Narrowing Your Target Market

Narrowing your target market is crucial to finding and nurturing a strong customer base. Tying to be all things to all customers is a sure way to fail in the marketplace.

Below are tips to narrow your target market:

Being Focused – competition and static standing between you and the consumer is very likely in whatever market you are in. If you want to get notice in the rest of the fray, you have to narrow your focused to one demographic or slice of the marketplace.

Having a target market means speaking to the right customers. It’s like shouting in a park and talking to a specific group of people. This means you won’t be afraid to exclude certain types of consumer from your marketing or advertising.

Focus means exclusion.  Selling everything means nothing in the marketplace. Exclusion is fundamental to target markets.

Become an Established Resource in one Area – Be an expert in your area. Position your company as an authority in your field.  By becoming one, people will pay the price tag on whatever product or services you will offer.

Build your credibility by offering free information through your company’s website or blog. Educate your consumers by giving them valuable tips and industry information.

Market research – cut down the vast expense of the market to find your ideal target.

§  Find your ideal client

§  Look for growth market to identify burgeoning new areas not claimed by existing businesses.

§  Look for the areas in the marketplace where a gaping need exists that you can fill with your company’s service or products.

Marketing Pinch - your name should say what you do. Use a business title that will quickly help your consumers to understand what you’re all about. Your marketing should highlight your specialization in order to improve credibility. Be perceived as the best of something.

Once you've identify your base, use it to improve your business, find out more about what your customers are looking for through interactive marketing like social media.