Who is the best fit for your business? Who is most likely to buy from you? And buy from you again? And refer you? This is your Target Market and if you don’t know them inside and out, your Marketing isn’t as effective as it could be.
Who is your Target Market?
Your Target Market is the segment of the population who truly values what you offer; they are loyal customers, they leave Yelp reviews and they refer others to you. They are a pleasure to work with and often the most profitable. Can you name ten clients who fit this description?
How well do you know your Target Market?
If you describe your Target Market as “all women“, “anyone who _____ (fill in the blank) (check out “Anyone Who is Not Your Target Market) or even “couples over 30 who own a home” you have some work to do. Your Target Audience are clones of your best clients and you should know your them as well as you know your best friend.
Here is an example of a Target Market description:
“Women in their 50’s who are married, have 1-2 children who are grown, she owns her home, is college educated and works in finance. She enjoys bicycling, hiking, and swimming. She’s passionate about eating healthy, loves to cook, shops at Whole Foods and also grows some of her own food. She vacations in her RV traveling across the U.S with her husband. She’s active in her community, volunteering at the local food bank as often as she can. She’s very active on Facebook and Pinterest but also has a professional profile in LinkedIn. And she gets all her news and information online, mostly from Facebook, but also the New York Times, Travel websites, Google, and the Huffington Post.”
How do you learn about your Target Market?
The easiest way is to be friendly; start conversations and show an interest in them (without interviewing and seeming like you’re prying). But the best way is to hire someone, like a Marketing Consultant to conduct client interviews. A professional Marketing Consultant knows what questions to ask and how to ask them to get the most useful and relevant information. They can also analyze the data to develop a Target Market Profile that will help you make smarter marketing decisions, attract higher value clients and increase profits.