Do You Have a Lucrative Target Market?

One of my Get Out There Make It Big Success Circle member asked me about her choice of target market today. It’s truly a million dollar question, and I definitely don’t claim to have all the answers. Here is my 2 cents on a Saturday afternoon…

Is a Target Market Viable?

The easy way to find out is to look around and ask!

1. Look around – go onto Google, and find the businesses that service your target market. How are they positioned? How are they priced? What is the level of services that they provide (bare-bone, dollar-store style vs. customized services with fancy bells and whistles)? You should be in a good place if the businesses that service your target market provide premium-priced options, customer experience-focused products and services. Those are a good indicators that this demographic has the money and is willing to spend on services that will help them solve their problems and get what they need.

2. Just ask! Do a survey: go to surveymonkey.com or create a form using Google doc. Keep it down to no more than 5 questions so that people are actually going to answer your questions. You can incentivize by offering some reward – e.g. one lucky participant will get a breakthrough session with you, or one of your information products. First, you want to make sure the person answering your survey is in your target market. Then you want to find out if they desire your service, what level of investment they are willing to make and what specific type of service that they most desire.

Even if you know from the get-go your target market is viable, you are not done!

Now what you need to find out is not IF they are willing to spend the money, but WHAT they are willing to spend the money on. Are your products and services appealing to them? Are you bringing solutions to their pain and giving them what they really desire? This all comes down to narrowing down your target market, tapping into their pains, dreams and desire, creating an offer that is irresistible to them and convincing them that what your program/product/service is the answer to their problem.

Want to see how you can create marketing messages that are congruent with your brand and appeal to your target market so that they will invest with you? Check out the Website Reboot DIY eCourse – you will get more than just awesome content for your website that sells! Most folks come out of it with more clarity on their business than ever before!

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