Market, Media and Message are three keys to making your marketing efforts more successful. In this week’s Marketing Secret, we are going to talk about Market. The market you are selling your services to is the most important piece of the puzzle. You have to know your market inside and out, understand what the market is looking for and how you can deliver to the market.
You also have to define your market. The worst thing you can do is say, “we provide widgets for everyone/anyone.” If your provide something to everyone, you sell to no one. So, get specific about who you are selling to. For example, if you are an architecture firm, you could specialize in schools. Now, that does not necessarily mean you only sell to the county school boards. You could sell to church schools, military schools, universities/higher education, pre-schools and so on.
When you start to define the characteristics of your customers, you start to create an ideal client mold. Knowing what your ideal client looks like will save you THOUSANDS of dollars in wasted marketing money, not to mention save you time.
A good example of a target market description is: land developers who have less than 20 employees, work in Texas, have annual revenues over $2 million dollars and specialize in commercial buildings. If you cannot get your description of who you want to sell to down to specific characteristics, you will be hard pressed to find what you are looking for.
Stay tuned! In next week’s Marketing Secret, we will discuss Media – how to reach your prospects.