Defining Your Target Market
Defining Your Target Market
By Anthony Mora
Copyright© Anthony Mora 2006
Once you have defined and written your message, it's important to define your target market. Who is your audience? If you've developed a new anti-wrinkle cream and are marketing it to teenage boys, you'd better take another look at your strategy. You may have the best product in the world, but if you've picked the wrong target audience, it's not going to work. Believe me, this isn't an uncommon mistake; more businesses than you think have done everything right and gone belly up because their targeting was off. This is an essential component of success. Know your prospective clientele. And don't let your ego or your preconceived ideas get in the way. If you have developed a product that you want to market to CEO’s who earn over $750,000.00 per year, but your real market is junior high school students, you'd better learn that and learn it quickly.
For example, early on in my career I worked with a dentist who had written a book on various aspects of dentistry. The book was well done and contained information that would have been of interest to other in his field, but it was not a mass market book. The dentist was dead set on marketing his book to the general public, whereas his true market was a specialized niche market - other dentists. His perception of his target market was askew. He erroneously believed that because he found the information in his book fascinating, that everyone else would as well. He basically had two choices, stay with his approach and target a narrowly defined market, or broaden his scope and by doing so broaden his market.
It’s an important decision every business owner needs to make. Be realistic about your business and your target market. Not every product or service has a huge market, but you don’t need huge, you need a realistic, well-defined market. If you can define your target market and effectively reach your customers or prospects, you're in business.
For further information, visit:
www.Anthonymora.com
Defining Your Target Market - To learn more about this author, visit Anthony Mora's Website.
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Defining Your Target Market
By Anthony Mora
Copyright© Anthony Mora 2006
Once you have defined and written your message, it's important to define your target market. Who is your audience? If you've developed a new anti-wrinkle cream and are marketing it to teenage boys, you'd better take another look at your strategy. You may have the best product in the world, but if you've picked the wrong target audience, it's not going to work. Believe me, this isn't an uncommon mistake; more businesses than you think have done everything right and gone belly up because their targeting was off. This is an essential component of success. Know your prospective clientele. And don't let your ego or your preconceived ideas get in the way. If you have developed a product that you want to market to CEO’s who earn over $750,000.00 per year, but your real market is junior high school students, you'd better learn that and learn it quickly.
For example, early on in my career I worked with a dentist who had written a book on various aspects of dentistry. The book was well done and contained information that would have been of interest to other in his field, but it was not a mass market book. The dentist was dead set on marketing his book to the general public, whereas his true market was a specialized niche market - other dentists. His perception of his target market was askew. He erroneously believed that because he found the information in his book fascinating, that everyone else would as well. He basically had two choices, stay with his approach and target a narrowly defined market, or broaden his scope and by doing so broaden his market.
It’s an important decision every business owner needs to make. Be realistic about your business and your target market. Not every product or service has a huge market, but you don’t need huge, you need a realistic, well-defined market. If you can define your target market and effectively reach your customers or prospects, you're in business.
For further information, visit:
www.Anthonymora.com
Defining Your Target Market - To learn more about this author, visit Anthony Mora's Website.
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