Target Your Market

Your market is not everybody, as so many small businesses assume. It is the people/organizations who need, want, have the money--and the willingness--to pay for what you are offering. Identifying them can be complicated and expensive, or it can be relatively painless and cheap.

How much do you need to know about them? Enough to have all the clues on how to reach them, and what to say, when you do. Finding your target is vital, so whatever method you choose, do it properly and test your assumptions.

Research

The best place to start is with what you already know. What does your company know about its clients? Do you already have a perfect client--the one you wish you had more of? Examine their demographics. Who are they, where are they, what are they spending, what are they earning, how many employees do they have? And any other information that may help you build a clear picture.

Now, identify what need your product or service is fulfilling. Who needs your product or service the most? What industry are they in? Where are they located and how can you reach them?

Further Research

Once you have exhausted your internal research, go further. Interview potential prospects. Ask questions that deal with the benefits you bring: Is there a need? Is there awareness of your type of offering? Try to identify any unfulfilled needs: price, service or other benefits. See if there are any weaknesses in the competition. If all those you survey are happy with their present supplier, you should ask yourself if is this the right target.

If you are targeting specific industries, read their trade magazines and investigate their associations. Associations often publish directories with statistics concerning their members. These can be found in your local library. Boards of trade put out listings of their members, divided into services provided.

Business directories are invaluable. They list businesses geographically and according to industry sector. They also give you the products offered, the number of employees, sales figures and the principles involved.

Armed with this information, you can survey a number of these potential targets to confirm they are in need of your benefits. Remember, these are not sales calls. Ask for 5 minutes of their time, and ask only non-sales questions. Simply gather data and thank them for their time. Resist pitching yourself.

You now have an idea of who your target is and where they are, but what are they thinking? How much do they know and what do they need to know? This brings you to the world of Psychographics.

Psychographics don't come from Jo Jo the Psychic reading your target's mind (although, it would be nice). They relate to how your target thinks about certain issues, and the way they do business. Much of this information comes from studying your potential targets. Put yourself in their shoes. Talk their language, think their thoughts, feel their emotions, respond to their cues. To catch a fish you have to think like a fish.

If this all sounds daunting, you may want to hire a research company. This can be expensive, but if you don't have the skills, time or the inclination to do it yourself, it's perfect. Any research company worth its salt can identify your target down to the colour of their underwear (if they wear any).

The tighter your focus, the more effective your materials can be.

All your prospects have different levels of awareness of your type of product/ service. Using Capstone's Awareness Scale?, divide your potential prospects into three groups:

1. Those who are unaware of the existence or the benefits of your type of product/ service. This is the Educational Target.

2. Those who are aware but unsure or unconvinced. This is the Doubter Target.

3. Those who are convinced and buying. This is the Differentiation Target.

Once you define your ideal prospect, you're set. This perfect buyer falls in the middle of a bell curve of prospects with similar wants and needs. The positioning and communication strategies and tactics you develop to sell this prospect will apply to most of your prospects.

Keith Thirgood, Creative Director

Capstone Communications Group

Helping businesses get more business through innovative marketing

http://www.capstonecomm.com/

Markham, Ontario, Canada 905-472-2330

Subscribe to Thrive-on-line http://list.capstonecomm.com/ma il.cgi?f=list&l=thrive_on_line

---

Mail Can Make You Money

Are you still waiting for business to turn around before... Read More

Networking: The Cost of a Connection

"Networking is a waste of time," said JoAnne, owner of... Read More

Networking Events ? Lose the Fear and Gain the Benefits

"Kevin, are you saying I need to go to Networking... Read More

4 Steps To Increase Your Job Sign Marketing

It's no secret that using a job site sign can... Read More

Mortgage Broker Marketing - Sell Problems, Not Solutions

Are your marketing messages to Realtors® guilty of these promises?-... Read More

Want to Increase Your Business? First You Need to Understand where You are at!

Are you having trouble understanding basic situational marekting concepts? Then... Read More

Do You Have This Important Tool in Your Marketing Arsenal?

Many business owners do not understand the authenticity and validation... Read More

Are You Losing Business?

As a small business owner, you are grateful for all... Read More

Good Vibes/ Bad Vibes

Have you ever walked into a store or business and... Read More

To Be Successful Sell to Wants not Needs

My mother used to tell me, tongue in cheek, that... Read More

Digital Printing vs. Press Printing ? A Comparison Guide

When it comes time to print your brand identity materials,... Read More

Why You Buy

Behavioral economics is a new science that sheds light on... Read More

Whats In It For Me?

Sometimes, one of the most difficult things to teach beginning... Read More

Help! What Happened?

Let's be honest, when you're writing sales material for a... Read More

Business Postcard Marketing: 35 Ways to Use It

Postcards are an effective way for many business owners and... Read More

Take My Commitment (to Your Biz) Quiz!

Starting and managing a successful small business takes time, energy,... Read More

Mortgage Marketing - How to Earn More Business From Realtors®

Is your marketing strategy getting the results you desire?Mailing postcards,... Read More

The Dare-To-Be-Different In Marketing Checklist

There is a big payoff in being different. When you... Read More

Good Marketing is Like a Bad Habit

You know those bad habits we get. Like raiding the... Read More

Developing A Focused Marketing Strategy

You want all of your marketing messages to have a... Read More

The Fundraising Letter PS: 25 Powerful Things To Say There (Includes Examples & Samples)

Donors read postscripts. This is a sad but important reality... Read More

Whats Your Marketing Attitude?

Entrepreneurs pay a lot of attention to the mechanics of... Read More

Website Marketing: 10 Uncommon Bonuses That Will Help Make Your Product Hotly In Demand

Giving away free bonuses is an important website marketing secret... Read More

Direct Mail Strategy - Brand Identity Guru

1. Know your purpose: What do you want your direct... Read More

The Real Path To Big Bucks On The Internet!

"Instead Of Wasting Time Trying To Hit The Lottery Of... Read More

Distinguish Your Business From The Competition

You followed time-honored online marketing techniques to the letter: you... Read More

Sleigh Bells Ring...And Cash Registers, Too

During the holidays, folks everywhere shop many long hours to... Read More

Five New 5 Ps!

NO! When I say "5 P's", I'm not talking about... Read More

Work Backward And Make More Sales!

It goes against the grain, especially for those of us... Read More

Take the Test: Do Your Marketing Materials Really Grab Attention?

Today's constant bombardment of marketing messages means your materials must... Read More

Business Cards That do the Business

A business card makes a statement about who you are... Read More

You Must Get Going If You Want To Get Growing

For many of service-based businesses out there, it's not that... Read More

Create Free Internet Buzz with Your Workforce

There are many different ways to increase your traffic on... Read More