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How can you identify target markets?
The first and the very important decision that many business owners need to make is to identify the target market (or niche) for their business.
I ask all of my clients to do this because everything we work on after that, including getting their web site ready, building an e-mail list, using online marketing to get more clients, depends on the target market they choose for their business.
If you don't know who your target market is, you can't market to it. And if you can't market, you can't get clients and you can't make money. It is that simple. I have met solopreneurs who have been in business for over 3 years and who still haven't defined their target markets. As a result, these solopreneurs weren't able to market their businesses effectively and didn't have any clients.
Don't be like these solopreneurs. If you still haven't defined your >target market, spend the next few days brainstorming about your target market. Once you have a clearly defined target market you will see how much easier it is to explain to others what you do, to market your business and to get more clients.
Here is how defining a profitable target can help you get more clients:
- Use the information about your target market on your web site. Taylor web site text and other materials to your target market. Tell your target customers exactly how you can help them. If your target customers recognize themselves when reading your web site, they are much more likely to hire you.
- Include your target market into your 30 second pitch when networking. When you tell people you are networking with know who your clients are, it is easier for them to refer clients to you.
- Find networking groups based on your target market. Now that you know who your target market is, find the networking groups where your target market networks. Join these groups and start networking to promote your expertise. This will help you be seen as an expert by your potential clients and gain more clients as a result.
There are many more benefits that result from defining a profitable target market for your business. The most important ones make it much easier for you to get more clients and newsletter subscribers. If you don't know who your target market is, spend some time now to define it. Doing this will help you move your business forward.
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