Do you take every Tom, Dick and Harry as your target market? Then you are making a huge mistake which is also making you to leave so much money on the table. Most entrepreneurs do follow this trend of taking everyone as their customer, this will leave not only lead to business failure but frustration of trying to sell to everyone.
Your target market should be streamlined to specifics or a particular group of people, this will enable you to understand them perfectly which can also lead to much sales and the realization of your business goals in the long run.
Below are five reasons you should streamline your target market in your new or existing business.
Makes you more focused.
When you streamline your target market to a particular specific, you will be more focused from the production stage to the needs of your target market, you will now concentrate all your energy on that particular group in order to satisfy them.
For instance, your business is to produce liquid soap/wash, you can choose to produce that liquid wash solely for hospitals instead of trying to sell to everyone. This will help you focus more on your target market (hospitals) by making the product more hygienic, this will also be present in your branding and advertising messages.
2. Understand the needs of your target market easily.
Can you imagine yourself trying to understand the need of every body you intend to sell to? Trust me, you will loose yourself in the process. But having one specific to present your product to will enable you find yourself in the pool of success in your business.
Using the example of liquid soap as your product, you can ask your hospital client to give you feedback on the quality of your product and how they want it to be. This singular act will enable you understand their needs and make them trust you more as a serious business person.
Trying this method of getting feedback from multiple target audience, oh my God! you don’t want to do that, seriously.
3. You will be more productive.
Focusing all your energy on one particular set of target market will enable you to be more productive such as making more sales in less time and signing up more client to your customers database.
Using the case study of liquid soap production been distributed to hospitals, you will discover that once you have succeeded in getting one hospital to sign up with you, that is the beginning of good business as you will supply in bulk and regularly.
Apart from that, you will move to source for other hospitals that will sign up. You will notice that this feat cannot be achieved when you decide to have a scattered target market.
4. You will have less or no competition with other brand.
Have you ever tasted monopoly (as non-entrepreneur folks do call it) while running your business? Trust me, it’s very interesting as you will practically be the leader and problem solver through your product or services.
There will be little or no competition when you target a particular group of people to market your product, but I will suggest here that you always up your game, keep that momentum of being the only problem solver by upgrading your product or services regularly. You just have to be creative here.
5. Make you a professional, not a hustler.
Streamlining your target market to a particular specific will present you as a professional, you can call that a consultant if you like, rather than positioning you as a hustler.
This is because you will find yourself talking to your target market about their need instead of disturbing every other person on the road, thereby pissing them off in the process.
The above reasons why you should streamline your target market is not just a blab but a tested and trusted way we tried in our other business at AfiaAfrika and we saw tremendous result. So I will suggest you apply these method of streamlining your target market.
In a case where you are confused about streamlining your target market, you can ask your questions below using the comment box, list your kind of business and I will give you examples of target markets you can focus on.
If you have any other pressing question relating to business and marketing, you can ask below using the comment and I will reply ASAP. After all, I’m your one and only consultant.
To your success.