Every sales team and entrepreneur need to know their customer. But how do you find a target market and what exactly is it anyway? Hopefully, these articles can help you identify your target market. If you see anything that you’d like to discuss further, give us a shout on 02392 007 823 or firstname.lastname@example.org. We’d be happy to help.
“Given the current state of the economy, having a well-defined target market is more important than ever. No one can afford to target everyone. Small businesses can effectively compete with large companies by targeting a niche market.
Many businesses say they target “anyone interested in my services.” Some say they target small-business owners, homeowners, or stay-at-home moms. All of these targets are too general.
Targeting a specific market does not mean that you are excluding people who do not fit your criteria. Rather, target marketing allows you to focus your marketing dollars and brand message on a specific market that is more likely to buy from you than other markets. This is a much more affordable, efficient, and effective way to reach potential clients and generate business.”
“By defining your niche, you’re also forced to really understand every detail about your business offering (product or service), which includes its benefits and unique features, who can benefit from the product offering and what sets you apart from your competitors,” says Mjadu.
“Once you know this, you should have a far better idea of who it is you are trying to sell to, which will allow you to be far more selective in your approach.”
“A target market is a group of customers for which your products and services are aimed. It’s usually first defined by an industry.
For example, if you’ve created a B2B Software product that helps remote construction teams, you’d probably focus on other companies within the construction industry. After all, that’s who you designed the product offering around.”