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Target Market

I was privileged to meet with a gorgeous, dynamic businesswoman yesterday.  She is doing everything right in terms of marketing her brand, and putting an inordinate amount of effort into the marketing of her company.  She is in high profile consumer media (where the rest of us would KILL to be), she has a great website, she’s on Facebook, Linkedin, Twitter – you name it….

However, it became clear as we chatted that her approach to her target market was too broad and she was unwittingly using a “spray and pray” approach in terms of attracting business.  This woman has the most exciting, unique concept that I have come across in a long time.  She is challenged – as entrepreneurs typically are – by having to balance all the hats of being an MD, sales manager, marketing manager, financial manager, manufacturing manager, HR manager and so on.  In addition, she is a devoted mom to two very active boys, a loving wife, and she has a real sense of family commitment on top of a hectic social life.  I don’t know how she balances all these hats and still gets to the gym!

Back to the target market! We needed to talk about her primary target market and segment it for her so that she could do a couple of things:

  1. By segmenting her target market into a series of sub-sections, she can construct very clear messages for each of these sub-markets;
  2. She can identify appropriate media and vehicles or places to “place” her targetted messages (remember those ads that don’t appeal to you? Chances are that you are not in their target market and their message is simply not designed to ring your bell! Well, the same principle applies here.)
  3. She can also start focussing on how to PUSH her product towards these potential customers.  Remember: only one side of marketing is creating the PULL or the demand.  We need to close the circle completely by also creating the PUSH – putting in place mechanisms that compel our potential customers to buy our products/services.

I look forward to questions or comments…

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