If you are online trying to market your business, you've probably heard….”You need to know your target market”. But, what does that mean?
A target market is a group of people that all want the same thing or are all interested in the same thing. They all have the same problem and they all have similar characteristics and needs. It is a very specific group of people who are looking for your products or solutions that you offer.
The goal of your marketing efforts will be to connect with these people and help them solve their problems. If you don’t know who they are and what their needs are, it's going to be very hard to offer them solutions.
What Is a Target Market? Explained
A target market is defined by demographics such as gender, age, economic group, location, family situation, social status, country and language. Below I have listed some examples of businesses with target markets:
A store that targets working moms under 40
A resort that targets retirees
A store whose target market is young families
A winter sporting goods supply store that targets people in cold, northern areas
A blog that targets moms
What Is a Target Market? How It Helps You.
Another important aspect of target marketing is understanding how your market see themselves or how they view the world around them.
Why You Want a Narrow Market
The more narrow that you can make your market, the better. You don't want your market so broad that you never really connect with anyone. By making a smaller market you will really get to know them and understand them. You will be able to talk to them in a language that they can understand.
If your target market is moms of teenagers, you don't want to be talking about pre-school and diapers. Your message would get lost and no one will be listening to you. They won't understand where you are going with your market and they will tune you out.
Benefits and Solutions
The key to marketing successfully is to know your market's problem or pain and to offer them a solution. If you really understand who they are and what their needs are, then you can communicate your products to them in such a way that they will understand how your products will help them.
An added benefit of creating a target market is that your market can relate to each other. They all have the same problem and are all looking for answers, you can create a community that will help and support each other and will look to you for answers. You can support this group through, social media, forums and blogs.
When coming up with your target market, be careful that you don't make assumptions. Marketing is a science and you need to do some research. You can even give your target market a survey and ask them what it is that they want from you.
Please leave a comment and tell me who your target market is?
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