Hello everyone! I hope you’re having a wonderful day! This blog post is dedicated to you, the small business owner who is looking to grow their business. I’m passionate about providing small business help, and this post will be particularly helpful for those of you who are looking for nuggets of wisdom regarding marketing. Today we’re going to talk about the marketing bullseye and how to hit it. If you’ve ever played darts before, think about that for a moment. I’m certainly not an expert on darts, but when I have a dart in my hand I’m trying to hit the bullseye. That is the goal. I aim for the bullseye, and to be quite frank, I hit the actual bullseye on a pretty infrequent basis. I miss the actual target. That said, because I shoot for the target, I hit other points that are close to the bullseye and on occasion hit the bullseye itself.
The idea with marketing as it relates to the term ‘target market’ is that we need to go after a bullseye with marketing. We need to go after a target. We need to be very specific (extremely specific, actually). We need to be almost neurotically specific with what kind of client we would like to work on. We need to be very detailed, almost to the point of ridiculousness. And that’s what we shoot for in regards to marketing.
Often times we may not hit that target, we’ll fall a little bit to the left or a little bit to the right, but we’ll still do very good. We’ll be able to work with clients that work for us even if it’s not an exact version of what we see as the perfect client. There are five things to look at here regarding target market. Well, there are many more than five things, but I broke it down into just five things to make this more concise and easier to discuss.
1. Choose a niche.
There could be more than one niche in your business, you might focus on two different areas or have two different services that focus on different areas. But for right now, just identify one niche to concentrate on.
2. Choose between commercial or consumer for your niche.
You could focus on commercial or consumer for this niche, and you’ll need to decide on one of the two. For this particular example, however, we’re going to look at commercial.
3. Choose the geographical location for the business you’re looking to target.
This is important because many times when we talk to people they say “Well, I’ll work with anyone in my city”, or “I’ll work with anyone in my state”, or “I’ll work with everybody”. This may be true to some degree but this is very bad from a marketing standpoint. You’ll end up losing a lot of money and having a smaller ROI on your marketing dollars if you have this approach.
Get really specific geographically with where your ideal client lies. Where is your target? You might get into zip codes specifically, like 77057, or you might get into streets, or little pockets, or little neighborhoods. Or you could make it even more detailed than that. The point is, get very specific geographically, even if you can service people outside of that sphere, just narrow it down. Many people we talk to just don’t do this to the level that it needs to be done.
4. Choose the size of the business you’d like to target.
Look at the size of the businesses you want to work with. Maybe you target a business with less than 250 employees. Or maybe you target a business with less than 10 employees. Be very specific in regards to the size of the company. I know a lot of people focus on revenue, and you could certainly say “I’ll focus on a business between 2 million and 20 million in revenue”. That’s a fine target as well, but sometimes it’s harder to know that information with private companies. In any case, figure out the size of the company you’d like to work with.
5. Choose a vertical.
Think about another vertical, like maybe you focus on the plumbing business, the insurance business, or attorneys as your vertical. Think of a vertical that you can serve better than anyone and that you know very well. Then, you’ll start marketing to that group.
In conclusion, there are other targets you can go more in-depth at, but this is a good starter. So to recap: Identify your niche, choose commercial or consumer, look at geographic elements, look at size, and choose a vertical. Another big takeaway from this is to be specific. And I mean CRAZY specific.
Now, I know a lot of you may want to learn more about these topics. If so, please go to our site www.entreresults.com. If you click on the link, you might have a chance to have a more in-depth talk with a live coach about this depending upon what promotions are going on for the month. Business coaching has many benefits, so I strongly encourage you to try this out.
Thank you so much for taking the time to read this blog post. Keep the five elements I discussed in mind when you plan your marketing strategy. I would love to know how implementing these elements impacts your marketing results, so please feel free to share what you experience in the comments section. For now, go out there, target your bullseye, and have a better than amazing day!