Who is Your Target Market?

What is a Target Market?  These are the people who you want to work with, to be part of your team.  But you must be able to relate to them and attract them as part of your "flock", "tribe", your team.

Identify and Attract your Perfect Prospect

How do you attract the kind of people you want to attract?  Not all people are a fit.  Being able to fog a mirror doesn't really qualify as a quality you would like to have in a prospect.

What kind of people do I want to attract?  (Not how do I find more people)

a.       Age range (35 + has best results, but the range can be more specific, like 45 - 65)

b.      Gender - Male, Female, or Both 

c.       Location - Do you only want to work with local people, English speakers (or Spanish, French, Chinese, or ?), in the United States and Canada?

d.       Interests  (Being healthy, business, etc.)

Let's look at Facebook for our example.  It is about the same as most of the other social media platforms.  Facebook has the most visitors everyday and people spend a lot more time there.  It may not be your idea place to help people, but for an adult target market, it just works. 

Other platforms are Instagram, LinkedIn, and yes, even TikTok, to name a few.  There is a business community in most of them.  So take the concepts we're going to discuss here and use them where ever you like to hang out because most platforms copied the business model of Facebook.   

How do I Find People in my Target Market?

Remember, you build a business because people are attracted to you, but who are these people?

Deciding on a target market is a critical step for any business or project.   Item #5 is the most critical!

1. **Identify Your Product or Service Benefits**:
- List out what your product or service offers. Consider the unique features and benefits that set you apart from competitors.

2. **Take a Look at Your Current Customer Base** if you already have a Busines:
- Look at who is already buying from you. Consider their demographics, interests, and buying behaviors. This can provide insights into where similar potential customers may exist.  Are they buying in person or online?

3. **Research the Market**:
- Conduct market research to understand trends and demands in your industry. This includes analyzing market reports, customer surveys, or focus groups to gather more detailed information.

4. **Segment the Market**:
- Divide the broader market into subgroups or segments based on different criteria such as demographics (age, gender, income), psychographics (lifestyle, values), geography (location), and behavior (buying patterns, brand loyalty).

5. **Create Detailed Buyer Personas**:
- Develop detailed profiles of your ideal customers. This includes not just demographic information, but also their needs, desires, habits, and challenges. Make a chart with these headings:

Target Market - After some research, who comes to mind and your personal interest (Your Gut) that you would like to serve and help them solve a problem or make a decision.

Problems Surface Level - What are their immediate apparent problems?

Fears Emotional Impact - What gives them fear?

Wants Surface Level - What is it that they truly want?

Dreams Emotional Impact - On a deeper level, what emotionally are their dreams?

Lingo Language - Name some terms that they use to relate their situation.

Tarket Market Chart

6. **Evaluate the Competition**:
- Analyze who your competitors are targeting and how they are positioning themselves in the market. This can uncover underserved segments or help you position your unique value proposition.

7. **Test and Iterate**:
- Conduct small-scale tests like pilot projects or targeted marketing campaigns to see which segments respond best to your offering. Use feedback and data to refine your understanding.

8. **Consider the Value Proposition**:
- Determine which segment will benefit the most from your value proposition, ensuring that your messaging aligns with their needs and challenges.

By following these steps, you can narrow down which segment of the market will most likely convert into loyal customers. Remember, your target market is not static; it's important to revisit and update your strategy as market conditions and consumer preferences evolve.

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