LinkedIn Outreach Bootcamp
Targeting with the Money Client Matrix
Welcome to Linkedin Bootcamp!
The techniques and approaches we use in this course are not gimmicks. They are strategic, evergreen, practices that have been battle-tested by an agency under pressure to get leads. We'll be using tools native to LinkedIn and learning white hat practices that will keep you from getting account penalties.
We’ll talk about using the Money Client Matrix to make sure you target the right audience on LinkedIn in just a moment.
This bootcamp was designed with two primary goals in mind:
- Empower you to learn how to use LinkedIn to get B2B leads. I want you to learn how to think – not what to think.
- Get you excited to get out there and creatively use LinkedIn to meet your sales goals.
First, a little housekeeping
LinkedIn is different than other social platforms - even though on the surface they look relatively similar. Let’s spend a moment going over these high level topics that will set the stage for your outreach moving forward:
- Frame of mind
- Types of accounts
- Account Settings
Frame of mind
When people are on LinkedIn their frame of mind is very different than when they’re on Facebook, Instagram, Twitter, you name it. What’s on their mind while on LinkedIn? Work. Specifically, things that will make themselves successful.
The implications? Everything you do and say should be in line with the culture of a professional platform that brings professional value to its members. That influences your posts, messaging, grammar, comments, people in your network, everything.
Types of accounts
When it comes to types of accounts LinkedIn has a lot going on. There are free, premium, sales navigator (wait for it... three kinds of sales navigator accounts alone!), and recruiter accounts. Not to mention advertising accounts if you want to do paid.
What’s the best type of account for you? Let’s do a benefits comparison.
Note: Sales Navigator features below is the cheapest plan titled "Professional"
Few platforms give users the amount of account control and privacy LinkedIn does. But there is a downside - it gets overwhelming. Here are a few account settings you’ll want to visit before moving forward.
Email Communications: Update your email notifications preferences. If you don’t? Your inbox will be inundated with emails. Most of which won’t matter.
Privacy: Make your LinkedIn profile indexable by search engines. You’d be surprised who googles your name and finds you via search.
Who can see your email: If you’re getting spammed by new connections change this from 1st degree connections to only you. Or, let everyone see it to make it easier for them to contact you off LinkedIn.
Who can see your connections: Worried about competitors cherry picking your network to get leads? Change this setting to 'only you.'
Active status: The magical green dot that lets people know when you’re on LinkedIn. Turn it on to create more opportunity.
Targeting with the Money Client Matrix
It took me years of failure and success to learn what worked, what didn't, and more importantly WHY. When I figured it out I kept the answer under lock and key. I named it the "Money Client Matrix" because it was so effective at vetting potential clients during my own sales meetings. Now I'm giving it to you. Why? Because when you learn who to target on LinkedIn everybody wins.
The two axis
Targeting the right audience comes down to asking yourself two questions. Each question becomes an axis in a 2x2. Those two questions are:
- Can I get a laser-focused list in search?
- Is my service/product desirable to prospects?
Let's talk briefly about each question before getting into each quadrant.
Axis #1 – Segmentation (can I get a laser-focused list)
This line divides the left and right sides of the diagram. Can you use LinkedIn’s advanced search to create an outreach list made primarily of potential customers? Yes or no. Getting a laser focused list is critical because it means every person is worth talking to.
Axis #2 – Probability of Desire (do people want what you sell?)
This line divides the top and bottom sides of the diagram. Don't drink the company sales Kook-Aid. Put yourself in the shoes of the people you’ll be talking to. How desirable is your service or product? Be honest with yourself. Are your prospects excited about what you sell or not? The more desirable your product/service is the higher your conversion rates will be.
The Four Quadrants
Those two questions about your target audience produce four answers. Each answer is a quadrant in the Money Client Matrix. Let's talk about each one.
Can’t Segment – Low Desire
This is the top left quadrant – and the worst group to target. It means you cannot use LinkedIn to get a good outreach list and the people you’ll be speaking with don’t desire what you sell. Avoid this quadrant at all costs. You’ll waste a significant amount of time reading through irrelevant profiles and you’ll have to invest serious time into persuading your connections to make a purchase. Do everything you can to move out of this quadrant. Leaving this quadrant usually involves changing your target audience entirely.
Can Segment – Low Desire
This is the top right quadrant. You’ve been able to get a list made almost entirely of potential customers - which is significant. Having that list increases your efficiency because almost every person on your list is worth talking to. However, they don’t desire your service/product, and that means you’ll need to invest significantly more time and resources into convincing them to purchase. If you find yourself in this quadrant do everything you can to make your service/product more desirable. You may need to change how you present what you sell, create a new product, or introduce an appealing entry level loss leader.
Can’t Segment – High Desire
This is the bottom left quadrant. Here you cannot get a good list. Your reasons may vary but are often due to LinkedIn search limitations or unique requirements you have in order to make a sale – things you won't know without asking the company directly. On the plus side, you know there are some people on that list who really want to buy what you sell. If you find yourself in this quadrant try using Boolean in Sales Navigator to get a better list. If you cannot get a better list because of unique sales specifications or search limitations be aware that you’ll spend extra time reading through profiles that aren’t a good fit and having conversations with connections just to learn whether or not they meet your sales criteria. Both will dramatically decrease your time efficiency. If you can't get out of this quadrant make sure the service or product you're selling is high ticket to offset the extra time you'll spend vetting people on LinkedIn.
Can Segment – High Desire (LinkedIn Money Clients)
This is the bottom right quadrant and nicknamed "The Money Quadrant." It means you’ve been able to get a laser focused list using LinkedIn search. There's opportunity talking to each person on your list. And that group highly desires what you sell. They may not be at the end of the sales cycle when you first connect, but they value what you offer and it's a countdown until their purchase.