Target Market Strategies: Define, Reach, and Convert

Understanding Your Target Market

Hello and welcome Mostafa Hosseini, your business and marketing coach. Today I’m going to talk about target markets, your niche market or your avatar.

And I’m talking about I’m going to talk about what it is, why is it important how to set it up, and I have a workbook at the end that you could download and fill out.

Defining Your Target Market

So what is your target market or your niche market or avatar, these are the group of people that are interested in your product, or your service. And you just have to find them, offer them your product or service.

And because they have a need for what you offer them, they’ll buy if your product or service is good, and it meets their needs.

The Importance of Clarity

Why is it important? Now, when you set up your target market, and when you clarify it, it gives you a it’s like hitting a target with a sniper. Okay?

The narrower and the the more clear your target market is, the easier it is for you to find them, the easier it is for them to find you. And it makes it easier for other people to refer to you, your referral partners.

Avoiding Common Mistakes

One of the biggest biggest the biggest mistake that I see a lot of business owners make is when I asked them, what’s a target market for you, or what is a good referral for you and they say, everybody!

The fact is that not everybody is your customer, not everybody is your market, that people that can’t afford can’t afford your service are not your mark, or your target market, that people that don’t have a need for your product or service.

They’re not your target market, that people that don’t care about you or the people that don’t like you.

Crafting Your Message

Once you do that, it makes it easy for you to explain who you’re after. For example, if you visit a BNI meeting, if you visit a young entrepreneurs meeting, if you are in an elevator and you want to do an elevator pitch, in a in a trade show or in anything and somebody asks you, what’s a good referral for you?

Or who do you serve, you could say something like I’m after business owners that are between 35 to 55. They’ve been in business three, four years or more.

Getting Specific with your target market

I’d like to help work with say, health businesses such as dental chiropractic and physiotherapy all clinic owners, and the owner is extremely busy, he’s working too much he wants to get out, free up some time and hanging out with his family.

Now, when you say something like that it makes people to understand it allows them to, to understand what exactly you’re going after.

Tailoring Your Marketing

And it makes it easier for them to refer to you and think of their friend John. Now, when you say, you know, my target is everybody, then that’s nobody because I can’t think of I can bring the whole world to you.

So it also makes your allows your team to design a better product for your marketing material for your service and products to makes it to crafted only for the target market that you’re after, and no one else.

Understanding Your Target Market

Now what should you know about your target market, you want to know their their gender, you want to know their age range, their interests, their locations, their education, there’s a whole bunch of things that you got to know there is demographics, and then there’s psychographics that you got to know about them.

Leveraging Social Media

Once you know those details, you could go I’ll say on social media on a place like Facebook, and you can be very specific on who you want to show your ads to for example, you want to say something like I am going after people say in Calgary or Vancouver, Canada, I want it to be female 35 to 40 who have who are doctors or their dentists, and they have the interests of skiing and hiking.

Okay, you can be very specific with that and then and then you know, show your ads only to those people and sell your product to them.

Bonus Tip and Action Plan

To make Connexus easier for you, I have put a worksheet together it’s a one pager, downloaded from the link below. go and fill it up, spend a few minutes or an hour to think about who you want to go after. And then fill it up.

Analyzing Your Top Clients

Now, one more bonus tip:

To understand who is your best market, one thing that you could do is search your customers by sales volume.

Grab the sales volume for the last 12 months and then sort them by sales volume, then get the top 20% of your clients that give you 80% of your sales.

Study that list, study your top 20%. And that would become your primary target market.

Course Offering

Now, we are running a course, called Simple Marketing Formula. During this online training program, you will work on building a simple marketing plan that is doable, actionable, and it’s something that will provide positive return on your marketing investments.

Enrollment Opportunity

This course is usually offered at $1,500. But for a limited time, we’re offering this course only at $500. And there’s only 20 people that are going to get into the course. So if you’re interested in that, send me a message on LinkedIn. And I’ll send you instructions on how to sign up and get in that course. It’s going to be really valuable attending that course.

Keep your Marketing Simple

And one more thing that I should add is we’re going to be only working on the essentials, essentials of marketing, the very basics of marketing, no bells and whistles, no extra stuff, we will build the foundation, and you’re going to start seeing results right away.

Download the worksheet

Hope you find this. Download the target market worksheet. Work on your target market, set it up, craft it, clarifying it will allow your sales team and your the rest of your staff and yourself know who you’re going after.

And this will help you a lot. If you liked the video, let me know.

Leave me a comment. And I will my next video. I’m going to talk about lead generation how to find leads for your business.

Have a great day and we’ll see you later.