3 Target Market Lessons We Can Learn from Gold Diggers
Who do you think has a better lifestyle, a prostitute or a gold digger?
I see so many entrepreneurs act like prostitutes. They put up an ad (stand on a busy street corner) for a lot of people to see and hope someone comes along to buy from them. Successful entrepreneurs spend time on figuring out who is the best sugar daddy (or momma) and go after them – like a gold digger. In marketing this is called a target market.
Stellar gold diggers figure out the preferences of their target and adapts to them. They do this by:
Showing up where the target will be
They find out what holds their target’s interest. They read what their target reads
When flirting (advertising) they are only talking about things their target cares about
Their goal is to find someone who will keep coming back to them forever. A gold digger’s secret is they make the sugar daddy think they are the most important person in the world and no one can make them more satisfied.
Don’t waste your money on advertising to everyone (like a street corner prostitute); you will save a lot of money by focusing your marketing efforts on a select group with a very targeted message. Here’s an example: “I service computers” versus “Our expertise helps legal offices keep their computer system secure and running efficiently.” If you were a lawyer, whom would you call first?
If satisfied, lawyers will likely talk to other lawyers about how you secured their system and made them run faster, more so than mentioning it to their doctor or child’s teacher. This word-of-mouth free advertising will spread through the target market industry faster than a mass market.
Let’s take the mystery out of market research. Here’s three ways on how to figure out the needs, wants, fears and issues that appear to be of urgent concern to the target, so you can use it to hold their interest:
Join their association and attend functions they attend. Your goal is to ask questions and listen to the participants, to build knowledge of their needs, wants and fears; it is not to talk about you
Read what they read such as newsletters, magazines and blogs
Follow the social media groups they follow (LinkedIn and Facebook) and search the hashtags they use (twitter and Facebook)
When creating marketing messages, put yourself in your target market's shoes and address their needs, wants or fears.
Have that message appear where the target market will find it. Your print ad will have a lot more relevance if it appears in your target market association’s newsletter or be hanging off a water bottle at a conference than in your local newspaper. Even better, also be a guest speaker at the conference.
In social media use hashtags that your target uses and contribute to groups that they join; these will be seen more than an untargeted message.
Bonnie O'Toole is a Business Consultant and Trainer who believes in the pursuit of prosperity and can help you turn your ideas into opportunities. Learn more at how she can help you at www.marketpursuits.com
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