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Target Market Selection is a Major Key to Internet Marketing Business Success

Written by: Scott Hubbard

Article Overview: I work everyday with corporate professionals who are looking to leave their jobs and get into the internet marketing industry. Their first question is, “How do I get started?” The next question is, “How do I get prospects coming to me?” Some have already started their marketing campaign. But they are getting little response. So here is the first question you need to ask yourself. “What group of people are you marketing to? Have you made a target market selection?”

Target Market Selection is a Major Key to Internet Marketing Business Success

I work everyday with corporate professionals who are looking to leave their jobs and get into the internet marketing industry. Their first question is, “How do I get started?” The next question is, “How do I get prospects coming to me?”

Some have already started their marketing campaign. But they are getting little response.

So here is the first question you need to ask yourself. “What group of people are you marketing to? Have you made a target market selection?”

I was recently coaching a representative in a skin care business. I asked her who her target market was. She told me that everyone was her prospect. Everyone has skin.

I broke the news to her that by following that approach, she would probably never have much success. She needed to significantly reduce the size of the market she was targeting.

Why not go after a large market (all people with skin)? After all, there are many people in the market. Surely, you could find many who are interested in what you have to offer.

But it doesn’t work that way. For one thing, you must stand out in a crowd. If you are going after a huge market, you will find it very competitive. How will your prospect even find you? Just google “skin care products” and see how many pieces of marketing are out there – in the millions. You don’t have a chance.

Here is a second major point. If you are addressing a large market, how do you know what they are looking for?

You may have the best skin care line on the planet. Unfortunately, most people have absolutely no interest in your products.

Some may have an interest. But why in the world should they buy from you? Your ad is just like thousands of ads out there.

Your potential customer wants to find someone who understands her skin problem and can give her solutions.

For example, there are many target or niche markets that fall under the overall skin care product umbrella. Listed below are 3 smaller markets. For best results, these should be broken down into much smaller markets.

1. This market has tried many skin care products that have failed to provide the results they are looking for.
2. This market consists of people who have a specific skin condition. They are looking for someone who understands their situation and can solve their problem.
3. This market consists of baby boomers. They are looking for products that can solve their aging skin problem. How do you stand out from all the other anti-aging skin products that are being promoted on the internet?

Obviously, you need to make a narrow target market selection in order to be successful. You must take an educational approach to your marketing – never promotional

What are we trying to accomplish here?

First, by determining a small niche market that has a strong need for your products, you will find far less competition.

Second, you must determine exactly what your market is looking for.

What are their concerns?

What are their needs?

What are their problems?

What are their fears?

What keeps them up at night?

What are their dreams?

Then you must solve their problems and answer their questions. This must come across in your marketing.

How do you determine the problems your market needs to have solved?

You need to get on forums, blogs, and message boards. Find out what questions are going unanswered. Google the keywords related to your market. Determine what issues are not being addressed.

A great way to learn the needs of your potential customer is to ask them directly what problems they need to have solved.

In order to be successful, you must know exactly what your prospect wants and needs. If you address these wants and needs through educational marketing, you will attract them.

Your marketing must be directed at the problems of your target market. When they check you out, they see that you have the solutions they are seeking. A woman who is struggling has just met someone who understands her problem and can help her. Chances are you just made a sale.

Most likely, you will have several target markets during your career. My suggestion is to list 5-10 potential markets. Then do your research. Don’t take shortcuts.

As you do your target market selection, look for the desires of your market. Look for missing products. Look for trends and popular movements. Then choose one target market. Address these desires, these products, or these trends.

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Referred by: http://jaykubassek.com



Related Forum Posts
Re: How should i promote a new website? - ignore this message IF it's already been stated. I haven't had a chance to read all the replies and i have to jet from the office... I suggest marketing where ever your Target Market congregates. If it's a forum of concerned parents - go there. Strike up a deal with the forum owner (JV) and have him promote it to the list of members (Integration Marketing). If you want to go with Forums then i would partner with a parent who is a frequent poster/moderator on a particular Target Market Forum and have him/her add your link to their signature. That was just a thought but it's not as intense once you get buy in from the Forum owner or high ranked poster/moderator. Hope that sparks some new ideas.
War Time clothing niche - Dan, interesting niche. Can you share some of your lessons learned in the following areas: 1. Marketing (Target market? and how you reach them) 2. Do you dropship or stock the products yourself? 3. How do you encourage repeat sales by your current customers? We don't get too many people in the Internet Business share these experiences. Your timing with the niche seems appropriate with war on everyones mind in the States. Do you find that during the last few years you've been getting more hits?
Re: Fashion - Nana, At you choice you may choose to research the fashion industry a bit more. There is obviously a Business side to it as well as a creative side to it. Find out all the types of roles that exist in the industry. Some that come to mind merchandiser, Window dresser, floor plan organizer (someone needs to determine the layout of a retail store to best sell the goods), fashion consultant (Yorkdale mall has fashion consultants that take you around and tell you what looks great on you - you also get a cut from the sales). This is what I've observed from the business side, you may know more. All these roles I've written about will help you grow as a business person and make the contacts in the industry...possible stepping stones. But further more you'll also notice that you need to develop some business acumen possibly tailored to the fashion industry. When I was at Ryerson I knew I wanted to be an entrepreneur someday too. I knew I needed some basic business courses to get a foundation to build from. I was in a Tech/Business Major (I'm sure Fashion has something similar - Fashion/Business Major) and then started to create my own minor. Here are some of the courses I took: Marketing, Law, Entrepreneurial, Management, consulting.. and a few more . Also, I'm sure that within the Fashion Major there are also courses you have to take where you can use your creative side and create designs. Typically within a Major there are focuses you can choose - ask the program coordinator. Your next step is to do some research. 1. Visit Commercial retail outlets like H&M, Banana Republic, or jacob. Tell the Manager your doing some research for University and would like to know what types of Corporate roles exist aside from the roles on the retail floor (like sales associates). If she asks you to elaborate then you can use some of the roles I mentioned above. 2. With this information in hand you can visit the Ryerson Fashion department and inquire with the Program Coordinator on what focus within the Fashion Degree would help you the most. In my program there were 5 different focuses within the Tech/Business program. Just a quick aside. A good friend of mine too has a dream of fashion. he want to create a niche fashion line tailored to skinny men (I can't mention the style). He's in Business school but not in the Fashion program... He's in International Business but all his Minor courses are tailored to running a successful business ... similar to the ones I mentioned above for myself. I have no doubt in my mind he'll make it 'cos his vision is that strong.
Re: How many mambers of this forum are also member of WF? - Hi Kevin, I have to agree with Tanny. All forums are unique in their own way, but doesn't mean that one is better than the other. What you might get out of one forum, you may not get from another. For instance, the WF focuses on Internet Marketing, while this forum focuses on Entrepreneurship. Each has their own set of benefits. I don't think you can really compare one to the other, unless of course they focused on the same topic. I have learned a lot from this forum, stuff I would never have gotten from the WF. With that being said, I've learned a lot from the WF, specifically since I need to know about Internet Marketing and running an online business. The addition of the Online Business forum here will help, and Jeff is doing a great job as moderator.
Re: Fill in the blank: The best decision I ever made with my bus - Focusing on my Internet Marketing Business


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