by Nick D'Alessandro, posted 12/16/2016
Whether you’re just starting out or you’ve been in business for a while, no doubt one of your top priorities has been zeroing in on your target market.
You’re probably aware that the more you define those who are most likely to purchase your product or service, the more your business will grow and your customer acquisition cost will shrink.
Could you be wasting your time and resources marketing to people who may need your product but aren’t willing to buy?
Don’t fall into the target market trap!
What is the “Target Market Trap”?
There’s a big difference between someone who needs your product and someone who is actually going to make a purchase!
For example, to a nutritionist, a person with high blood pressure or cholesterol is an ideal candidate for their services.
However, a person’s need for a better diet doesn’t mean they are ready and willing to choose a better diet as a solution to their problem.
Conventional medicine may seem like an easier fix to a person who doesn’t want to radically change their diet or their lifestyle.
The person has a need for the nutritionist, but they’re choosing a different route.
In this case, the need does not equal a guaranteed customer.
The same is true for your product or service.
How Do You Avoid the Trap?
Set your sights on those who not only need your product but will actually pay for it.
Here are a few tips to set you on the right path:
- Do your research.
Locate people who already have an interest in a product like yours by finding out what they read, where they shop, what groups they belong to, where they hang out, etc.
- Partner up.
Find businesses that already sell products or services to the same market without it being a conflict of interest.
- A website that works.
Make sure you are optimizing your website with the right keywords so the people who are searching for solutions like yours will FIND YOU!
A Final Word
Just to clarify, a person in your market who isn’t ready for or open to your solution can still be a potential customer.
It may just require more time and resources to convert this audience.
That being said, the people who are open to and searching for products like yours should become your ideal market.
It will be easier and more cost effective to convert this audience into customers.
The bottom line is this:
Don’t be content with simply identifying the people who need your product. Instead, dig deeper and find the people who are actually willing to buy your product!!
Wishing you much success!
About the Author
Nick D’Alessandro is a small business strategist and founder at Trilojeemarketing.com. He is excited to share his 30 years of business experience by helping small business owners grow their business and fulfill their career purpose.