Target market definition can be the key to success in your marketing, or the thorn in your side as a marketer. For most people I work with its the latter. Over the last few years working in the home business niche, teaching home business owners how to generate leads by building a personal brand online, I’ve watched target market definition function as a major roadblock.
Its usually disregarded all together, or becomes a major marketing hang up paralyzing business owners and condemning them to a life of market research, and planning. Today…lets simplify it together, so you can successfully market and reach an audience hungry for what you have to offer.
What Is A Target Market…
Simply put your target market is your ideal customer. The person you most want to do business with usually because you can best serve them, while enjoying the process. Yes enjoyment pays a role. Let’s face it there are certain people we don’t like to or just don’t want to do business with. Our job as marketers is to provide a solutions for people often in the form of valuable information and ultimately in the form of our product, service, or opportunity. Who are you passionate about providing a solution for? If this question is tough to answer, or you immediately think “whoever wants to buy.” The you should definitely watch today’s video.
Target Market Analysis Paralysis….Don’t Do This!…
There are two major mistakes I see marketers make when trying to define their target market.
First they get all general and wishy washy. I hear home business owners say things like…my target market is “people who want financial freedom” or “people who want to achieve their dreams.” My response; think of a teenage man who dreams of playing professional baseball, and a middle age woman who dreams of traveling the world and speeding the word of God. You can’t possibly be positioning yourself to solve both of their problems. Maybe this is an extreme example, but its important that you understand how a seemingly sound target market definition can be so off base.
The second is to suffer from analysis paralysis. Overthinking this can hold you and your business back big time. Target market definition isn’t something that needs months of research and planning. Even more important fear of getting it wrong is your biggest enemy. All things change and evolve, its likely your target market will do the same.
A Few Target Market Examples…
Who are you excited to serve? Often times, but not always its people like you. Is it stay at home moms? People looking to eat healthier? Business owners looking fort guidance? Baby boomers looking for a plan B? Whatever you do, choose a target market and go with it, and make sure to do so for the right reasons (which of course you’ll learn when you watch the video below).
When your marketing message is in sync and all things align, it not only produces better results, but it makes life and business a heck of a lot easier, and whether or not it changes over time, the starting point for all successful marketing is target market definition.
VIDEO: How To Define Your Target Market
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