I came across a story I think explains this concept very well. There are two hunters; one has a shotgun, the other a rifle. Some ducks fly overhead and the hunter with the shotgun jumps up and shoots wildly at the whole bunch. He thinks since he has a shotgun he should be able to hit one of the ducks. But he did not wait until he saw the ducks, and he shot too soon. He completely misses the whole bunch, and the ducks veer off towards the hunter with the rifle.
The hunter with the rifle stands quietly watching the ducks fly overhead. He sets his sight on the biggest, fattest duck in his scope, holds his breath and fires. He does not miss, and he gets to eat roast duck for supper that night, while the hunter with the shotgun goes hungry.
You can think of your marketing the same way. There is an old marketing saying: "Target everyone and you target no one". If you simply fire wildly at the whole market using a shot-gun effect, you are liable to miss everyone. However, if you research your target market and take aim at it with carefully thought-out marketing strategies, you are liable to hit your target again and again.
Does it make more sense to you to fire wildly at the whole bunch or to take careful aim, one shot at a time? Yes, your target is smaller, but every shot is going to count! Which means, the chances of hitting your target are that much greater.
So how do you go about defining your target market? You could start by asking questions. Brainstorm. Talk to friends, family, neighbors. Are they interested in your product or service? Would they buy it? Why or why not? You need to know who your best target is. Get down to the bare-bone details. You want to know them well.
If your business has a consumer target market, you will want to know:
• Are they women, men or both?
• How much money do they earn?
• What do they do for a living?
• What level of education do they have?
• How do they spend their extra cash
• Are they married, single, divorced?
• Do they have children?
• What kind of lifestyle do they lead?
• What are their attitudes and beliefs?
• What are their interests?
If your target market is business to business, you will want to know:
• Type of industry
• Annual sales
• Number of employees
• Their location
• Who makes the decisions
Once you have finished, you should have a good idea who your target market is. You might even want to go one step further and write a statement defining your ideal target market client.
Here is an example for a weight loss product. “Our typical client is a young, married mother in her late twenties to mid-thirties looking to lose post-pregnancy weight.”
Finding your target market will help you identify marketing strategies that will work, and it will focus your marketing message because you will know exactly who you are talking to.
Until next time…
Have a great day,
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