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Determine your Target Market

July 07, 2017 / Category: Business, Target Market

“Jack of All Trade Master of None”

As an entrepreneur or small business you must determine your target audience. Once you come up with a product or service, not everybody is going to want it.

First: Define what benefits your products or services will bring to a target audience. Obviously, selling winter apparel in Florida is a sure recipe for disaster. Selling boat insurance to Floridians would provide more benefit.

Second: How your products or services bring value?, how do they help your target audience resolve their problems and challenges?. Keep your focus on the customer needs, rather than on being successful. In finance it’s called Fiduciary Responsibility, the customer benefits comes first.

Third: LISTEN, it means: be SILENT. Listen to what your client has to say, and keep detailed notes. You want to be able to go back to your client with no misunderstanding, and knowing that his needs are well understood.

Fourth: How do you compare yourself to your competition?. What make you stand out?. Every client perceives value differently. Find out what values your client are looking for. Some clients frequent face to face meetings, while others prefer electronic communications. Some clients value civic involvement, while others value social events.

Five: Turn the IMPOSSIBLE into I AM POSSIBLE. Always look into making it happen for the clients. Clients count on you to lower their expenses, increase their Return on Investment (ROI), and increase their income. Be a source of innovations energy to your clients. Don’t be scare to come up with suggestions, even of the cuff. It may work.

If we can assist in any way, do reach out – we are always here. We look forward to speaking with you on how we can help you make your business grow!

 

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