Who is it that makes up the specific group of people or businesses that you serve? For example, your target market might be first-time parents over age 35 or massage therapists or financial advisors. In an earlier post, we defined your ideal client – those individuals who energize and inspire you. Your ideal clients are a small subset of the target market you choose to serve. Your target market is the demographics of the group you’re most passionate about serving. It’s just as important to identify the right target market as it is to identify the ideal clients.
Often, service professionals are struggling because either they’ve chosen a target market that isn’t specific enough or they’ve chosen a target market based on what they think is the most logical and most lucrative choice, rather than one that is aligned with who they are passionate about serving. The three primary reasons to choose a target market are:
- It helps you to determine where to find potential clients who are looking for what you have to offer. This allows you to concentrate your marketing efforts and offerings accordingly.
- Virtually every target market already has some kind of network of communication established. It could be an association, social networking site, publication, etc. which allows your clients to spread your messages for you – increasing your marketing effectiveness.
- Finally, choosing a target market lets the people in that market know that you’ve dedicated your life’s work to them.
Posted by Deb Bercume and Sherry Dutra, Small Business, Transition and Leadership Coaches