To be successful, you need to define your target market. If you are able to define and understand your target market clearly, then you'll be able to pinpoint your marketing efforts.
As a small business owner, you need to step into the shoes of your target group – talk their language, find answers to their problems and make sure that they offer them useful products or services. Marketing to one or two specific groups doesn't mean that you don't have to make an effort to sell to other groups. You just need to use the right methods to define who is included in your main target market.
Demographic Analysis
As a business owner, you need to know some measurable statistics about your target market like their occupation, age and income. Only when you know this information will you be able to offer them the right kind of services and products.
Market Psychographics
This includes the lifestyle of your target market; for example, whether they are golfers, condo owners or musicians.
Your Interests
Do you find it an enjoyable experience working with a particular group? Is it fascinating or boring? If you are not satisfied marketing toward a specific market, then there is no point in wasting your money and energy on it.
Your Connection with Your Target Market
You need to ask yourself – are you a part of the market yourself? If no, then have you been a part of it in the past? If you have your family or friends in that group then it may be easy for you to take the right steps.
You need to understand the problems faced by your market and how they can be solved with your business products. It is essential to know the websites, newspapers and organizations that your group prefers.
Defining your target market is easy. You just need to have the right direction and focus.
