Growth and quality of life

¨ Average Annual Household Income of $172,526

¨ Average Household Net Worth of $1,392,765

¨ Current Population of 26,100; projected maximum build-out population of 30,160

¨ Median resident age: 36.7 years

¨ 2007 average home sales price: $616,711

¨ Primarily served by Southlake Carroll ISD with 7,900 students

¨ Some areas served by Grapevine-Colleyville ISD, Keller ISD and Northwest ISD

Points of Interest

¨ Home to well-known Southlake Town Square

¨ Annually ranked highly by D Magazine as a great DFW suburb

¨ Southlake’s sales rate is 8.25%

¨ Major employers: Sabre Holdings, Southlake Carroll ISD, Tri-Dal Ltd.  and Verizon

Important websites

City: www.ci.southlake.tx.us

Chamber: www.southlakechamber.com

School: www.southlakecarroll.edu

Source: numerous sources

This well known principle holds that 80 percent of your outcomes come from 20 percent of your inputs.  In practice, the concept of focusing on a few options that provide the greatest benefit is applied to management (defects, staff, project management, etc.), economics (wealth distribution), information architecture and marketing. 

Here are questions to ask yourself as a small business owner / operator or marketing professional.

1. Which key (20 percent) customers and key products or product lines generate 80 percent of your revenue?
2. Which few sales staff or employees are responsible for the majority of your revenue?
3. When you’re seeking new customers, do 20 percent of those also generate 80 percent of your new revenue?
4. Which 20 percent of your customers or products generate 80 percent of your complaints?
5. When it comes to marketing,  are you focusing roughly 80 percent of your time and energy on the 20 percent of your work that’s really important?

 Growth and quality of life

¨ 2007 Money Magazine Top 100 Best Places to Live

¨ Average Household Income of $108,000

¨ Current Population of 38,400;  40 percent growth since 2000

¨ Median resident age: 34.6 years

¨ Primarily served by Keller ISD, Keller’s largest employer serving over 28,000 students 

Points of Interest

¨ Unique mixed use development called Keller ArtHouse within Town Center

¨ Focus on developing extensive hike and bike trail system

¨ Implemented half cent sales tax for park development

¨ Economic Development Board meets monthly

¨ Historic Old Town Keller

¨ Other major employers are Corning Cable Systems and Southstar Logistics 

Important websites

City: www.cityofkeller.com

Chamber: www.kellerchamber.com

School: www.kellerisd.net 

Source: numerous sources

Essential Steps and Important Questions to Answer

1. Who are you targeting and why?
    Generally your target will be new customers or existing customers.  Furthermore, you’re likely to be driven by a need to introduce new products/services or focus on a new competitor who’s entered the market.

2. What are your specific goals?
    Your goals, whether to increase awareness or to increase sales, must be measurable.  Examples are a gaining a certain number of new customers, enlarging mailing list by a certain percentage, or increasing sales by a certain sales amount during your slowest month.

3. What steps are needed to carry out the campaign?
    Your timetable should focus on activities such as establishing appropriate promotional methods for reaching your target market, testing your message, conducting training, setting a realistic budget, preparing for additional calls and purchasing inventory.

4. Finally, how will you measure if your campaign has been successful? 
    Refer to your goals, use on-going tracking and write down what you’ve learned about customers, costs and competition for the next campaign.