We’d all love our product or service to appeal to everyone but you’re living in a fool’s paradise if you think that’s possible, or that it’s good marketing. Trust this old copywriter when I say that the right words into the right ears will get your much further than taking a megaphone to a crowd of people.
What are the right words? Well, that’s for another time. Today I’m going to tell you how to find the right ears.
Here are 23 questions you should be answering to find your target market – the group of people who are most likely to buy from you.
That’s a really important distinction by the way. You might attract (and welcome) many types of customers but it’s worth aiming your marketing at the people who will spend their cash with you. That’s when you can start talking about your marketing ROI.
The first step to work out who your target market is.
Your existing customer base is a pretty good place to start to spend some time looking at:
1. Who already spends their cash with you? And what are they like?
Outside of your existing customers, think about:
2. Who gains the most from your product or service? And what do they gain? [this is based on the benefits your product or services offers]
Then it’s time to dig a little deeper to define your target market
3. Where does your target market hang out? [Socially and for networking]
4. What does your target market do in their spare time?
5. Who does your target market look up to? Who do they aspire to be like?
6. What really annoys your target market?
7. What worries your target market, especially about solving this issue?
8. How does your target market approach spending money?
9. What are key traits/ qualities of my most profitable customers and the customers I most enjoy working with?
10. Is age an important factor in buying your product or service? If so, what age?
11. What kind of people does your target market hang out with?
12. Which trade shows and exhibitions does your target market attend? Or present at?
13. Which groups, associations, and clubs do your target market belong to?
14. Does your target market usually know what they are looking for (specifically)?
15. Which training sessions, seminars or events does your target market attend? Why do they attend?
16. Does your target market participate in any forums? Which ones?
17. What does your target market read? [magazines, trade publications, blogs, newspapers]
18. Who does your target marketing follow on social media?
19. What does your target market listen to and watch? [radio, television, youtube]
20. Is geography important to your target market? If so, where do they live?
21. How does your target market evaluate price vs value?
22. What is the most important aspect of their life?
23. What is your target market afraid of?
You might notice that most of these questions are not about the demographics of income, race, sex, location etc. That’s because the psychographics of what motivates your target market are much more useful to you. The WHY is essential for every question.
This kind of market research will not only help you define your target market, they will help you identify target market niches that you might not have considered or who aren’t being looked after yet!
Remember: You may have multiple target markets. You don’t have to put all your marketing eggs in one basket but keep in mind that you should be targeting the groups that will give you a return on your marketing investment.
How do you work out your marketing targets? Can you add to the list?
Belinda
27 Responses
Great questions, Belinda! I was just listening to an old Dan Kennedy “Magnetic Marketing” recording today while riding my bike and he was talking about the same thing: matching your message to your market. Love your questions – especially the social media ones you’ve added.
Thanks Scott!
Finding the right market isn’t something we all do as well as we should (including me), because it’s easy to just see who comes in and role with it but really profitable marketing comes from finding those people with the cash and the inclination to spend!
Thanks Scott!
Finding the right market isn’t something we all do as well as we
should (including me), because it’s easy to just see who comes in and
role with it but really profitable marketing comes from finding those
people with the cash and the inclination to spend!
I agree. The ones who do that well do well in business!
One of the most useful questions I use to identify a target market is: “If there is one customer you could clone, who would it be?”
Then you can explore what qualities make that customer so good, and draw up a profile of the target customer/market based on that.
That’s a great way to approach it Charles. I often remind my clients that they should be thinking of the clients that are the most profitable and the ones they love to work with …. not just the people who fit their product or service.
Thanks for commenting!
I am a student trying to write a design brief for an assignment. How do I find the answers to these questions to discover who my target market is?
Hi Rachel, Finding out the answers is where good market research comes in. Here are a dozen low cost ideas for market research that might help get you started. Good luck!
Chief Hardy RI Rangers
I have found that knowing what they need is not enough, is
not he whole answer you must be able to explain their risks, and outline a solid plan to answer there needs.
Very true but before the planning comes the understanding. I’m sure that’s a country and western song title… ?
Thanks for commenting Chief.
Thank you Belinda – this list is so practical and valuable. Thank you for sharing this!
Thanking you Kay!
Proofing, to help.
22 Questions. #9 duplicates #4.
Perhaps replace with Charles C’s question. What are key traits/ qualities of my most profitable customers and the customers I most enjoy working with?
Wonderful list and insights. Thank you!
Thanks for letting me know about the questions — wonderful suggestion! 😀