Target Marketing for Small Business

Posted on | August 19, 2009 | 1 Comment

There are lots of potential customers looking for your product or service, but how do you find them?  There are 320 Million people in the United States.  And, there are 6.76 billion people worldwide.

But which ones really want to buy what you’re selling?

And how do I find them?  Talk to them?  And make it clear to them that I have what they want or need?

Target marketing.

All marketing should be targeted.  This is not a new concept.  I’m not saying anything revolutionary, but I am forever amazed at how many businesses fail to target their clients.  Ironically, it is easier today than ever to target your market.

I can’t explore this topic fully in one blog post, so I have two hopes here:

1.   Please increase your awareness of the concept.  Review your marketing plans this week and determine if improvements can be made to target your efforts on your likeliest of clients.

2.    Consider your existing or former clients first.  That’s the easiest and most cost effective way to target your marketing.  Think about it.  Your existing clients have already purchased from you.  They trust you or your product/service.  You know they have needs or wants for your product/service.  They might buy the same product/service again, or they might want or need related products or services.  Maybe they would upgrade?  Maybe they need a replacement?  Maybe there have been changes in your products, services, the law, technology, or other circumstances that would cause your customer to buy again or upgrade.

Consider this. . .  your clients are likely to know other potential clients with similar needs, desires, wants, etc.  Music lovers know other music lovers.  Dog lovers know other dog lovers.  Etc., etc., etc.  So, if your past clients are not in the market today to buy your product/service, those past clients might be in the market in the future, AND they probably know others who would buy from you.

Again, I’ve not even started to describe the methods to target market, but becoming aware of this important concept is the first step in the process of targeting your buyer.

In future blogs, I’ll explore specific ways to target your market.  I’ll share specific examples.

Matthew A. Griffith is an attorney, business performance coach, mentor and entrepreneur.  He coaches, advises and guides business owners, entrepreneurs, inventors, property managers, investors and real estate professionals.  Matt has nearly two decades of experience starting small businesses and helping businesses grow.

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