Do You Want an Easier Sale? Target Your Market!
There are three parts to creating a marketing message that delivers new customers. The first is getting clear on who your target market is. (We will get to how you solve their problem and the message in subsequent articles.)
Let’s look at a Real Estate Agent as an example. They may be able to sell commercial and residential real estate. And they could sell to anyone. But as they communicate their message many people won’t hear it because when they hear “Real Estate Agent” they have a concept of what that is. The rest sounds like Charlie Brown’s mother “Wah, Wah, Wah Wah, Wah.”
Now when the agent gets very clear on who they can serve the best. The clients that best fit with their talents, skills and personality, now they can create connections. For example, “I help millennials find the Loft of their Dreams in downtown Denver.”
The fist step is to identify who qualifies for your target market. There are four things to look at:
- They have a need, want and or desire for your service or product.
- They have the budget for it.
- They have the decision-making authority
- They have access to you and your business
First look at your product or service. What need, want or desire does your product fulfill? What does your product cost? Who can afford it who will be willing to pay for it? Who tends to make this buying decision?
Did you answer the questions?
Do you have a better sense?
Demographics also play a role in developing your target market. Who does my product cater to in terms of Age, Income, Generation, Occupation, Education, Is ethnicity important?
Then there are the Psychographics. These tap into the beliefs and emotions of your target buyers. What is their lifestyle, who do they listen to, what do they read? What is their motivation are they leaders or followers? What values and beliefs do they hold? Will they be supportive of the environment or do they care? What are their hobbies?
Now that you have this information you can begin to describe your target client your ideal client. As an example, it might be something like:
“My target customer is a senior manager in a health system who has risen through the ranks to her position. She has earned her degree through night-school and now that the kids are out of the house, she is ready to move up to the next level of management a Director role. She wants her team and organization to thrive.”
Now for the research. Does this target customer exist, and do they want what you are selling?
You can research this through a variety of ways. Beginning with the resources at the library. A librarian can point you to the resources to see where this demographic exists. Are they in the zip codes you serve? If not do you want to adjust your target or move your location? You can also buy research.
Then there is primary research. That is, you out in the environment where your buyer is hanging out. What are they doing? How are they spending their time? What do you notice about them?
Then there are surveys. If you have a list, you can survey the market to see what their preferences are. If you have a website, you can have some tracking analytics to help you identify who is finding you and what their characteristics are.
Another method might be a focus group. Here you gather likely buyers and interview them about the offering, their motivations, what they like and don’t like.
Once you have done the research that you can determine, is there a market? How does the market want to interact with my product or service? Is the market large enough to support my dreams?
Now you know who they are and what they want. In our next conversation we will explore how we can uniquely solve their problems so that we are the choice for their business.
If you would like help identifying how you can identify your target market or if you are interested in my 45 minute break through challenge (we will find $10K – $50K perhaps $100K in 45 minutes or less.) Contact me at CALENDLY LINK
Image Courtesy pf Cliff from Arlington, Virginia, USA [CC BY 2.0 (https://creativecommons.org/licenses/by/2.0)]