Defining your target market

A successful business has successful marketing; however there are several factors that you need to keep in mind. One of the major factors as to whether your business marketing will be successful, will in large part be determined by whether or not your know who your target market is and what they looking for. The bottom line is that if you want to be successful with your marketing, you will need to know as much as you can, about your target market.

The first steps to learning about your target market are referred to as profiling. Profiling your target market will help you to find out who they are and what they are looking for. There are the two main components that you will need to discover about your target market, in order to successfully market to them. When you know this information about your target market, you will be able to better serve your customers and improve your bottom line. Here is what you need to know about defining your target market-
- Know your target market-It is important to remember that everything you are doing is leading you to finding out who your target market really is. Some business owners make the mistake of thinking that they can be everything to everyone, so finding their target market really doesn't matter. This is a serious mistake. Few businesses will appeal to everyone in the market. If market with a "shotgun approach" and simply put your message out everywhere there is little chance that you will attract the customers that you need to. However, if you take the time to find the customers who are most likely to buy from you, and then structure your marketing to meet their needs, you are far more likely to be successful. Finding your target market and then positioning your business to meet their needs and wants, will be a far more effective marketing strategy. The best way to find your target market is by doing directed market research. This can be done in a variety of different ways.
- Know what they want-It is important to keep in mind that it is not enough to know who your target market is, but you must also know what they want. This means that you will need to get to know you potential and existing customers. You will have to understand how they came to your business and how they are best contacted, with your future marketing messages. There is a variety of different ways that you can do this as well. You use customer comment cards, surveys, questionnaires, direct mail offers and number of other ways, to gain information about your customers. It is important to remember that the in order to be successful with your marketing, you will need to act on the information that you get from your customers. Many business owners also take the time to regularly talk to their customers. They ask them directly what they like and don't like about their products and services. They offer samples of new products and get responses from their customers. You want to gain insight into their buying habits, preferences and even lifestyles, so that you can make the most efficient choices in where you will spend your marketing dollars.All of these methods can give further insight into your target market, and the best way to market to them.
- Know your competitors target market-It is just as important to know your competitions' target market. Every business has competition and you need to know what they are offering, (and not offering) their customers. This can give you further insight into your target market, and why they choose to buy from you.