I am always amazed by businesses who don’t seem to know who their target market is. These are the primary people who are most likely to buy your products and/or services. It is one of the first things you must identify before you can do any type of marketing.
Why is it important to know who is most likely to buy from you? Well, you can’t find them to sell to, if you don’t know who they are.
Your Target Market Q&A
1. Gender – Are your products for male, female or both?
2. Age – You just need a range. For example, if you are selling wedding products, the age range is probably 23 to 33, for the most part. If you are selling orthopedic shoes, then probably an age range of 60+.
3. Income – For example, are you selling luxury products? Then you need to target buyers in the higher income range.
4. Business or End User – Are you selling products a business or profession wants or for personal use? Maybe you have a product aimed at teachers, or in my case, small business owners. Maybe you sell art which you think is mostly for the home, but businesses look for art for their offices as well.
5. Primary Buyer – Is the buyer of the product not the user? For example, if you sell baby products, obviously you are selling to the parents, not the baby.
6. Location – Is this a product only of interest to someone in a certain city or country? For example, you have a product with the Union Jack flag on it. Would someone outside of the U.K. still be interested?
7. Needs – What are the current needs of your target market? Is it someone who is getting married, having a baby, starting a business, going to college, buying a new home, etc.
There are other factors you can consider as well, depending on what you sell, such as your target market’s style (traditional, modern, etc.), ethnicity, education level and so forth.
Once you have identified your primary target market, go back over this list and identify possible secondary markets. For example, my primary target market is small business owners, but I have actually had marketing students buy my ebooks. A secondary market can be the gift giver, an event planner, a fashion stylist, a daycare provider, etc. – basically, WHO could benefit from your products?
Once you have identified your primary and secondary target markets, now you have to go and find where they are and what makes them buy. I always recommend asking friends, family and colleagues who fit the description of your target market. It should NOT be guess work.
FINAL WORD: It is impossible to market your business effectively if you do not know who you are selling to. Make that your first priority to determine who wants your products and/or services, and everything else should work around that.
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