Wednesday, December 26, 2007

How to Target Your Market

Trying to market to everybody is a squander of money. So how do you influence your marketing funds to sift out all the non-buyers and reach your forecast and customers?

You need to aim your marketing labors to those people most probable to buy what you offer. Identifying your target market makes creating, pricing, distributing, promoting, positioning, and repeatedly improving your product or service easier, more victorious, and in the end more gainful. Anything else is a waste of time and money.

If you don't already know, shape out who buys your product or and service--and why. Expand a picture of your ideal buyer: their demographics and the problems they're trying to solve. (For more about solving your customer's difficulty, see my article, "Solve Your Customer's Problem.") Then use this information to create a marketing plan that will magnetize those perfect customers to you.