(c) Tessa Stowe, Sales Conversation Pty Ltd. 2005A specific group of people you will focus on selling your selling services to is your target market. This is not to be confused with
problem you will be solving for this group.
Why choose a target market?, You need to decide exactly who your audience is before you sell your services. Deciding on your target market lays a critical foundation for your business. When you get clear about who your target market is, you will:
* know where to focus your selling and marketing efforts.
* know where to focus your research efforts. You want to intimately understand your market:
problems they have and
language they speak. The greater your level of understanding
more magnetic you will become.
Your target market will determine your income and success. Choose
wrong one and you will waste a lot of time and money with very little results.
Whatever target market -TM- you choose, check to see that it meets
following 10 essential criteria:
1. Your TM has a big problem. They think about it all
time, it keeps them awake at night.
2. Your TM wants
problem solved. The impact and cost of
problem is big enough that they will act to solve it (some people have problems they are quite happy to live with!).
3. You can easily find your TM. Do they belong to associations? Are there conferences for this target market? Are there publications? Where do they hangout? If it's not easy to find your target market, it will cost you a lot of money to find them.
4. Your TM has money to spend. No point having a terrific service if your target market hasn't
money to pay for it. I know this sounds basic but it's often overlooked.
5. Your TM has a history of paying to have this problem solved. You want to focus on a target market where there is a proven track record of problems and people paying to solve them. A good sign is if your competitors are selling similar services to
target market.