9 Reasons A Target Market Boosts Your Business’ Sales

young peopleThe phrase you can’t please everyone is a saying that’s true in life and in business. Targeting everyone is really targeting no one so you have to identify and serve a particular consumer group called your target market.

Simply put, your target market is the customer base that you’ll be targeting directly with your products and/or services. These are the people or businesses that have a need for whatever it is that your business has to offer. It is identifying specific characteristics of people most likely to buy your product or use your service. An example of a target market can be “fashionable, university-educated 18 to 29 year-old males.” This can be the target market for a clothing brand.

Every business needs to have a defined target market. You may say “I don’t have a defined target market yet I have been making sales” That may be true but your business would be a lot better if you target a particular market(s) best suited to your product or service. Why? Well you will more quickly meet and surpass your sales goals (I hope you have one) if you have an idea of who your target market is and deliver to that market.

Here are nine other reasons to have a target market for your product/service;

  • You will make more sales. This is because the people in this target group will be perfectly aligned with the value your product provides.
  • Less time & effort spent on promotion. You won’t need to put nearly as much time and energy into making others aware of your product/service when you have a well-defined target market. You would now approach the right people with your product/service instead of everybody –many of whom aren’t interested in what you have to offer or who wouldn’t benefit from what you’re trying to sell them.
  • Better products/services. When you know who you’re serving, You can then create something specifically for them that meets their specific needs and desires. Effectively meeting the needs and desires of your customers equals more sales for your business.
  • It ensures that the products or services you offer will actually be profitable. The last thing you’d want to do is to start producing a product or offering a service only to find out later that it was all for nothing because the consumers you thought would be interested in what you’re doing really aren’t at all intrigued.
  • You can determine how much your customers are willing to spend on your product/service and how often they’ll need to make purchases.
  • You get a sense of satisfaction. There’s this sense of satisfaction you feel (hopefully) when you are effectively meeting customers’ needs and desires. You are improving the lives of people and making money in the process. Now that’s something. This is motivating and will lead to a more sustainable, more energising, longer-term business.
  • It gives you clarity in your business. If you have a target market, your marketing efforts will be focused- ie better products, you’ll know what price to set, how to effectively reach your market and promote your products/services. Also you’ll know what to prioritise.
  • You will know where to find new prospects. When you know your prospects, you can know where they are and how to reach them. All you need is a little research. This is much better than making a product and hoping that someone notices you.
  • You are more likely to get repeat customers. People who receive products and services directly tailored to them become happy customers. They will return because they know they receive targeted value, and because you have shown to care about their needs.

Build a better stronger business today by identifying and serving a particular group of people (customers) instead of just everybody. So ask yourself, who are the best types of people /businesses i should be targeting? This is crucial to growing and sustaining your business.

“There is only one winning strategy. It is to carefully define the target market and direct a superior offering to that target market.” -Philip Kotler

Comments are welcome.

Emem Ita

Emem Ita

Hello, my name is Emem. I'm a marketing & social media strategist with a flair for reading, research, pretty shoes and luscious cake.

I help Entrepreneurs, Coaches & Trainers Move From Struggling Online To;

*Increasing Their Online Visibility & Influence even if they are introverts
*Consistently Attract Customers Online

Download this online customer attraction checklist and start consistently attracting customers online. Click this link to download http://bit.ly/2wwzJ1u

Schedule a free strategy session with me by clicking this link http://bit.ly/2hLXfoC
Emem Ita
About Emem Ita

Hello, my name is Emem. I'm a marketing & social media strategist with a flair for reading, research, pretty shoes and luscious cake.

I help Entrepreneurs, Coaches & Trainers Move From Struggling Online To;

*Increasing Their Online Visibility & Influence even if they are introverts
*Consistently Attract Customers Online

Download this online customer attraction checklist and start consistently attracting customers online. Click this link to download http://bit.ly/2wwzJ1u

Schedule a free strategy session with me by clicking this link http://bit.ly/2hLXfoC

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