Find out why that’s so wrong in today’s Monday Media Marketing Minute.

Post from: EveryJoe

Monday Media Marketing Minute: Narrow Your Market

No matter what product you have or service you can provide, it’s easy to let your excitement get the best of you.

We’re bombarded with marketing messages telling us about all of these “get rich quick” stories and pounding out “how-to” books for every thing imaginable.

It’s important to understand that these are often not the case, and they are capitalizing on your enthusiasm.

And with all that excitement, many people miss the basics.

Last night I was teaching my Happy Holidays: Your Guide to Getting Free Year-End Publicity class. And I was stunned to learn that many people on the call still didn’t have a clue about who their target market really is.

Most we’re so general about it, I wasn’t surprised they were struggling to make a living! But still, they insisted they knew it all.

Knowing your target market is probably THE most important part of building a business. It’s important to understand that regardless of whom you think you customer is and what kind of market your selling to, there’s a good chance you don’t truly know.

This kind of thing comes with experience, and that’s something people don’t have when they are starting up a business.

My advice? Sit down with a professional, someone who can put to rest a lot of the assumptions you probably have. The enthusiasm is like a blindfold, and until you have someone take it off for you, you are blind to your business’s success.

Post from: EveryJoe

Are you a know it all?

Here are some steps to find out more about your target market.

Step 1: Go to www.google.com

Step 2: Identify key words that describe your target market and service/product offering

Step 3: Run a search on each of those keywords

Step 4: Research the top 10 Sites that show up on Google and the sponsored links on the right for the following 7 Key Market Research Questions :

1. Who is the company and principal of the company?
2. What products and services are they trying to sell?
3. At what price point are they offering these products and services?
4. Who are they targeting? What are the demographics of their target audience?
5. How are they delivering their product and service?
6. How are they positioning their product and service?
7. How are they promoting their product and service?

Step 5: Create a one page document for each company that summarizes the key questions and then one final executive summary of all 10 sites comparatively. Use this information to create and position your own marketing strategy.

Other Ideas

• Ask your existing customers by:
  • conducting a survey
  • holding an informal focus group

• Get media kits from magazines that your target market reads
• Find other businesses who target your market and ask them for help

(photo courtesy of Shannon Cherry of Be Heard Solutions)

Post from: EveryJoe

Easy market research

In this exclusive audio series for Start Up Spark, I’ll be sharing the winning strategies that will help any small business owner build a solid foundation to achieve success.

Today’s lecture:

Know, Love & Trust Your Customer

So many start ups fail because owners think they have a really cool idea, but have never checked with their target market if the cool idea is cool enough for them.

While listening to this audio program, ask yourself this question: How can I improve the lives of my customers today?

Post from: EveryJoe

Startup Spark Podcast #4: To Thy Customer Be True