5 Factors to Look for When Choosing the Perfect Target Market
5 Factors to Look for When Choosing the Perfect Target MarketAuthor: Dean MercadoAs a marketing coach and consultant, one of the biggest and costliest mistakes that I see small businesses make time and time again is that they’re neck deep in their business and they still haven’t clearly defined their target market. They continue to try to be everything to everyone -- that’s just not realistic -- and unfortunately, that usually ends in them being nothing to no one. As one of my marketing mentors, Dan Kennedy says it, it’s critical that you “find your herd”. Your “herd”, or your “who” as I call it, being your ideal target market -- your perfect prospects and clients so to speak. It’s critical that you understand that that your “who” is more important than your “what”. In other words, it’s more important to be clear on who you’re serving than what you’re serving them with.
The “what” will most definitely change in one way, shape, or form over time as you target market’s wants and needs change. So how does one go about choosing the ideal target market for their business? Well here are my 5 factors to look for when choosing the perfect target market. 1. They’re Hungry! Your target market should already want or need what you offer and the more insatiable the appetite, the better! The key word here is “already”.
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