6 Steps to Successful Target Marketing: #1 – Discover

DISCOVER * DISSECT * DISCERN * DESCRIBE * DEVELOP * DIFFERENTIATE

Discover

Is your product (either tangible or service) for absolutely everybody?

Probably not.

Focusing on who your “target” buyers will be, is the first step in discovery. If you have a micro-small business with a retail brick and mortar location, you must discover who in the neighbor has been trading with you, and you may be on your way of understanding your target market.

If you have a cyber-business, discover who it is that is going to your site, how long do they stick, what pages are of interest to them…and you begin the process of discovery.

Discovery is simply being aware.

One client noted that those people who came to her for financial advice seem to fall in these categories:

~     Newly married
~     People in relationships but not married
~     Female recent college graduates
~     Divorced women
~     Single moms
~     Females in the workplace
~     Women in management

What do you discover when you look at that list? Hint:  She now had a focus for her practice that she had not articulated.

IF you need some objective, 3rd party help in working through your target markets, click here – the initial contact is FREE.

Copyright ©2010 by P. Griffith Lindell

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SHARE YOUR STORY

Please, share your journey of the Discover process by using the comment section for this blog. These questions are only thought-starters:  you may have something else to share.

Have you determined your target market?

What did you learn in the process?

What was the result (what changed)?

What advice do you have for others who need to do this?

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6 Responses

  1. Good thoughts. Clearly the process of “discovery” as you term it requires “Customer-Centric” thinking. This is a lot harder than it sounds because of the lack of objectivity many companies have. When I hear my clients start to say “but…” I know I have to turn to hard research. Looking at the target audience from the perspective of their needs helps to discover not just who they are, but how to communicate to them.

  2. As a business, you need to know the classification of customers that are currently buying your product/service. This is profiling (not a dirty word in marketing). This is necessary if you are Business to Business or Business to Customer. A profile determines the best way to reach your customers and potential customers and to reach them in the least expensive manner. A very successful women’s fashion line, Liz Claiborne has built a profile over their years in business that is almost perfect. The profile is named Liz Lady. They only make and sell clothes that fit the profile. Seldom do they experiment outside of the proven success of the profile.
    You probably know the various factors that would make up your customer profile. List all of the characteristics of your customers that you have noticed. Then ask any employees to review your profile and add factors that they have recognized. Some of the factors that make a profile are gender, age, income, education, location, type of product they purchase from you, etc. In a B to B situation consider, location, number of employees or sales, type of industry, products or services they purchase from you, why do they buy from you?, how often do they buy? These and other characteristics will build you a profile of your customers
    You have to keep updating your customer profile, because your customers may change. Many small businesses fail to realize that their customer base has changed until it is too late.

    • Kent’s direction is so desperately needed not only in B2C, but also B2B – reminds me when I asked clients in a high tech B2B workshop to discover insights about their customer by giving them a name, typical education, typical day – discovery begins by looking at what you think you know about your customer.

  3. Clearly you the business owner (seller) needs to articulate to your favorite buyer the benefits of your product or service and how that salves the pain that customer is feeling. For the customer to understand this you need to craft this message in the language the customer uses – this says that you must not only know who the customer is (profiling as Kent S. says above) but you also need to shut up and listen to the customer.

    Don’t try to sell to everyone when only certain buyers want or need your product/service. Makes more sense to ascertain who these favorites are and if it makes economic sense, concentrate your efforts there.

    • Shutting up and listening to the c customer is a risky behavior – it takes courage to listen. I agree with Ami – listen and learn and then let the “learnings” help you concentrate your marketing efforts.

  4. Discovery is indeed extremely important. Several years ago, when business was very slow, I decided to try to understand who our favorite customer were and what they were saying to us. I very soon ‘discovered’ that the bulk of our revenues were coming from as usual about 20% of our customer base but that we were emphasizing the wrong services. We thinned out our customer base, concentrated on adding more of our favorite customers, sharpened our marketing message using the language of our customers as Ami points out above and our revenue stream and our profits showed great gains.

    This stuff works.

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