Branding Strategies Training 201
Defining Your Target Market
The Concept Of Mindset Marketing & Interest Networks
This Branding Strategies article can also be found in the “Getting Started” series, under Target Marketing.
You can talk to almost any business owner and ask them the same question, and a generic response almost always results. The question is, “Who is your target market?” No entrepreneur wants to limit themselves by narrowing down their target audience, and thus lose sales opportunities as a result! On one level that makes sense. On another, it is one of the worst things that you can do for your business.
If success for your company depends on meeting the unmet wants, needs and desires of your target audience, then you are setting yourself up for failure if you are trying to be too many things to too many people. By doing that, you will never be able to uniquely meet the needs of any audience really well, thus earning their business and loyalty. Your business success lies in a large part in doing what you do better than your competition. That means that you need to be better at defining your target market in order to develop products and services that are better suited to meet that market’s needs!
I cringe when I hear small businesses say that their target market is other small businesses. While this may be generically true, I guarantee there is a sweet spot within the universe of small businesses that is a much better market for them, one that still represents a huge volume online. Niches online, because you can so efficiently reach so many prospects, most often represent large volume opportunities.
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