What Do You Know About Your Target Market
Every other week I go to my trainer. After working out about 6 times by myself before I see her, she always adjusts my form. My problem is that although she shows me the correct way to do the exercise I always fall back on the easiest way. You get little benefit from an exercise if you aren’t doing it correctly.
Similarly in business if you don’t market your business in a way that connects to your target market, you get fewer clients. Just because you market to one group however doesn’t mean you have to turn away business from another group. Your product or service may be appropriate for many groups, but your marketing will be more effective if you market directly to one group at a time (your target market). To be happy at work you will want to choose the right target market. Here are 10 questions to ask yourself when you are choosing your target market.
- What are the demographics of my market? What are the measurable statistics that I know about my market such as age, income, or occupation?
- What are the psychographics of my market? What are the lifestyle preferences of my market? Are they all music lovers, golfers, or condo owners?
- Is this a group I enjoy working with and/or find fascinating? If I must spend a lot of time with this group, will I be bored or repelled by it?
- Do I have a special connection to this market so I really understand it? Am I part of the market myself or have I been part of it in the past? Do I have family and friends that are part of it?
- What are the professional organizations, clubs, or activities that my target market frequents? I want to be able to find my market and talk to them directly. Do I know where to go?
- What newspapers, magazines or websites does my market enjoy? If I want to stay in touch with the market ongoing then I need to know what this group is reading or doing.
- Do I understand the problems that my market faces? Will my product or service solve a problem for them?
- Do I know the language that this market uses? Knowing the vocabulary of my market gives me more credibility.
- Do I know what attracts this group? How do I let this group know about my product or service? What will get their attention?
- Do I know who influences this group? Who are the people respected by this group? What are they advocating, and can I align my product or service in some way with them?
Having trouble identifying your target market? It helps to have someone to bounce your ideas off of. Family and friends can help but probably have a preference of their own which may or not be your preference. A coach will remain neutral and by asking you good questions, like the ones above, let you identify one market that really resonates with you. Interested in talking? Call me at 781-598-0388 or email me at asparker@asparker.com for a no obligation free call to discuss the possibility of becoming a client.
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