As a marketing coach and consultant, one of the biggest and costliest mistakes that I see small businesses make time and time again is that they’re neck deep in their business and they still haven’t clearly defined their target market. They continue to try to be everything to everyone — that’s just not realistic — and unfortunately, that usually ends in them being nothing to no one.

As one of my marketing mentors, Dan Kennedy says it, it’s critical that you “find your herd”. Your “herd”, or your “who” as I call it, being your ideal target market — your perfect prospects and clients so to speak.

It’s critical that you understand that that your “who” is more important than your “what”. In other words, it’s more important to be clear on who you’re serving than what you’re serving them with. The “what” will most definitely change in one way, shape, or form over time as you target market’s wants and needs change.

So how does one go about choosing the ideal target market for their business?

Well here are my 5 factors to look for when choosing the perfect target market.

1. They’re Hungry!

Your target market should already want or need what you offer and the more insatiable the appetite, the better!

The key word here is “already”. If they don’t already want nor need what you offer, it will ultimately cost you much more in marketing dollars to educate them on what it is you do offer and why they should buy it now.

2. They’ve Got Cash!

Simply put, it doesn’t matter how hungry your target market is. If they can’t afford to buy what you’re selling, they may not be a good target market for you – you simply can’t draw blood from a stone.

However, there’s always the possibility of finding someone else who can afford you on their behalf. In other words, look for others who have the cash that would stand to benefit from your shared target market having access to what you offer and market your idea to them.

3. They’re Easily Reachable!

The harder it is to get in front of your target market, the more expensive it gets — and for small businesses, that typically spells disaster. Unfortunately or fortunately, small businesses just don’t have that bottomless pocket full of cash to spend on marketing themselves — this forces them to be smarter and more creative marketers.

Bottom line here is you don’t want to make your job any harder, or more expensive, than it has to be, so pick a target market that you can get to easily.

4. There Are Enough of Them Around!

A proper target market has to be large enough for you to not only survive, but thrive. Chances are that if there are only a handful of prospects interested in what you offer, unless your product is extremely consumable, it may be difficult to sustain your business — let alone grow it.

Bottom line; pick a target market that’s sizable enough for you to serve and relentlessly go after its sweet spot.

5. You Like Them!

You know, some people may think this one is silly, however I’m a firm believer that if you generally like those you serve, you’ll serve them better. And the better you serve them, the better you chances of increasing your market share.

Bottom line here is that life is too short to spend your most precious commodity, your time, with people you don’t like. So why do it? Even if the money is good, chances are that eventually you’ll feel unfulfilled — so play with people you want to play with.

So in closing, don’t make your job any harder than it needs to be. Clearly choose and define your target market, right from the get go. Take the time to find out everything you can about them — know their demographic and psychographic profiles — Be able to answer such questions as: What are their interests? Where do they hang out? And what makes them tick? An understanding of the answers to these very simple yet profound questions can make or break your business.

© 2007 Online Marketing Muscle — All Rights Reserved.

Want to use this article in your newsletter, blog or web site? You have my blessing so long as you include the following complete blurb with it (including links).

Liked this article? — Then you won’t want to miss Long Island-based marketing consultant, coach, and entrepreneur Dean Mercado’s highly acclaimed marketing blog ‘The Motivational Marketer’s Journal’. Additionally, for even more small business marketing and success tips, sample the latest edition of his FREE marketing tips newsletter the ‘Marketing Minute’, — a weekly multimedia e-zine designed to give you a jolt of marketing wisdom in less than 5 minutes.
rsw.beck
pplaw
e-spirit
hs-osnabrueck
mnt
existenzgruender
euroforum
alphadata
jobverde
umwelt-campus
wissen
bdo-dpiag
schlecht-partner
esri
stifter-helfen
help-ev
etl
taxellenz
uni-hamburg
socialnet
rut-kiel
rsm
surveymonkey
master-and-more
pkf-wulf-gruppe
purpose-economy
finep
europeanfinanceforum
uni-frankfurt
fzf
possehl-stiftung
patriotsoftware
learningtogive
niu
enterslice
incorporate
dasra
vidas
accademiadellacrusca
cantiereterzosettore
fornonprofit
notariato
mondonoprofit
asso360
nonprofitlegale
vita
informazionefiscale
passionenonprofit
shop.wki
ionos
tuttononprofit
www4.istat
unicatt
volontariatotrentino
nonprofitwomenmp
creval
unicredit
lexdo
nonprofitfactory
nonprofitday
techsoup
ilquintoampliamento
aiccon
quinonprofit
lavorononprofit
astat.provincia.bz
dynamoacademy
infobandi.csvnet
socialfare
porteaperteonline.unicam
job4good
laterza
bdo
dizionari.simone
reteclima
maggiolieditore
censimentigiornodopogiorno
isfol
valori
fiscoetasse
torinosocialimpact
sodalitas
nonprofitlab
giappichelli
forumterzosettore
itcgfermi
odcec.mi
tesionline
diariodellaformazione
rivistaimpresasociale
it.surveymonkey
associazioni.avvocatoferrante
noprofit
mdspa
governo
studiolomonaco
elibrary.fondazionenotariato
rubano
postel
welforum
socialchangeschool
mailup
agcom
granter
fondazionepittini
cattolica
optimy
institutfrancaisdumondeassociatif
cms.law
fideliance
delsol-lawyers
nexity
iae.univ-lyon3
creditmutuel
gustaveroussy
sos.state.mn.us
ksbiz.kansas
plea
theonn
cof
ashcroftassociates
banff
techsoup
eastcoastcu
esri
justice.nt
nonprofitlaw.cleo
kpu
bcnpha
laws.justice.gc
continuingeducation.johnabbott
bchousing
students.wlu
web.vaughanchamber
guides.library.utoronto
whistlerfoundation
ontariobusinesscentral
norfolkcounty
stjosephscreditu
lecu
newrosscreditunion
oakbay
ecclesiastical
canadiancharitylaw
goodshepherdcentres
communitysector.nl
bchrt.bc
cooperators
mnpha
ucluelet
oba
workinnonprofits
fasken
vancity
parklandcounty
omista
perthhuron.unitedway
torontononprofits
guides.librarylberta
riversidehealthcare
accessprobono
mainstreetcu
ibge
educacao.uol
sketchup
apptivo
help.wufoo
pcp
cmu
downtowngreensboro
marlincommunications
visme
docs.google
support.microsoft
slidescarnival
presentation
presentationzen
slidesgo
presentationhs
beautiful.ai
create.vista
graphicriver
w.sunybroome
mentimeter
writingcenter.gmu
prezi
piktochart
doc.arcgis
journals.plos
duarte
ncsl
pcsaints
support.zoom.us
presentationacademy
office.live
columbiacollege-ca.libguides
developer.mozilla
slidemodel
tutorials.istudy.psu
developer.android
h5p
slidedog
help.miro
cft.vanderbilt
presentationschool
pharmacoepi
startribune
extremepresentation
iiif
creativemarket
logitech
apply.berkeley
investors.alcoa
genial.ly
business.tutsplus
extension.oregonstate
cengagegroup
peardeck
ir.tesla
w3
revealjs
presentation-process
ced.ncsu
sigaccess
presentationmagazine
identity.foundation
cbs.umn
subjectguides.york
vyond
library.leeds
presented
buffalo7
pitch
presentationexperts
presentationsolutions
rmarkdown.rstudio
homes.cs.washington
library.soton
bertelsmann
overleaf
elements.envato
ethz.ch
me.boun.tr
uubfu.tr
publichealthontario
englishclub
bms
free-power-point-templates
wps
renderforest
gfoa
investors.talgo
issuu
24slides
marp.app
writingcentergc
library-guides.ucl
apastyle.apa
slides
masterclass.ted
ben-evans
google
presentationstudio
sls.navitas-professional
thinkuknow
secondnature
slidemaster
beat
dornsife.usc
release-presentation
ems2021
eera-ecer
deckset
europeansurveyresearch
hypersay
preply
chevron
ntpc
presentations
investors.generalmills
princeton
canicollege
mohfw
icdl
menti
abertis
neurobs
presentationcollegecarlow
en.wikibooks
international.unitn
towardsdatascience
enago
iihm.imag
laboiteaslides
graphiste
ebmt
pitchy
galchimia
fondation-giacometti
wiki.ubc
phtheatre
edu.mb
indigenous.abbyschools
eventos.abcm
repositorio.ufmg
www2.ufjf
ri.helbor
renewedvision
saarcstat
urca.msu
alum.mit
gvsu
isfs2020.pfsa.punjab
tools.niehs.nih
twp.duke
preswex
buzzfeednews
gothamist
nationaltoday
laist
news.wttw
pace
columbiaspectator
post-gazette
visitwichita
valenciacollege
independent
ccsf
perkinscoie
pressherald
visitwinchesterva
visitduluth
valleyartsandentertainment
belmont
stevensvilleartsandentertainment
columbiastate
miamigov
visitgreenvillesc
visitmaryland
whyy
berlinmainstreet
bethesda
msarts
texasmonthly
unlv
life
visitsaintpaul
albany
huntsvilleal
expressnews
visitvirginiabeach
capegazette
downtownhouston
infoplease
a-e-m
silverspringdowntown
stationnorth
azpbs
visitbgky
dmagazine
visitftcollins
rd
nashuanh
wssu
springfieldmo
vineyardgazette
wikihow
nevadacitychamber
ptleader
visitorlando
huntsville
msac
dean
visitsacramento
house.ga
tcstudios
townofnashville
stmarysartscouncil
capenews
visitstockton
myillini.illinois
honeywellarts
hagerstownmd
belairmd
belairartsandentertainment
visitfortmyers
redwing
aart.assembly
cardozo.yu
iaea-globalunion
johnstoncountync
spscc
aeatlanta
askturkiye
triblive
mcgilltribune
citynews
visitprinceton
dallasnews
oxfordcity
visitconwy
stockton
wilmingtonde
ipswich
aeplan
tri-c
northamptonma
carrollcc
stchas
thestar
sevenartsentertainment
kawarthanow
visitbelfast
orovalleyaz
lowercolumbia
stratford-herald
timesunion
mitranslations
deseret
bostonmagazine
capilanou
portsmouth
vogue
yorkshirepost
buxtonadvertiser
edinburghnews.scotsman
cheltenham
wellingborough
visit-hampshire
aeplive
helmdonparishcouncil
love-weymouth
fim-musicians
visitmoffat
croydon
blackpoolgazette
eastlothian
heraldscotland
theskinny
towerhamletsarts
thescarboroughnews
yorkshireeveningpost
slleisureandculture
northyorks
derbyshiretimes
dartford
lewisham
southlakeland
chroniclelive
cde
chichester
leeds
mylearning
inspire.ecropa
vidaxl
southglos
duston-pc
celticenglish
newswise
eladvertiser
thisishaslemere
acgarchitects
premiercomms
siccodesupport
conceptartempire
goinswriter
shetlandtimes
hachette
thestudioae
digitalartsandentertainment.be
discover.therookies
smc
designcreativetech.utexas
dailybruin
audible
inishlive
oiraproject
brooklinema
salisburyartsdistrict
catalog.pace
rider
visitbrisbane
meaa
arts
artscentreankston.vic
aim
australianworkersparty
portphillip.vic
omadvertiser
mycommunitydirectory
theweeklyadvertiser
greatthings
mq
newcastle.nsw
centralhighlands
thebiz
glenferrie
artsbundaberg
seniorcare2share
entertainmentassist