5 Tips for Hitting the Bullseye wth Defining Your Target Market
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For many business women pinpointing a target market can feel like looking for a needle in a haystack. In reality it’s right there in plain sight. Smack in the middle of “everyone”. Your target market is, of course, the bullseye. It is the smallest point but has the biggest payoff. Sure, you can aim wide and hope you’ll hit your target but you’ll find out quickly that is not a winning strategy. Practice and focus will have you hitting the mark consistently resulting in sweet rewards . Here are some tips to get you there as quickly as possible:
1) Pay attention to who you are attracting. When you are first starting out you may not be sure who your market or may overlook a market because you didn’t know there was a need. Don’t get so stuck in your vision that you miss opportunities.
2) After you have some clients under your belt, review what they have in common. This will provide more clues about who you are attracting. Write down everything you know about them and look for similarities.
3) Keep track of how they found you. If you’re doing a variety of marketing and most of your clients are coming from the same source make sure that is where you focus your efforts. Adjust as needed even if it means having to cut your losses in one area.
4) Once you think you know who your target market is go back for another defining round. When I’m working with a client it is rare that they can define their target market on the first, or even second or third pass. It takes many rounds of digging to get to it. And even then it will probably change.
5) Never, ever say “everyone” when describing your target market! It may be true that “everyone” can use your product or service but trying to market to everyone will cost you too much time and too much money. Plus, no one knows you’re talking about them when you say “everyone”.
Really getting clear on your target market can be a strenuous exercise. It is not easy and, if you are like me and lots of other entrepreneurs, you may find yourself fighting some fierce internal battles as you go against your natural instincts to not exclude anybody. But once you get over that hurdle and get clear in your marketing you will feel an increased level of confidence and you will be on your way!
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