Who is your market?

April 3, 2011 — 1 Comment

If you try to reach everyone you’ll reach no one.

(A business owner sent me a list of who their market was
and in response I sent this email)

One of the pillars of marketing is knowing your market.

As you pick your target market always be looking to narrow
your niche, that is, narrow down your market.

If you are selling items for children then narrow it down boys
or girls? Should it be children or the parents of those children?
What ages should you target? What nationality or race? What is
the income of the family they belong to?

Then ask why to all your answers…Why did I choose to focus on selling to boys?

Same with weddings. What type of wedding formal, casual, indoor,
outdoor, catered weddings, large or small? Should you be
connecting with wedding planners? or wedding venue owners?

Ask why to all your answers. Why should I focus on outdoor weddings?

Events: What kind of events?  What kind of parties?

Then ask why to all your answers

Do the same with youth groups, churches and businesses.

What type of businesses? Up to what size? manufacturers?
service? retail?… and each of those areas can be narrowed down.

Ask why to all your answers

Those who choose to narrow their niche will always outsell those
who go too wide. The heart surgeon makes more money than
the general surgeon and he tends to have a longer waiting list.

A narrow niche enables you to fine tune your message to them.
It is easier to write a sales message to doctors than to write to
everyone in the medical profession. It is easier to write to
dermatologists than to doctors in general.

To be effective in marketing you need to get the right message
to the right market using the right medium and method to
deliver that message to them. It is that simple.  (Medium or
method examples: newspaper, white papers, radio, direct mail,
internet, email, telephone, personal face to face visits. There are dozens of more ways.)

But it all starts with narrowing your market down. This will
give you clarity in your message and it will help you know where
to advertise and how to communicate with them.

Jeff

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One response to Who is your market?

  1. Dear Jeff
    Thanks for the article, it’s nice and meaningful, specially when media is so fragmented and the Return on investment so not sure it’s critical to know whom are you talking to and what’s their need. As that would help you define the Purpose of the product and that is “defining the end in the beginning”

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