Many entrepreneurs start out with a well defined target market. It allows them to launch their businesses successfully. With time, however, that target market may become a secondary thought as the business takes off. Adding a new service or product that customers seem to like becomes a common practice. Eventually, the target market becomes completely lost.
Having a well-defined target market is one of the most essential business growth strategies for any business. If you don’t have it defined, you are shooting in the dark when it comes to sales and marketing. That means you are only getting a fraction of the customers who should be seeing what you have to offer.
How can you define your perfect client?
The idea is to get as specific as possible. Start out by defining your perfect client’s demographics.
- Age (usually a 5 to 10 year range)
- Education level
- Employment situation
- Income level
- Homeowner or renter
- Married or not? How long married?
- Parent or not? How many kids? How old are the kids?
Once you have a good idea of your perfect client’s demographics, the next step is to identify what makes that person unique. It is important to look at multiple aspects including the following:
- Personality traits
- Attitudes on various aspects of life
- Personal beliefs
- Values the person holds
- Lifestyle choices and challenges
- Challenges in life
- Wants and desires
At this point you have a decent idea of who this person is. The next step is to put that person in context:
- Where does he or she live, in geographic terms?
- Where does this person work, again in geographic terms?
- Where does he or she go when online?
- Where does he or she shop?
The whole idea of defining the target market is to know how your products and services address some need, desire, want, or challenge in this person’s life. And the more detail you put into your ideal client description, the more effective it will be.
This target market information makes marketing and sales much easier. It also helps keep your business growth strategies focused.
If you find that your target market has become a second thought in your business, now is the time to stop and take action. Re-establish who your ideal client is. It will make all your 2015 business decisions much easier.