Identifying your Target Market
What is 'target marketing'?
Creating a customized marketing mix to reach a specific target market
To help identify your target
market start, by asking yourself these two equally important questions.
Question 1: Who are your Customers?
Question 2: Who buys your Products?
You would be amazed to find
out how many small business owners do not have a concise answer to these
questions. A huge mistake many business owners make is trying to be "everything
to everyone." You have to decide who you are targeting, what are
the characteristics of your customers? What are their spending habits?
What commonality brings your customers together?
Most times your prospective customers don't know about your company. It
is your job, now that you know who your best customers are, to 'target'
them - don't shy away from competition, welcome it. Many don't realize
that competition means your idea is working. Now what are you going to
do make your business stand out and be different?
By zeroing in on your target
customer you will have a better chance of success. Remember you can't
be everything to everyone but when you do find your target audience, this
is your chance to be an expert in your field!