Skip to main content

Ad Exchange

Identify WHO to Market to

For any small business, it is important to determine precisely who you will be marketing your services or products to. An efficient business should not waste time or money trying to market to everyone.

You must choose a target market that is potentially the best prospect for your business.

There are many small business owners who will resist focusing on one primary group of clients. They feel that their business should be promoted to everyone. They are convinced that in order to grow their business, they need to market to more people.

In fact the opposite is true. By narrowing the focus to a specific group of customers, it is possible to become an expert in solving their specific problems. Familiarity with their needs allows development of additional products and services to serve them better.

You can decide who to market to by following these 5 tips:

1) Think about the type of people who can MOST benefit from what you have to offer.

2) Think about who you would most enjoy helping, or working with.

3) Think about the type of people who will be easiest to reach, AND who will be most receptive to what you are selling. These will be people who KNOW they have THE problem you can solve and are LOOKING for a solution.

4) Know that just because you select a particular group of people to focus your marketing on, does NOT mean you can't help others who may come to you. It only means you're going to focus your proactive marketing efforts on the target group you select.

5) Don't over-think it. Pick a group you feel you can really help and proceed with the development of your marketing plan. Marketing is a fluid process. The important thing is to start. You can always refine your audience and your plan later as you learn more.

Labels:

Comments

Post a Comment

Most Read This Week

How Can Criticism Actually Benefit Your Business?

For years, businesses have been told to avoid negative reviews at all costs. The common wisdom was that one negative review could undo the positive impact of dozens of glowing testimonials. However, recent research suggests that this might not be entirely true. In fact, a few negative reviews can actually be beneficial for your business. While it’s true that negative reviews can damage a business’s reputation, they can also provide valuable insights into customer experiences and areas for improvement. A study by the University of British Columbia found that negative reviews can actually be good for business. The study showed that low star ratings and negative comments from unsatisfied customers can have a significant impact on shoppers’ purchase decisions. Why Negative Reviews Can Be Helpful Authenticity: Consumers are becoming increasingly skeptical of businesses that only have positive reviews. A few negative reviews can make the positive ones seem more credible. Customer Insights: N...
Post a Comment
Read more

How to Craft Credible Predictions

The ability to make reliable and insightful predictions is a valuable skill in a world flooded with information. Whether you’re an analyst, a business leader, or simply someone who wants to understand the future, crafting credible predictions is essential. We can explore the key principles to guide you in creating forecasts that are not only informative but also impactful. Focus on Your Expertise: The foundation of a strong forecast lies in an in-depth understanding of your chosen domain. Avoid venturing into areas where you lack expertise. Instead, focus on your strengths and leverage your knowledge to generate predictions that are grounded in reality. Unravelling the Underlying Dynamics: A compelling forecast goes beyond simply stating what might happen. It delves into the “why” behind the prediction. Explain the causal relationships driving the phenomenon you’re forecasting. Use historical examples to illustrate your points and demonstrate how past events inform your current predict...
Post a Comment
Read more

Shining a Light on Unintended Consequences

In the fast-paced world of business and innovation, it's easy to get caught up in the excitement of new trends and practices. We're often focused on immediate benefits, overlooking the potential for unintended consequences.  But these hidden side effects can have significant impacts, both positive and negative. By analyzing trends and common practices, we can uncover these hidden implications and gain valuable insights. This ability to see beyond the surface is a hallmark of leadership. It demonstrates a keen understanding of complex systems and a willingness to question assumptions. Let's look at some real-world examples: New-customer campaigns:  A company might launch a campaign to attract a large number of new customers. While this can boost sales in the short term, it could also attract a customer base that the company is ill-equipped to serve, leading to dissatisfaction and churn. Social trend piggybacking:  Jumping on a popular social trend might seem like a good wa...
Post a Comment
Read more