Selecting Your Target Market


Creating a successful business begins with knowing who your ideal client is and then crafting your services and marketing message so that it resonates with your ideal client.
Many Solopreneurs resist being specific with who they choose to do business with. Believing that the larger the net the more clients they can capture. Reality is because they are not targeted with their message it does not resonate with their ideal client.
The only way to attract your ideal clients to your business is first creating a crystal clear picture of who they are?
Geographic. Decide if your business is going to do business on a local, regional, national or international level. Identify the geographic region where your market is located. Identify specific boundaries within which you will do business.
Demographic. Potential clients can be identified by criteria such as age, race, religion, gender, income level, family size, occupation, education level and marital status. Choose those characteristics of your demographic target market that relates to the interest, need and ability of the client to purchase your product or service.
Psychographic. Many solopreneurs offer products based on the attitudes, beliefs and emotions of their target market. The desire for status, enhanced appearance, more money, health and wellness, love and peace of mind are examples of psychographic variables. They are the factors that influence your customers’ purchasing decision. A seller of dating services would appeal to an individual’s desire to be loved.
Behavioristic. Products and services are purchased for a variety of reasons. Solopreneurs must determine what those reasons are, such as: brand, loyalty, cost, how frequently and at what time of year customers in a segment use and consume products. It’s important to understand the buying habits and patterns of your clients. Consumers do not rush and buy the first car they see, or the first sofa they sit on. A Fortune 500 company doesn’t typically make quick purchasing decisions. You want to be certain that your product or services are a good match for the behavior of your ideal client.
Solopreneurs make the mistake of trying to be everything to everyone. The more specific you are the better results you will achieve. Your marketing message will be more targeted and connect with your potential clients. You cannot be everything to everyone with any success.
Being specific and targeted does not mean you will not do business with others outside of your target market. Of course, you will. The point is to be more attractive to your target market. Your clients will in turn refer you others inside and outside your target market. Once you have a full practice within your target market you can then use your reputation to move into new markets.
Your target market is the group of people you service. When choosing your target market it is recommended that you make that choice based on who you are passionate about serving.
An example may be that you are passionate about working with the legal industry. If in fact you stay that broad, you will not have the success you wish. When you think about the problems your target market may have, a judge within the legal industry will have different problems than an attorney that does litigation work. Narrow your focus and you will be more successful at solving the problems of your ideal clients.

If you continue to struggle with identifying your ideal market you may be interested in the group coaching program that provides a lot of one on one as well as group support.  At the end of this proven Roadmap to Business Growth you will have a solid marketing foundation as well as specific marketing activities that attract your ideal clients. Learn more…

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