I am sure you have heard about your “Target Market” before but many business owners decide what kind of business they are going to operate, whether it be products or services, and after they have hopefully done their Market Research, the numbers have justified their belief that their product or service is needed and will help solve their client’s problem.
But a lot of business owners actually haven’t defined who their Target Market is and sometimes that is very difficult until they determine who their ideal client is.
For instance, a real estate salesman who specializes in selling estates, wouldn’t have much difficulty determining that their ideal client is someone who has the money to buy.
I have had a business helping seniors live independently – I’m “sort of” the extended family member who steps in to help the senior. Originally, I was thinking of the seniors themselves – they would be my ideal client – but my “target market” was the children of seniors who didn’t live close to the senior or had a life full of home, family including children, a full time job, who already had a full plate and couldn’t always be available to their senior parents.
Once you have determined your target market, then you must decide how to market to them. Where do they hang out? How will you get your message to them directly? Decide on your search terms and start looking on the internet. This not only applys to a internet based business, but now that social media is thriving, you can search for local markets as well, such as that real estate salesman who is selling estates.
The largest and one of the most important strategies in your marketing efforts must be in defining your brand and getting your message to your target market or ideal clients. What makes you stand out? What is your expertise? How do you want your clients to perceive you and the products or services that you offer? How can you help your client solve their problem?
Your logo is a part of your brand but your message to prospective clients is much more important.
Clearly identifying your target market or ideal client along with developing a precise marketing strategy including your marketing message will, over time, bring great success to your business but it doesn’t happen overnight.
On the subject of your ideal client, would it be a Baby Boomer? In my next blog post, I will be revealing the results of a survey that was done recently on the needs, concerns and interests of Baby Boomers.
If you are still struggling to identify your target market, seek a mentor or a business coach who will be glad to help you.
Diane L. Coville