In last month’s newsletter we discussed “How to work a Room”. This month we’ll discuss defining your “Target Market”, because if you show up to “work a room” with a great “Elevator Pitch” and the people have no need for your service, then you are wasting your time!!!!
In the last few years I have seen hard-earned money wasted because the owner of the business did not take the time to analyze who is their “Target Market”.
Imagine practicing hockey with your eyes closed or throwing a football with a blindfold. In both cases, being prevented from seeing your target would make it nearly impossible to hit it. This concept can easily be applied to business.
Doing business without defining your “Target Market” handicaps you and will prevent you from reaching your objectives, increasing your sales, and growing your market share.
FloodLight Tip of the Month – “Top 10 questions to ask of your Market”
To define your target market you need to answer all the questions below:
1. Who is your Ideal Customer?
2. What are the solutions that your ideal customer is looking for?
3. What kinds of information does your ideal customer need?
4. What message would your ideal customer be likely to respond to?
5. How many exposures to your information does your ideal customer need?
6 Where is your ideal customer likely to be? (hang out, read, listen, watch)
7. What kind of relationship would your ideal customer like with you?
8. What kind of relationship would you like with your ideal customer?
9. What is the best way to communicate and learn from your ideal customer?
10. When is your relationship with your ideal customer likely to be win-win-win?
The above questions can be very easy to answer or very complicated, depending on your product or service. Once you have answered all the above you will be well on your way to marketing success.
In the last few years I have seen hard-earned money wasted because the owner of the business did not take the time to analyze who is their “Target Market”.
Imagine practicing hockey with your eyes closed or throwing a football with a blindfold. In both cases, being prevented from seeing your target would make it nearly impossible to hit it. This concept can easily be applied to business.
Doing business without defining your “Target Market” handicaps you and will prevent you from reaching your objectives, increasing your sales, and growing your market share.
FloodLight Tip of the Month – “Top 10 questions to ask of your Market”
To define your target market you need to answer all the questions below:
1. Who is your Ideal Customer?
2. What are the solutions that your ideal customer is looking for?
3. What kinds of information does your ideal customer need?
4. What message would your ideal customer be likely to respond to?
5. How many exposures to your information does your ideal customer need?
6 Where is your ideal customer likely to be? (hang out, read, listen, watch)
7. What kind of relationship would your ideal customer like with you?
8. What kind of relationship would you like with your ideal customer?
9. What is the best way to communicate and learn from your ideal customer?
10. When is your relationship with your ideal customer likely to be win-win-win?
The above questions can be very easy to answer or very complicated, depending on your product or service. Once you have answered all the above you will be well on your way to marketing success.
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If you need help defining your Target Market Click here!!
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Donald Robichaud
President
FloodLight Consulting
250-768-9415
http://www.floodlightconsulting.com/
http://donaldrobichaud.blogspot.com/
President
FloodLight Consulting
250-768-9415
http://www.floodlightconsulting.com/
http://donaldrobichaud.blogspot.com/
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Donald Robichaud - FloodLight Consulting Marketing Coach Kelowna - Sales Coach Kelowna - Branding Coach Kelowna - Online Internet Business Coach - Search Engine Positioning - SEO
