Which statement sums up how you define your customers?
1) I have a very specific customer in mind -- very specific and
very narrow. I only want to sell to this specific customer, I'm
not interested in attracting anyone else.
Or
2) If they have a pulse, they're a potential customer.
Okay, in case you were wondering, number 1 is good and number 2
isn't.
Yet I can't tell you how many business owners I run into who are
closer to number 2 than number 1.
I know, it's difficult to think you might be turning away
potential business. But trust me, your life will be much easier
once you've carefully defined your potential customer (also known
as your target market). And to further convince you, here are 3
reasons.
1. You'll be able to find your target market more easily. If you
know exactly who you're looking for, you'll have a much easier
time tracking down where they're hanging out (i.e. publications
they read, Web sites they visit, radio stations they listen to).
Then you'll know exactly where you should be spending your
advertising dollars and/or which editors you should be courting
for potential PR stories. Best yet, you'll probably be spending
less money/time and yielding far better results.
2. You'll be able to persuade your target market more easily. If
you know exactly who you're talking to, and what their challenges
and problems are, you'll be able to craft far more targeted
marketing materials. You can use language and images they respond
to (which will make them feel like you understand them) plus
you'll be able provide a specific solution to their challenges.
You can't do this if you're trying to please "everyone."
"Everyone" is a tricky fellow. He's tough to pin down. After all,
"everyone" buys a product for different reasons. Take cell
phones, for instance.
Senior citizens, teenagers and parents buy cell phones, but they
buy the, for different reasons. Teenagers buy them so they can
chat with their friends all the time. Parents buy them for their
teens in order to keep track of them (the teens, not the cell
phones). My 90-year-old grandfather bought one for emergency use
only. Each one of those reasons is a different benefit. The ad
that appeals to parents knowing where their teenagers are is
certainly NOT going to work for teenagers, and neither of those
ads will be terribly persuasive to my grandfather.
So if you're trying to sell to "everyone" just imagine how
complicated it's going to be to try and cover all those different
reasons in a single marketing piece. Not really possible, is it?
3. You'll have an easier time with your business. If you're busy
running around providing different products or services to
different customers, chances are you're not as efficient as you
could be. This is especially true for business owners who are
service providers. If you're constantly learning new skills for
each client who walks in the door, how efficient will you be?
Wouldn't it be better to stick with what you're good at and just
sell that?
Creativity Exercise -- Discover your target market
Here's an exercise you can try if you're still unsure of your
target market or if you want to make sure you aren't missing any
potential customers.
Get a sheet of paper. Write down all the features of your
product. Features are descriptions of your product. Take cell
phones, for example. Features of cell phones are they're small
and wireless.
Now change those features to benefits. For a cell phone, you can
carry it anywhere and use it anywhere (anywhere there's a signal,
that is.)
Now make a list of who needs those benefits. Think broadly here.
Maybe parents or people in certain industries or people with
certain jobs. Try to come up with at least 50 markets. Be silly.
That's when you're most likely to hear your muse (or genius)
speaking to you.
Another technique is to ask your subconscious for help. Do a
meditation where you ask your subconscious to show you someone
from your target market. Ask questions and see what the answers
are.
Once you come up with your list, then it’s time to critique and
judge. Try and narrow it to no more than five target markets. One
or two are better yet. The more target markets, the harder it
gets. You can always start with one, and once you've made
yourself known in that market, you can move to a second and a
third and so on.
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