10 Essential Criteria For Choosing Your Target Market

A specific group of people you will focus on selling your services to is your target market. This is not to be confused with the problem you will be solving for this group.

Why choose a target market? You need to decide exactly who your audience is before you sell your services. Deciding on your target market lays a critical foundation for your business. When you get clear about who your target market is, you will:

* know where to focus your selling and marketing efforts.

* know where to focus your research efforts. You want to intimately understand your market: the problems they have and the language they speak. The greater your level of understanding the more magnetic you will become.

Your target market will determine your income and success. Choose the wrong one and you will waste a lot of time and money with very little results.

Whatever target market -TM- you choose, check to see that it meets the following 10 essential criteria:

1. Your TM has a big problem. They think about it all the time, it keeps them awake at night.

2. Your TM wants the problem solved. The impact and cost of the problem is big enough that they will act to solve it (some people have problems they are quite happy to live with!).

3. You can easily find your TM. Do they belong to associations? Are there conferences for this target market? Are there publications? Where do they hangout? If it's not easy to find your target market, it will cost you a lot of money to find them.

4. Your TM has money to spend. No point having a terrific service if your target market hasn't the money to pay for it. I know this sounds basic but it's often overlooked.

5. Your TM has a history of paying to have this problem solved. You want to focus on a target market where there is a proven track record of problems and people paying to solve them. A good sign is if your competitors are selling similar services to the target market.

6. There's enough of your TM out there to sustain a business. How many people or businesses are in your target market? Realistically how many will become your clients and what will that be worth to you? Is that enough?

7. You enjoy working with your TM. Think about what types of people are in your target market and visualize being with them day in and day out. How does that feel? Will you feel energized or drained at the end of the day? Remember, you are also in business to enjoy yourself so make sure you will enjoy working with this target market.

8. You have a passion for helping and serving this TM. Passion is an essential ingredient for selling your services.

9. You have valuable expertise and experience you can offer. Your target market will want to buy from people who are experts in their field. Think about what specific expertise and experience you can offer your target market.

10. Your TM fits with your ultimate lifestyle package. What hours do you want to work? Where do you want to work? How do you want to work? Does this fit in with your target market? Ensure that working with your target market will enable you to live the kind of life you want to live.

Once you have found your target market, the next step is to refine it even further. Decide on the profile of your ideal client. What sort of person are they? Decide on their demographics and psychographics. Demographics are the basic facts like age, gender, income, location, etc. Psychographics are their characteristics, values etc. This will enable you to focus even more.

The clearer you are about who you want to do business with, the more you will attract exactly the clientele you're looking for. You will then need your Sales Conversation skills to convert them to clients.

(c) Tessa Stowe, Sales Conversation Pty Ltd. 2005

Tessa Stowe works with self employed professionals who are struggling to sell their Services. To learn more about this and to sign up for more FREE tips like these, visit her site at http://www.salesconversation.com

NOTE: You are welcome to "reprint" this article online as long as it remains complete and unaltered (including the "about the author" info at the end), and you send a copy of your reprint to tessa@salesconversation.com.

---

The Fine Art of Relationship Marketing

The buzzword these days is "relationship" marketing. Just what is... Read More

Top Five Tips for Marketing that Gets Results

When marketing your practice, as well as designing your brochure,... Read More

Tooting Your Own Horn

"If he who has a thing to sell Goes and... Read More

Avoid the Duds: 10 Strategies for Selecting The Perfect Speaker

Today, more than ever, the success of meetings relies heavily... Read More

Lead Generation: What Is It worth?

Our business environment has changed dramatically. Companies must now be... Read More

Notable News - Its Not About You!

You enjoy what you do. In fact, you love your... Read More

Do You Have This Important Tool in Your Marketing Arsenal?

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

Mail Can Make You Money

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

Why You Buy

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

11 Ways to Turnaround a Cash-Strapped Business or Practice

This past weekend I received a disturbing message from a... Read More

New Years Revolution

No, that's not a typo in the title. Resolutions are... Read More

How to Get the Right Clients and Avoid the Wrong Ones

If you are like most service professionals and small business... Read More

Image is Key to Your Marketing Success

In virtually any business first impressions are lasting impressions. Most... Read More

Direct Mail Personalization

A colleague who does work for a nonprofit organization contacted... Read More

Want To Be A Stronger Marketer? Work Your Marketing Muscles!

You want to be more flexible? You have to stretch... Read More

Sell Big Ticket Items Now! - 1 Simple Step To Keep Your Fears From Holding YOU Back

First, some background on today's topic. I've had a terrible... Read More

How to Turn Your Marketing Into a Money-Making Machine - Examples of solid Marketing

As Claude Hopkins presented in his Scientific Advertising many decades... Read More

What to Look for in Display Graphics and Trade Show Graphics

Display graphics are graphic images used for illustration or "display"... Read More

Helping Your Prospects Overcome ?Buying Fears? By Using Testimonials

You DO use direct marketing for your small business? right?... Read More

Your Marketing Message

Your message is first among your weapons in the battle... Read More

Telemarketers Dont Like Them? Heres An Idea For Ya!

Telemarketers... ooohhh... I'll bet we've all got a nice story... Read More

Postcards Work

What's the fastest, simplest and cheapest way to promote just... Read More

Most Wanted Response... How To Make It Work

"When I walked into the grocery store last Saturday, I... Read More

Do You Know Where Your Email Address is Today?

Having people go to your website is not always easy:... Read More

Create Free Internet Buzz with Your Workforce

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

Four Keys For Successful Foundation and Corporate Fundraising

Earlier in my career, I worked for a training and... Read More

Seven Common Marketing Problems Solved by Marketing Operations

Corporate marketing groups - especially bandwidth-challenged small-to-mid-sized departments - can... Read More

Judge Rules in Consultant?s Favor with 80-20 Rule

I opened the registered letter and was shocked. My best... Read More

How to Protect Yourself Against the Hidden Cost of Shipping to Trade Shows

Trade Shows are lots of work, but they can generate... Read More

Build Your Business Through Networking

Here's one of the most important success principles you'll ever... Read More

Is Your Marketing Working...

That is the question, you should be asking yourself. Many... Read More

For Ongoing Success, Make Marketing a Habit

Make Marketing a Must, Not a MaybeWhen business is booming,... Read More

Developing the Unique Selling Proposition

The "Unique Selling Proposition" advertising campaign was developed by Reeves... Read More