Choosing a target market is extremely important when building a successful business. And it’s important in your branding.
Why? Because if you aim at nothing, you will hit at nothing.
It seems counter intuitive, but the truth is the more narrow your market, the more successful you will be.
Saying you are going to reach everyone is only going to lead to confusion. Because you won’t be able to focus.
I think back to my first experience in business, as an associate for a network marketing company. They never encouraged me to go beyond friends and family. But what happens when you run out of friends and family? And besides, selling to friends and family does not always work out so well.
So how does choosing a target market help?
Here are three ways choosing a target market will bring you a successful business and improve your branding:
1) It helps you make decisions that will attract your market to you. The more narrow your market, the more response you will get. For instance, I market to Christian homeschooling parents. Therefore I created a curriculum on becoming entrepreneurs through branding FOR homeschoolers. I will then tweak this curriculum for other markets, like authors, bloggers small business owners, etc.
Awhile back, I helped publish books for the vacation rental market. Without much advertising, we had steady sales. Because we were providing information for a specific group of people who needed a solution to their problems.
2) The more you know about your target market, the better decisions you will make in your branding. Knowing your target market will give you clarity about what your brand should look like–colors, fonts, arrangement.
Think about the difference between Guess stores and Dress Barn. A few years ago, a teenager friend of mine dragged me into a Guess store and I was quite horrified. The theme of the Guess store was entirely different than Dress Barn. Teenagers are drawn to different colors, themes, and art then mothers and career women. She loved it but I hated it. Obviously, their market is teenagers. I felt much more at home in Dress Barn, because I am in their market!
3) You will create raving fans. When you choose a target market, you are able to solve specific problems for that market. It is easier to “show up and serve” and they will be drawn to you. As you become a trusted advisor, you will build followers who will spread the word for you. That’s the best marketing of all, word of mouth.
Because your best customer is a repeat customer. When you choose the right target market for your business, your brand will sizzle and your future dazzle.
Image by Adobe Stock © Андрей Яланский #302409470