Five ways you can define your target market for your business

We all need to know who we are selling to. The fastest way to make a marketer sob into their trim flat white is to tell them you market to everyone.

The more we refine, and define who we are talking to, the more we cater our offer, or services , our messages and our marketing to catch their eye and help them choose us.

Whole target markets (we refer to them as niches) have been decimated by events many of us never saw coming, such as bush fires, flooding, Covid19 and other things we wish were all a bad dream.

If we do change who we market to, it will also impact what we market, and change the way we do business. It’s important to pick wisely.

Here’s several other ways you can find a niche/ target that is all your own. To find your special blend of people, it’s a good idea to take a few of these and mix them together (eg: A location and a problem)

  1. Where they live. Are they super local, in the same city, island or country? Keep in mind how your answer would be affected by border controls and level changes.
  2. Are they in a specific industry? At the moment this could help determine a short term niche, but long term. With so much uncertainty, niching on one industry alone could be risky. 
  3. Do they have a common need? Our needs right now in general all sit in the space of comfort, distraction and need to feel safe/healthy. That changes as the levels change. What needs can you fill for someone? (We’ve seen hospitality suppliers move to delivering to the general public. That’s a model I’m hoping they’ll keep!)
  4. Do they share your values? One tour guide I worked with used to be overt about his political affiliations as he didn’t want political arguments on tour! Our business also share our values, and attract people who feel they relate to them. This is one of the areas we niche under. 
  5. Do they love you? If you’ve got a strong personality, or are a leader in your field, you can cultivate that and get people to come because they like you. This can create a strong business, but do make sure you’ve got a thick skin because for every person who loves you, there will be someone else who doesn’t!

Take a look at what you offer. Take a look at this list. Use it to work out  – who would want what you’ve got, and why. Does that make a targeted group of people who can afford what you sell? If it does, you’ve got yourself a niche!

One super important thing. You will still get people who don’t fit into your “niche.” That is allowed! This isn’t turning people away who want to give you money! It’s just helping you work out how to spend your time and money best to get the best types of people for your type of business. 

When we’ve got that clear, marketing becomes a whole lot easier. 

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