What do you need to know when you’re trying to find or define a target market?
Narrow Your Focus
A lot of new entrepreneurs want to try to do far too much, or sell something to everyone, and they don’t want to define or narrowly define a specific target market. But the trick is, when you define a really, really clear target market, you know who to sell to. You can create a sales or call list.
A Quick Example
For example, if I’m selling videos to people online and I know that I’m only selling
- A certain kind of business
- That does a certain kind of thing
- That has a certain number of people
- That makes a certain amount of money
Then I can go out on LinkedIn or elsewhere online and a list of people to call or form a marketing campaign to hit a certain group in a way that they respond very well
It’s a Big Group
Usually, your new, narrowly targeted list is really not so narrow. You’re not reviewing ten potential businesses, you’re usually going to target thousands of businesses. But now that you know who they are, you have a multi-thousand business target list. You can get on the phone with those people and know exactly what to say, exactly how to say it, exactly who to say it to, exactly how they’re going to react, and your sales will be so much easier.
Who Ya Gonna Call?
But if you just have a broad focus and you’re just trying to do everything for everyone, or you’re trying to sell a particular service or product to everyone, who are you going to call? Who are you going to sell it to? You don’t know, and there’s no way to put together a list.
Specificity is Key!
So the trick is, be very, very, very specific, as specific as you can. Narrow that list down, and instead of cutting off sales channels you’re actually opening sales channels.
One other important thing to remember; you don’t have to say no to people that come in for other kinds of work, if you want the work. But if you’re marketing to everyone, you’re really marketing to no one.