Four Steps in Target Marketing Strategies – Not Everyone is a Target
Not everyone is a target even your products or service can benefit everyone. I did make a mistake once, targeting the wrong people. I guess that I neither understood their interest nor I spoke their language. I had lots of resistance from the wrong market segment. There is nothing more important than understanding your target market.
Target marketing is breaking the market into segments and then concentrating your marketing efforts on one or a few key segments.
My Personal Story as a Solo Entrepreneur
I am a mom. I thought that I might attract moms because I understood their woes, their desire and hope to work from home. But, I couldn’t attract them because there are lots of resistance. When I learned about attraction marketing and re-evaluated my target marketing strategies. I found out that I needed to change my target market. Once the market segment was fixed, I began to attract the right people.
If you know your market, you can tailor your target marketing strategies to meet their expectation and to provide a solution for them. Target marketing is a part of attraction marketing strategies. With target marketing strategies, you can attract potential customers and clients to any kind of products or service. If you are a solo entrepreneur, you should use target marketing strategies, getting more customers by targeting less people. You are different from corporate business. You can build relationship with your potential customers more intimately, on a personal level. Your solution can be personalized to match with their expectation exactly.
Four Steps in Target Marketing Strategies for Solo Entrepreneurs
1. Who are your target market?
Ask yourself, “What types of people who might be interested in my products or service.” Look at your life, identify what types of people who become your friends and who are most drawn to you. Pay attention at whom you are attracting and people whom you are comfortable to talk with. Are they willing to pay for your products or service? Are they looking for solutions? Your market segment may not be too small. It means that you don’t have enough customers if your target market is too small. How many people in certain market segment are searching for the solution that you offer?
2. Know everything about your target market/prospects.
Write it down everything about your prospect: what is their age range, what they like, what are their interests, what is their problem/concern. The more you understand the need of your target market, you can speak their language and you can have empathy for them. Put yourself in their shoes: what are they thinking and what are their worries. You must know them well – their needs, hopes, desires and pain/fear.
3. Provide solutions to their need.
Many solo entrepreneurs highlight general benefits of their products or service. You must tailor the specific benefits to match with their problem or needs. Your attraction marketing strategies work when you are able to provide personalized solution to their need.
4. Identify the competition
When you choose your target market, look at the competition as well. Look for under-served market. Identify your competitors. Study and do the research what are their strength and weaknesses. Try to find a way how you can be different from them. Give the reasons why people should choose you over your competitors.
Target marketing is the first step in attraction marketing strategies, to identify people, the market segment that you want to attract. You are able to define your target market by applying four steps in target marketing strategies. Whatever you write on your blog, on Facebook or on your sales letter, the focus is about them. Solo entrepreneurs can reap benefits from targeting the right people.