by: Braidyn Browning
Defining your target market is vital to the survival of your sales strategy and overall brand. Promoting a business or service to an undefined audience is comparable to swinging at a piñata while blindfolded. You may luck out once or twice and make contact here or there… but ultimately, you’re going to be waiting for the next guy to come along and finish the job for you.
So...Do you want to keep swinging away in hopes of eventually achieving success or do you want to pursue the specific individuals and customers who actually want and need your service.
Specifying your target market is the first step toward formulating your own success. Listed below are six simple steps to defining and outlining your target market.
Step 1: Research:
Take a look at who your competitors are targeting. Is this business that you are missing out on? Could your product or service offer more to those clients than what they are currently getting from your competition? Why are your competitors targeting that specific group of people? Do you think there is a better target audience out there that they should be pursuing?
Step 2: Self Analysis:
Every product or service should be unique in its own way. What makes yours unique? What do you have to offer to clients that they can’t get anywhere else? Why would clients come to you over the competitors they are already seeking service from?
What about your current clients? Why are they loyal to you? What qualities do your current clients share? Are they seeking your services for the same reason?
Step 3: Define the detailed characteristics of your target market:
- Personality traits
- Specific questions such as:
- What TV shows would your buyer watch?
- What is their preferred social media channel?
- What attire do they regularly wear?
Step 4: Reflection:
Analyze your decision on your target market. Rethink every aspect of your business and product/service. Have you chosen a target market that will truly benefit you? If not, start the process over. The success will come once you have truly found your niche.
Step 5: Follow Through:
Moving forward, be sure that every function of your business is geared toward your target market. No wasted efforts.
If followed, these steps will lead you down a path of growth for your business. Now that your target market has been defined, understand the importance of consistency in the future. Clients will remain loyal to business who make them feel understood and cared for. Remaining loyal and dependable is the best way to ensure rapid growth and success for your company.