What is Target Marketing? April 18, 2009
Posted by vipmlmleads in Tips From the Trenches.Tags: business expert, home base business, home business leads, target market
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First you have to understand what a “Target Market” is. The simplest definition of Target Market is to break the market into groups and focus your advertising efforts on one of those groups.
Understanding your target market can mean the difference between success and failure of your MLM or product sales.
As a marketer, you will streamline your advertising efforts and save money if you understand who your target market is.
Planning Ahead
The key to any successful business isn’t jumping in head first, but taking some time to plan your marketing strategies. Here are the 3 key steps to take when setting up your marketing plan…
1. Decide which group is the correct group to target.
2. Decide the best way to reach that group.
3. Build a campaign or message to reach that group.
Your target market will consist of people who are likely to purchase your products. You really want to get down to the nitty gritty when you describe your target market. You need to determine exactly who uses your products and gear your campaign toward that group.
Be the expert on your products and services. This doesn’t mean you have to be everything to everybody. Your ability to refine your services to attract a specific type of customer will help you to define your target market.
Here are three categories to help you determining your target market.
· Problem solvers-Your products or services solve a problem.
· Fulfill a Need-Your products or services fulfill a need.
· Warm Fuzzies-Your products or services give the customer warm fuzzies.
Your product or service may fit into one or more of these categories and it’s important for you the marketer to understand which of the categories will best suit your needs as well as the needs of your target market.
I can’t stress enough the importance of portraying yourself as the expert when you are marketing. Your potential customer base doesn’t necessarily know the difference between you and the competition so it’s up to you to educate them on why your products and services are better.
Think about this scenario…If water is free out of the faucet, why do so many people spend so much money on bottled water? It’s all about Target Marketing.
Target marketing also will improve your ability to build your customer list and convert those customers to your downline. Something that is often overlooked in the MLM industry is product loyalty. If you have product loyalty from your customer base there is a good chance that those customers will recruit new customers for you as well as bring new prospects to the business side of your business.
