Target Market

 

In the last few years I have seen hard-earned money wasted because the owner of the business did not take the time to analyze who their “Target Market” was.

Imagine practicing hockey with your eyes closed or throwing a football with a blindfold. In both cases, being prevented from seeing your target would make it nearly impossible to hit it. This concept can easily be applied to business.

Doing business without defining your “Target Market” handicaps you and will prevent you from reaching your objectives, increasing your sales or growing your market share.

To define your target market you need to answer all the questions below:

1. Who is your Ideal Customer?
2. What are the solutions your ideal customer is looking for?
3. What kinds of information does your ideal customer need?
4. What message would your ideal customer be likely to respond to?
5. How many exposures to your information does your ideal customer need?
6. Where is your ideal customer likely to be? (hang out, read, listen, watch)
7. What kind of relationship would your ideal customer like with you?
8. What kind of relationship would you like with your ideal customer?
9. What is the best way to communicate with and learn from your ideal customer?
10. When is your relationship with your ideal customer likely to be win-win-win?

The above questions can be very easy to answer or very complicated, depending on your product or service.
Once you have answered all the above questions you will be well on your way to marketing success.

Without knowing the answer to every question you will be adrift in the sea of marketing without a rudder, spending money that will never deliver results.

Know your Target Market and “Build Your Business”.

Donald Robichaud
President FloodLight Consulting
Kelowna, Canada
250-768-9415
http://www.floodlight.ca/
http://donaldrobichaud.blogspot.com/