Every business owner wants to believe that every person needs their business. Whether they are selling a product or providing a service, everyone needs what they have. That’s what we want to believe, but smart business owners know that is not the truth.
If you look at some of the largest businesses in the world, McDonalds, Coca-Cola, Mircosoft, you’ll see that they don’t market to everyone. They target their message to the people that are interested in what they have to offer. Granted, their audience is significantly larger than yours, but still, Coca-cola does not market to health nuts. Neither does McDonalds. Microsoft does not market to people that don’t use computers. Their markets are much larger than yours, but they don’t try to convince everyone to buy their offerings..
So where do you start in identifying your market, people who would be interested in what you have? Start with your primary market, people that you know need your product. But be specific. That is the first key in identifying your primary market.
Let’s say you sell a wrinkle eliminating cream or device. Would you say your primary market is everyone that has wrinkles? A lot of people would. And a lot of people would be wrong.
I have wrinkles but I would not be a primary market for your product. I could care less if I have wrinkles. I’m a guy that takes less than 10 minutes in the bathroom, and that’s including the shower. I think my wrinkles actually add to my character. I would not be someone you would want to market to in order to convince me that I need your product.
Your primary market is people with wrinkles, who do not want them. People who are more concerned with their skin appearance. Once you define your primary market, you need to break down that market into segments. Women, for the most part, are more concerned with wrinkles than men. The gay community has a reputation of being concerned with their physical appearance. And people in the entertainment industry. Anyone in front of the camera. People in the higher economic end are more concerned with how they look. People in the fashion industry. Executives in major industries have to keep up their appearance.
You have to start with a broader market, but not too broad. You saw how it wasn’t everyone with wrinkles, but everyone that does not want to have wrinkles. Then you can break your primary market down into submarkets to find common demographics. This will help you identify ways to reach those sub-markets.
Once you know who you want to reach and what their demographic break down is, you will be able to start to find way to reach them. But the first step is identifying who is your primary market. If you try to skip this first step, you will be wasting a lot of your time and a lot of your resources. Define your primary market.
Rob Bedell has over 17 years of experience in marketing and advertising. He has built and restructured departments for major media companies. He started his own marketing company and works with owners of small to medium sized businesses. He works with business owners from various industries, from traditional brick and mortar businesses to network marketing business owners.
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