Many times when I ask new clients to define their target market, they give broad answers.
"Women ages 35-55."
"People who buy organic food."
"Homeowners in my hometown."
These answers are a great start, but if you really want your marketing messages to resonate with your target market, you've got to drill down even deeper. You would be hard-pressed to convince me that the solution you are offering is a problem every single woman age 35 to 55 is experiencing. It's just not possible.
Here are eight questions that you can ask to help you narrow your target market and realize greater success in your marketing.
1. What geographic area do you want to serve? While the Internet opens the door to do business globally, it's helpful to focus on a defined geographic area to concentrate your advertising dollars.
2. What is the age and gender of your target market? This is important to know in order to understand where they are likely to hear your message. You are not likely to catch many pre-teens on Linked In.
3. What is the income bracket you'd like to target? In determining this, factor in the cost of your product or service and also look at competitors in your market to see if there's an underserved segment. For example, perhaps you offer a service that serves all income brackets equally. Perhaps you could add additional services to better cater to people with higher incomes.
4. What is their job description? At minimum, you need to know if they're working. If you know what they do, you will know when you're most likely to reach them with advertising.
5. What hobbies does your target market enjoy? Can you work them into your offerings? For example, if you're a financial advisor targeting people who enjoy camping, could you offer a seminar about making retirement savings last at a campground?
6. Who are your most profitable clients? Of course, you want more clients like them! Apply their profiles to define your target market.
7. Who are your happy clients? Identify your happy clients by determining who's talking about you and referring you to their friends.
8. Who are the people you like to work with? Yes, you do get to choose who you work with! And you certainly don't want to target people that you don't enjoy being around. What are some personality traits of clients you enjoy working with? Work these into your niche definition.
These eight questions are certainly not exhaustive, but they are enough to get you started. Once you have these defined, drill down even further by defining the mindset of your target market. Are they frustrated and seeking your solution? Are they even aware that they have a problem you can solve? Answering these questions will help your marketing messaging really resonate with your target market. Do you have additional questions you would add to this list? Please share them in the comments!
For assistance with defining and narrowing your target market, contact Rethink Marketing today for a free consultation.