Posts by David Wood

Until you’re clear on your target market, it’s too easy to wander aimlessly, wanting to help, but unable to. It’s like trying to run with your shoelaces tied. When you are clear on who you want to help – your “target market” – you’ll want to tell everyone who’ll listen and forge ahead with energy.

A target market or niche is the group of people you’ve decided to help. You can narrow it down in lots of cool ways, including age, income, where they live, occupation, or what they need. A target market is very specific and helps you to focus your marketing efforts. Without it you can get too scattered to succeed.

Many people ask, “Why do I need a target market? Why can’t I offer my services to everyone?” After all, why would anyone want to turn away customers? It can feel limiting.

However, choosing a niche or group of people to focus on doesn’t keep you from working with other people outside of your niche.  You’re still allowed to work with others when and if they come to you. Surprisingly, it increases the number of people who come to you because you’re more attractive; you’re clear, focused, working with the right clients and happy. More importantly, it makes it so much easier for the right clients to find you!

For example – you can happily serve everyone who drives into your gas station. But you need something clear and specific like “Serving veterans since 1985” on the billboard out the front.

To take another example, say you’re an accountant who owns your own business, and you’re looking for a coach to help take your business to the next level. Who would you most likely sign up with: a general business coach, or one who specializes in helping accountants build profitable businesses? Intuitively you can see that someone who specializes is more attractive!

Your own experience probably shows you that you are not attracted to products or services designed to help “everyone.” If you’re a woman, don’t you prefer bath products that are designed for women? It’s the same for your customers: people like to purchase solutions that are specific to their problem.

In addition, if your target market is “everyone,” how do you reach everyone? Do you have the money to advertise on network television? Do you have hundreds of thousands of dollars to place advertisements in USA Today?

On the other hand, what if you are a business coach who helps accountants grow profitable businesses? Knowing your target market, you home in on them through accounting magazines, at CPA conferences, or even through local stores that stock accounting office supplies.

Another problem with not having a clear target market is that you can’t be remembered and referred. People can’t pass the word about what you do if even you can’t tell them. Have a sexy statement that sizzles and they’ll be able to tell the world.