You have great ideas and skills to match, but you're thinking, "Why exclude anyone who can benefit even slightly from my services? There are so many people who need help!" First of all, congratulations on recognizing your passions and becoming an entrepreneur! Second, you can't help everyone, but you can get really good at helping a select group. A target market will give you a clear focus and make your marketing easier. You'll become an expert in your field. Plus, you can build up a network of colleagues in your industry (health coaching, graphic design, etc.) who specialize in something different. Build a referral network.
Reasons to narrow your target market:
+ You'll eliminate some of your competition. + Research will be easier (both to find clients and to help clients). + You'll be able to focus your marketing materials, blog posts and newsletters more easily if you know who you're writing for. + You'll get to know this group's specific problems intimately and become an expert. (Tip: You'll be able to charge more if you specialize.)
Questions to ask yourself:
+ What groups are you already part of? (Spiritual, hobby, organizations or other specific groups.) + What health issue or life obstacle have you overcome? + Do you have a specific passion close to your heart? Maybe a family member or close friend has dealt with a life-changing event. + What industries have you worked with in the past? What expertise do you already have?
Beginning steps to choose a target market:
+ Write down 3 target market ideas, with at least one being somewhat larger than the others. Is there any overlap? For example, "Young Women" and "New Mothers." You may want to try targeting "Young First-Time Mothers" + Do your research. Is there a need in those markets? Can you solve a problem for them? + Make a list of where you can find this group. You want to hang out where your target market is, not where your competition and colleagues are. This includes both in-person and online locations, such as the local yoga studio or an online forum.
Get to know your target market:
+ Can they afford your services? + What problems do they face? + What do they fear? + What goals and dreams do they have? + How do they spend their leisure time? Careers?
Answering these questions will give you a great start. Now it's time to start connecting! Get over to that yoga studio, local park or online forum.
Remember: There's nothing wrong with starting where you are and adapting later. This goes for marketing in general, too! Check in with yourself every 3 months and make sure this is the path you want to be on. Check your Google Analytics to see who you're attracting with your website. Don't know about Google Analytics? We'll get to that later :-)