How to define your target market (and get inside their heads)
Marketing your business without a properly defined target market is like driving blindfolded. You might get lucky and coast along for a while, though chances are you won’t get very far.
Designing a marketing campaign to target ‘anyone’ or ‘everyone’ is a sure way to waste your marketing dollars, because everyone and anyone can be found anywhere, which often equates to ‘nowhere’.
Defining your target market helps you to focus your marketing efforts on the most profitable segment/s of your market: the people who are most likely to buy from you. This strategic approach not only saves you time, money and effort, it also helps you understand your potential customer better and personalise your marketing material to generate more sales.
Here are some tips for defining your target market and getting inside their heads.
Look at your current customer base
One of the easiest ways to identify your target market is to look at who is already spending their money with you. Look at the characteristics and interests of your past and current customers, especially those who bring you in the most business. Can you see any commonalities or patterns?
"One of the easiest ways to identify your target market is to look at who is already spending their money with you. "
From this you can create a customer profile. People who match this profile will likely be interested in and benefit from your products or services. They are the ones you should target.
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Look at the benefits your products and services provide
Another way to identify your target market is to write a list of all the benefits your products and services provide and what problems these benefits solve. Then make a list of the specific people who need those benefits or have those problems.
These are the people you want to target with your marketing. Well, them and other businesses that will have them before and after you.
Getting inside the mind of your customer
To really personalise your marketing material and sales approach you need to get into the mind of your customer. These 20 questions will help you understand your customer a little better and, more importantly, help you determine where you should be marketing and advertising.
- What are your target market’s needs?
- What challenges does your target market face?
- What does your target market want most?
- What really frustrates and annoys your target market?
- What worries your target market and keeps them up at night?
- Who does your target market look up to and want to be like?
- Where does your target market hang out?
- Who does your target market hang out with?
- What groups or associations does your target market belong to?
- What events, seminars or trade shows does your target market attend?
- Where does your target market network?
- What does your target market do in their spare time?
- What magazines, small business blogs, newspapers and trade publications do they read?
- What radio, television or YouTube channels do your target market listen to and watch?
- What influencers do your target market listen to? Who do they follow on social media?
- What is your target market looking for from your product or service?
- What are your target market’s frustrations with your industry?
- What are the common objections your target market has about your products or services?
- What price would they be able and willing to pay for your services?
- Is your target market more focused on price or value?
Do you have any tips for defining your target market and making your marketing more targeted?