Who is your target market? If you answer this question with “everyone”, you have 2 choices at this point. One, close your business and go work on your resume. Two, keep reading and we’ll work through this together.
But why? Why do you need target marketing?
Targeting keeps you from wasting your time and energy, and often cash money, spinning your wheels trying to attract the wrong customer base in the wrong damn places. Targeting determines who your dream customers are so that you can focus your marketing efforts on finding them where they play, attracting them, and keeping them.
The first step to establishing a business or marketing plan is to determine who you’re selling to; your target or high value market. There are two articles that I refer clients to when they’re ready to sit down and discover who their ideal customers really are.
One is How to Define Your Target Market by Mandy Porta. It was featured on Inc.comin 2010 and is still very relevant as it gets down to business quickly about identifying and defining your target market. The other is a little gem I recently discovered on ThriveHive.comand breaks down the questions to ask yourself that will help you determine who your target customers are: What to Know About Your Target Marketby Zach Bunik.
In order to form a foundation for establishing your customer base, you, the business owner must first answer the following questions:
- Who is your current customer/follower base?
- Who are your competitors customers/followers?
- What is the value that your product or service offers? What problem do you solve?
These two articles go on with additional questions for you to answer and research to dive in deeper to really get to know your market and where to find them. However, I encourage you to reach to me for a 1-on-1 consultation for you and/or your team. Targeting isn’t easy but with the right professional assistance, it can be a breeze.
More important, it can be very rewarding.