Target Marketing DefinitionYour target marketing definition sets the tone for your entire marketing approach...so let’s get it done right. :)
Your niche needs to be small enough
In down-to-earth terms, your target marketing definition is simply the specific kind of clients you want to work with. The easiest way to start defining your target market is to take a clean sheet of paper and draw a vertical line down the center, creating two columns. On the top of the left hand column, write 'internal characteristics.' Internal characteristics are basically personality traits, personal values, motivation levels, and so on that a person has. In that left hand column, start writing the personality traits of your desired target client. Your list might look like this: - they are nice and friendly - they take my advice and are grateful for it - I like them - they are easy to work with - they are happy to pay my fees
Internal characteristics are valuable
You do want to like them, right? Internal characteristics are traits that you will only be able to figure out once you're talking with a prospect, so we need another set of characteristics that will be helpful from a marketing perspective. On the top of the right hand column, write 'external characteristics.'
External characteristics are
In other words, they can be identified 'from the outside.' The external characteristics that are most helpful when you create your target marketing definition include, for example, what the person does for a living, whether they are male or female, what hobbies they enjoy, and so on. These are the characteristics that will allow you to locate and reach your potential clients with your marketing.
As you start exploring, make sure that the people in the target marketing definition you consider actually recognize that they are part of that target market. For example, if you choose a target market that is defined as ‘divorced women’, you can be sure that the people who make up that target market know that they are divorced women! In addition, they probably also know other people just like them (who are your target market as well). Even better, make sure they emotionally relate and connect to being part of that target market in some way. Again, divorced women typically have some feelings about being divorced women, whether positive or negative. On the other hand, if you consider a target marketing definition that you have defined as ‘high net worth individuals’, you can be assured that few people actually label themselves that way, and they certainly don’t emotionally relate to that label, either. In addition, make sure you choose a target market that you identify with and connect with in some way. The higher your own level of connection, experience, or interest in your target market, the higher your credibility and your own satisfaction level. You will also want to know how many people are in that target market. Even though it may seem the more people in a target market the better, in reality that is not always true. Most small business owners have a limited amount of time, money, and energy to invest in their marketing. In marketing, it typically takes repeated exposure to your services for a potential client to decide to do business with you. If your target market has a million people in it, do you have the budget and the time to repeatedly reach one million people with your marketing? Depends on the marketing activities you choose. However, you probably could consistently reach 5,000-6,000 potential clients within your target market once you gain momentum in your business. Depending on the number of clients you need for your business to be profitable, this number of prospects could be plenty. It is time to get started choosing your target market!
Return from Target Marketing Definition to Marketing Niche
|
