improved my communication skills.”- Daniel Corteguera, Southwestern University, Majoring in Business and Minoring in Spanish

We love hearing what our interns have to say about their experience at Dunlap Marketing. Check out next week’s blog for part two of our intern Q&A. You won’t want to miss it!

How To Identify Your Target Market With Three Simple Data Points

Part 2

As B2B marketers, business developers, and salespeople, it’s our responsibility to keep the sales pipeline full of prospects. This is no easy feat and takes a lot of hard work. When the flow of word-of-mouth leads and referrals runs dry, where do you go? How do you define your target market and find businesses that can become your future prospects?

Last week, we discussed the two ways to approach this question – the method that will be the best fit for your company depends on your starting point.

  • Starting Point #1: You have a list of current and/or past customers AND you want to continue selling to customers who are similar.
  • Starting Point #2: You are starting from scratch. This means, you do not have a list of current and/or past customers OR you have a list, but you do not want to reach this group, instead, you want to target a new segment.

If Starting Point #1 sounds like a fit for you, go back and read this post.

Maybe you’re just starting out. Or maybe your goal is to grow by breaking into a new segment. If so, Option 2 is for you. Arguably, this route can feel very intimidating. But, if you apply the same three data points we reviewed last week, geography, industry, and size, you can easily conquer identifying your target market.

Here’s how to use geography, industry, and size when you’re starting from scratch.

  1. Geography – can be defined by state, city, county, zip code, or even neighborhood
    • When you’re starting with a clean slate, it is easy to think “everyone is my prospect”. And while that might be the case, it is not an attainable lead generation tactic. You need to have a starting point, or an “A List”. If you put your blinders on and start thinking realistically, geographically, where will your first buyers come from? Often, they come from your own backyard – or neighborhood, county, city, state, etc.
  2. Industry
    • Start by filtering out industries you know you do not want to work inside of – examples include competitors and non-fits. For example, if you’re a business banker, you would want to filter out other banks.
    • Next, brainstorm the industries that are good-fits. This is where you’ll start finding your target industries. For example, if you sell industrial kitchen equipment, you will want to include industries such as restaurants, hotels, senior living facilities, hospitals, etc.
  3. Size – can be defined by employee count, revenue ranges, or physical square-footage
    • This is where you begin zeroing in and really start identifying your target market. There are multiple ways to define the size of a company – depending on your product or service, we suggest using either employee count, annualized revenue, or square-footage – sometimes, a combination of the three. For example, if you sell on-site fueling services, there’s probably a minimum number of gallons you want to fill on each site – you can use employee count to gauge the number of cars on site, which will give you an approximate number of gallons. Or, if you’re a commercial roofer, you would look at square-footage to determine buildings that have roofs that are in the size-range you want to do business with.

Whether you’re starting from scratch or have hundreds of existing customers, you can identify your target market. By using geography, industry, and size, you will be well on your way to your next selling opportunity!

Six Steps to Redefine Your Target Market

Who is Your New “Best” Customer?

What to do when your current customers are negatively impacted by the economic state and they no longer need or can afford your services

Between oil prices and the pandemic, some businesses have been turned upside down.  Our best customers are no longer our best customers, they have been greatly impacted by either or both of these major economic bombs.  For our businesses to survive, we now have to figure out how to identify a new target market, also known as our best prospects and customers.

We will be discussing in detail the six steps to redefine your target market. Those steps consist of identifying second and third tier prospects and customers, creating your list, researching industry classifications, identifying patterns, researching similar companies that match patterns, and building a list based on research findings.

Let’s start by thinking about who our second or third best customer was prior to the drop in oil prices or the pandemic.  In doing this, focus on who these customers are by identifying what industries they might be in. For example, many of our customers are in different industries and are B2B with us as we perform marketing research services for them.  This exercise is not impactful if all of your best customers are inside the same industry.  Think in terms of “best customers” by different industry types.

My suggestion is to look into your current customer list and flag those second and third tier customers, ideally less impacted by our current state of the economy.  Once flagged, create a list of these accounts and include their address, city, and state.  With this information you are able to research their industry classification.  Document industry classification for each and you might start seeing a pattern of industry segments.  It is helpful but not critical to see patterns.

If you’re starting to see a pattern that you trust; next, think about refining your new target market.  Most common ways to refine include adding annual revenue and/or employee counts into the equation.  Geography might also be helpful.  Once you have captured all the necessary data, your final step will be to match other companies that mirror the final product of your research.

If you do not immediately see a pattern, consider adding more customers to your research list.  Or, you might find that you have a broader profile of customers.  When this is the case, often it becomes helpful to tighten up your requirements by making sure other elements are included in the search.  Often these include annual revenue, number of employees and geography, the same as above.  These elements are important in broad profiles because they allow you to make best efforts at zeroing in on your potential customer a bit more.

The final step is to build a new list of potential prospects based on the research work just done.  There are several list tools available to do this or Dunlap Marketing will be happy to do it for you.  The result is you have a spreadsheet of new prospect companies.  Now its time to reach out and promote the message of who you are and why these prospects should consider your products or services.  At this point you have adjusted your business based on world events, and you are on your way to making new “best” customers.