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Not everyone is a target even your products or service can benefit everyone. I did make a mistake once, targeting the wrong people. I guess that I neither understood their interest nor I spoke their language. I had lots of resistance from the wrong market segment. There is nothing more important than understanding your target market.
Target marketing is breaking the market into segments and then concentrating your marketing efforts on one or a few key segments.
My Personal Story as a Solo Entrepreneur
I am a mom. I thought that I might attract moms because I understood their woes, their desire and hope to work from home. But, I couldn’t attract them because there are lots of resistance. When I learned about attraction marketing and re-evaluated my target marketing strategies. I found out that I needed to change my target market. Once the market segment was fixed, I began to attract the right people.
If you know your market, you can tailor your target marketing strategies to meet their expectation and to provide a solution for them. Target marketing is a part of attraction marketing strategies. With target marketing strategies, you can attract potential customers and clients to any kind of products or service. If you are a solo entrepreneur, you should use target marketing strategies, getting more customers by targeting less people. You are different from corporate business. You can build relationship with your potential customers more intimately, on a personal level. Your solution can be personalized to match with their expectation exactly.
Four Steps in Target Marketing Strategies for Solo Entrepreneurs
1. Who are your target market?
Ask yourself, “What types of people who might be interested in my products or service.” Look at your life, identify what types of people who become your friends and who are most drawn to you. Pay attention at whom you are attracting and people whom you are comfortable to talk with. Are they willing to pay for your products or service? Are they looking for solutions? Your market segment may not be too small. It means that you don’t have enough customers if your target market is too small. How many people in certain market segment are searching for the solution that you offer?
2. Know everything about your target market/prospects.
Write it down everything about your prospect: what is their age range, what they like, what are their interests, what is their problem/concern. The more you understand the need of your target market, you can speak their language and you can have empathy for them. Put yourself in their shoes: what are they thinking and what are their worries. You must know them well – their needs, hopes, desires and pain/fear.
3. Provide solutions to their need.
Many solo entrepreneurs highlight general benefits of their products or service. You must tailor the specific benefits to match with their problem or needs. Your attraction marketing strategies work when you are able to provide personalized solution to their need.
4. Identify the competition
When you choose your target market, look at the competition as well. Look for under-served market. Identify your competitors. Study and do the research what are their strength and weaknesses. Try to find a way how you can be different from them. Give the reasons why people should choose you over your competitors.
Target marketing is the first step in attraction marketing strategies, to identify people, the market segment that you want to attract. You are able to define your target market by applying four steps in target marketing strategies. Whatever you write on your blog, on Facebook or on your sales letter, the focus is about them. Solo entrepreneurs can reap benefits from targeting the right people.
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| Filed Under: attraction marketing Tagged with attraction marketing strategies, Solo Entrepreneur, target marketing |
I have never tested it, but I have a feeling that the majority of small business owner are male. I see it in most meetings, webinars, various entrepreneurship groups in Facebook, etc.
Still there are some very successful business mothers out there, so I wouldn’t give up on them
Hezi´s last [type] ..Online Business Budget Ideas
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Viviana Reply:
January 28th, 2012 at 5:04 pm
Thank you Hezi. Yes, everyone can succeed if they have a drive to success. However, I prefer market segment as I can be more focused. I notice that I can’t attract everyone either. So, I just devote my energy for market segment that I can possibly attract.
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Hi Viviana,
These are all important points to pay attention to when deciding on the target market. It’s easy to want to aim for everyone but that doesn’t work. It works so much better to have a target to aim for!
Thanks!
Stacy
Stacy´s last [type] ..A Letter to the Nervous Blogger Want-to-Be
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Hi Viviana, how right you are. It is all about brainstorming. As you say you can chop it all down into segments and go and market to the precise needs of each segment.
It sure is a lot easier than going for the whole piece of the pie.
Best
Jayne
Jayne Kopp´s last [type] ..Law of Attraction in My Life – Pretty Cool to Positively Putrid!
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Great points, Viviana! Trying to please everyone means you’ll end up pleasing no one. Narrow your focus, however, and viola! you can bag a lot of good customers. Though I know this, I appreciate you for reminding me of the value of this in my marketing efforts. Good day!
Srinivas Reddy | Insanely Productive´s last [type] ..Insanely Productive
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Viviana Reply:
January 28th, 2012 at 4:59 pm
Thank you Srinivas, it seems that you know well this subject. Yes, narrowcasting is better than broadcasting.
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This is interesting. Thanks Viviana! kx
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Viviana Reply:
January 28th, 2012 at 4:51 pm
Thanks Kiki for stopping by and leaving a comment.
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Great points and I am glad to see you bring up the subject of target markets. I see so many business people resist this idea, believing that they can “help everyone.” While this is true, it is difficult to market to “everyone.” In fact, even mega-businesses like McDonalds know who their ideal market is and how to best reach that market. This understanding is the key to effective marketing and getting the most bang for your buck.
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Viviana Reply:
January 28th, 2012 at 5:37 pm
Thank you Lesa for sharing your opinion. Right, if mega businesses do it, why not us, the solo business owners.
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It’s also a good idea to find out where they hang out. If you’re able to help out with tips related to your marketplace you’ll find people are much more willing to purchase from someone who has already shown a willingness to help out.
Warren@Internet Marketing´s last [type] ..Important Points about PR Consultancy
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Viviana Reply:
January 28th, 2012 at 5:17 pm
Thank you Warren for input, yes know where to market is important too.
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Hi Viviana,
Everyone is different and have different needs, there is no product or service that everyone will like and buy so it’s very important to know exactly what is your target group and what they want from your products / services thanks for sharing these 4 steps…
Kostas@Online Opportunities´s last [type] ..The Benefits of Hiring a Virtual Assistant
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Viviana Reply:
January 28th, 2012 at 5:08 pm
Hi Kostas, thank you for sharing your opinion too.
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Viviana great post. Very simple strategies but without them you will struggle to have a successful business.
It’s a shame more people don’t spend more time understanding who they’re target audience is, they would find it so much easier if they followed these great steps:)
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Viviana Reply:
January 28th, 2012 at 5:40 pm
Hi Lilach, thank you for your comment. Yes, the first step that people often don’t pay attention, target market. I’m late but it’s better to re-evaluate again once I feel something not working.
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Hi Viviana,
You are so right. It is just insanity to think tht you can be everything to everybody. It doesnt work that way.
People would be less frustrated when they take your tips to heart and implement them.
Good tips!
Tosin
Tosin | Home-based business coach´s last [type] ..How to Increase the Retention Rate in Your MLM Team
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Viviana Reply:
January 28th, 2012 at 5:42 pm
Thank you Tosin, sometimes we need re-evaluate again our business. I should have thought target market in the first place.
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I agree.
The key to online marketing success (for an individual) is to make a very narrow segment of target market very, VERY happy.
Since we don’t have a time or money to market to everybody.
Thanks for the reminder , Viviana
best
Akos
Akos Fintor´s last [type] ..The Truth About Blog Commenting and Being REAL
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Viviana Reply:
February 2nd, 2012 at 5:36 pm
Hi Akos, thank you for your opinion. You’re right, narrowing the target is better for saving cost and time.
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