Dec
22

Getting to Know Your Market: 101 Marketing Strategies

By

Customized Marketing Solutions for Entrepreneurs

I am in the process of conducting a survey for small bussiness owners and entrepreneurs (you can take it here if you like: http://bit.ly/6JOfDW).

The answers to one specific question are very telling, in my opinion. It seems to me that most entrepreneurs and small business owners think they know their market – most of the ones that I know personally believe they do (until I start asking more questions…).  In fact, the survey results show a very large number (almost 98%!!) believe they know exactly who their target market is. I would venture to say that if that is the case, then all of these businesses would be very successful. Now, I know some of them are, but from some of the ‘data entry’ areas in the survey I know that not all of them are.

What does that mean?

It means that the foundation of the entire marketing plan for these entrepreneurs is faulty. If you don’t start with a clear picture of exactly WHO you want to reach, then as you structure your message and choose your medium you won’t have any idea if you will reach your target client or customer. Imagine if you are a ladies shoe company, and you decide to market to anyone who wears shoes. Do you think that a large portion of your marketing dollars will be wasted? It’s an over-simplified example, but it’s representative of how most entrepreneurs and small business owners approach their marketing.

Start at the beginning – get to know your market! Want to know more about how to do that? Click here for information on our upcoming free teleseminar on 3 deadly marketing mistakes that can cost you thousands, getting clear on your market – and you can even ask me a question.


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Comments

  1. pfcoop says:

    How well do you know your market? Share some of the specifics of who your ideal customer is…

  2. […] of Marketing post I talked about the essentials of the 3 M’s of Marketing. The first, knowing your market. The second, defining your message, and the third, the delivery of that message to your market via […]