So who are your clients or patients exactly? What makes them tick? What do they value most? What products and services are they looking for that aren’t being offered anywhere else? Finding answers to these questions is essential to the success of your business. Because without a clear idea of who your customers are, your marketing efforts and media outlets will be hit and miss at best–more likely miss.
You can’t produce great results if you’re targeting the wrong people!
That’s why it’s imperative you take time to define your target market. The more you know about your current clients and prospects, the better able you’ll be to tailor your marketing messages to them, advertise your message in the right places–and design a custom solution for their problems.
Even if you already know a lot about your market, it’s worth spending some extra time on this step. Markets change. They evolve. Maybe there is another market segment out there that is a better fit for what you offer.
Let’s get started.
So what IS a target market exactly?
In the broadest sense, your market is made up of all the people who would be interested in using your service or buying your product. However, this huge group of people is most likely far too broad to be considered your target market. You can’t be everything to everybody. But within this large pool of prospects, there will be groups of people who share some common characteristics. In order to define your target market, you need to identify your ideal customer’s or patient’s common traits.
Start by thinking about the features and benefits your product/service offers. Let’s say you sell a range of organic skin-care products, for example. Because your products contain no harsh chemicals, they won’t irritate sensitive skin or leach toxins into the body. Your skin-care products are also environmentally friendly.
Now write out a list of each feature and benefit your product/service offers, such as:
Feature #1: Organic ingredients
Benefit #1: Won’t irritate skin or cause toxicity
Feature #2: Moisturizing properties
Benefit #2: Keeps skin looking young and fresh
Feature #3: Contains no chemicals?
Benefit #3: Won’t harm the environment
Now look at your list of features and benefits and ask yourself what kind of people are looking for these features in a skin-care product?
This article will be continued in next week’s Marketing Minute. Stay tuned…