Are You Targeting the Right Target Market?
Online marketers who have the most success target a specific market. This means they have done the research needed to find out who is the most likely consumer of their products or services. No matter how great your product is, not everyone will need it or want it. Most products and services are only intended for a certain type of client.
An accountant who is afraid of heights isn’t likely to buy sky diving lessons, but he will be interested in software that makes filing tax returns easier. A 6-foot tall male pilot isn’t nearly as likely to be interested in the latest ballet slippers as is a petite female who has a penchant for dance, but he may be interested in learning about your new hang gliding lessons. Regardless of what you are selling, some people will fall into your target market and other people won’t. Your job is to determine who that target market is and how to find them.
One problem with drilling down to your target market is directly related to the cost of your services and products. Even if your target market needs exactly what you’re selling, they may not be able to afford it. For example, if you are selling a do-it-yourself “business-in-a-box” one step does it all home business kit that will help anyone start their own business in five easy steps, it’s easy to assume the perfect target market is stay-at-home moms who want to work from home. Unfortunately, if your product costs $1200, it’s quite likely many stay-at-home moms who want to work from home won’t be able to afford it. The cost of your product would automatically eliminate many single mothers and most stay home moms whose spouses are working for lower income wages. Yes, your product might be the answer to their dreams and it might even be able to take them into a whole new income bracket in just weeks or months, but if they can’t afford it in the first place, they aren’t your target market.
Your target market must be interested in your product, able to afford your product and know how to find your product. In order for them to find your product, you need to put it in front of them. How do you do that? Simple- go where they go! If you’re selling that business-in-a-box to stay-at-home moms with a significant amount of disposable income, where would you go to market to them? An advertisement on a website about building small engines would be a lousy choice for your marketing dollars. However, a website devoted to educational toys, home organizing and decorating or cooking for families could be a great place to spend some of your time and money marketing your products.
The key to online marketing is finding your target market and then bringing your product to them so they can find it. Convince your market your product is better than the other guy’s product and you have a sale!