One of the real “rookie” mistakes made by new entrepreneurs is to completely fail to know her target market. This is something that is very easy to spot. A few of the signs are:
- Her business is not thriving, meaning she needs more customers and she is not financially successful.
- When asked who she works with, she replies “Oh, I work with just about anyone.”
- If asked to thoroughly and completely describe her target market, she is flustered and can't give more than a sentence.
The “Oh, I work with just about anyone” response is one I've heard from both new and not-so-new entrepreneurs many times. So many times, in fact, that it now drives me a little nuts. When someone says that, they are setting no boundaries for who they work with, which is a deadly thing. Let me ask the “just about anyone” entrepreneurs these questions:
1. Does it matter to you if a customer stiffs you?
2. Are you open 24/7?
3. If you were, for instance, a seller of curtains and blinds, would you drive 400 miles to sell a set of blinds to someone?
Of course, the answer to each of these is almost always NO! And that's a good, thing, because that entrepreneur has just started on a path of better describing her target market. Her target market are people who have the money to pay for her products or services, she works with those who contact her during specific days and hours of business, and she has a limited geographical area in which to sell her blinds. This isn't a complete description of her target market, but it is a start.
You can picture the creation of your target market as setting fences and gates around a specific group of people with whom you really want to work. You might not be as blatantly obvious about it as the gatekeepers are at hot night clubs, where one must stand outside on the sidewalk and get personally picked to go inside, but that is one very good example of a business who is very picky about who they want to serve.
I've learned about finding your niche and describing your target market from 3 or 4 of my coaches and mentors, but the one who made me work the hardest to describe my market, hands down, was Suzanne Falter-Barnes. She has a very long list of questions that one must answer to get through one of her platform building classes. The first time I saw that fat list of questions I just about fainted. In fact, the document she proposed I fill out to describe my market was 17 pages long! Still, Suzanne knows her stuff and I was there to learn, so I plowed into the questions. At the end, I felt like I'd invented something akin to a kid's secret playmate. I started getting actual pictures of how my target market person looked, how she dressed, what she spent her money on, and more. I got so familiar with her in that 17 pages of ruthless questioning that I decided I knew her well enough to name her, for Pete's sake! And that is what I strongly suggest you do, too.
My suggestion is to sit down with your computer or a piece of paper and describe a “sample” person from your target market as if she (or he) is a character in a book you are writing, and it's up to you to fill your reader's head with a detailed, specific, colorful image of the character you are writing about. Describe age, education, the kind of work she does, where she lives, her likes and dislikes – anything you can think of that will add to the picture in your head. This may lead you to dig around on the web for demographic or other information.
Spend quality time here, for it pays off in the end. Ask yourself (with pen and paper or keyboard nearby) “who is the most perfect customer for me?” If you have a hard time doing that, prime the pump by listing the characteristics of your most favorite or best customer so far. From there, dream on. Who would be delightful to work with? Who would you dread working with? What characteristics drive you crazy? Who have you worked with who bugs you so much you hope she never calls you again? You get the picture – and that's whole point. For here is a secret about financially successful entrepreneurs:
Those who describe and visualize their target market well have started the process of manifesting exactly that type of customer for themselves. You now have a vision of who you want to attract, in detail. Put that right on your business vision board and keep it in your mind's eye, for who you focus on tends to come your way.
Having this vision and description on hand also makes it easier to walk away from business that isn't right for you, doesn't truly interest you, and has a downside to it. (The downside being that while you are spending time with uninteresting client A, you cannot very well be also working with or running into very interesting and exciting client B. This is called “opportunity cost.”) Realize that it actually COSTS YOU to work with the wrong customer, for you are giving up the opportunity to work with who is just right for you.
Taking the time to dream up your ideal target market person makes finding that type of person much easier. You now know where to focus your efforts. If you are spending a lot of time and money networking in a group of direct marketers, and these are not your target market, it's time to make a change. Pull your time and money from the wrong group, and go find the right group. You'll find more and better business in the new group and waste less of your precious time.
When you are creating marketing plans, writing sales copy, or pulling together a presentation you'll be able to keep your secret target market person right with you, writing to them. There will be less agony over creating these things.
And finally, when you have the opportunity to build a relationship with a potential customer, you will be much more at ease because, after all, you will pretty much feel as if you know that person in a way. You'll be confident that you've spent time with someone who has a much higher chance of needing what you offer. This will shorten your sales cycle and make you more money faster. I don't know of any entrepreneur who doesn't want that!
So, get that blank paper or computer screen and get going. Breath some life into your target market, and you'll breath new life into your business, as well. It's a win-win for every entrepreneur.
(c) Sue Painter
Hi Sue,
This is such an important topic and it’s possible that as business owners we offer multiple products and services. Often the target market or ideal client can be similar for everything we do but there are times when we much identify our ideal client specifically for niches, too.
Write on!~
Lisa
Thanks, Phil. I like your “avatar” metaphor, too!
Sue
The “Avatar” – no, not the movie – but the physical representation of your ideal – down to exacting details such as their favorite books, which clubs they belong to, what type of wine they like and what their greatest challenges are. That way, when you write or talk about them, others that share key similarities will recognize themselves and be drawn to you.
Great reminders, Sue, and I am in awe of the 17 pages!
Phil
hi Sue , years ago I did an advertising copywriting course and learned then to write ads for/ to ONE person – imagining that one person – not ‘everybody’. As I read this I imagined a few of my ‘favourite clients’ – they are very similar and seem to be the people I attract. I love the idea of doing that whole exercise of imagining ‘her’ -right up to giving her a name ( she probably won’t be miriam :)) More likely an Elle or Katherine, perhaps
Thanks for this wonderful post!
Sue – this is such great advice. My business partner and I just completed this exercise for our association and it’s true! You do feel like naming her! I think mine is called “Miriam” – any Miriam’s out there?
LOL at the Miriam, Patricia. But really, it does seem to work that way!
Sue P.
Such great advice and what an excellent exercise to go through. I like the thought of actually naming her too (too funny!) And of course this means you ideal client feels like you are talking directly to them – which is good for you and your client.
Thanks
Trudy
Sue,
This is just fabulous! I know when I sat down and really looked at who my client was I began a huge growth spurt in my business. In fact, 2009 was my best year ever because of that.
And it reminds me that without a target (client, goal, destination) then the chances of getting where/what you want approach zero!
Terry
Sue — this is really excellent advice. I’ve been taught the same thing, and there is such power in having a niche and a specifically identified target market/audience. This post such such a fantastic job of explaining the benefit of being specific and how to get there. Thanks for all the great information!
Yes, I like the “ideal client” term, too. Thanks, Catherine.
Sue
I love your passion and humor, Sue! You are right on with what you are saying. I prefer the term “Ideal Client” because — for me — it brings it to a more human level. Thanks for taking the time to share this great information! You ROCK! ♥
Katherine
Twitter: http://www.Twitter.com/KatherineCHE
Sue,
Thank you for this great article. I thought I had my perfect right client in my mind but I think I need to get even more specific. The questions you pose are excellent and are thought-provoking. OK, I’m going to get to it and drill down even more. I want to vision and manifest on my perfect right client more quickly! Thank you again for the great insights.
Robin
Welcome, Robin! Let me know how your market changes once you work through your questions.
Sue
Everyone needs to read this post when getting started online. In fact, I am going to add this to my training….it’s that important.
I made the big mistake when I first started that “everyone” that wanted to start an online business was my prospect. Was I ever WRONG! What I didn’t realize was that many people who try to start an online business are negative, they are underachievers, they want to get rich quick. I didn’t want to work with this type of person. That’s when I realized that I needed to dig further into my target market and find a niche which were “Leaders who wanted to start an online business”. What a difference!
This is powerful! Thanks Sue!
Glad to know that this blog posting is so useful to you, Christine. Feel free to share it with anyone. And thanks for your comment.
Sue Painter
Hi Sue,
Thank you for your post!
I have to say this truly has been a tricky thing for me. Being an artist I have always made my decisions based on my own inspiration. But, being in business is a whole other ballgame.
Thinking about my target market has actually been a confusing thing because I wonder who I’m truly creating for?
Your post has reminded me to keep asking the questions that will bring forth the clarity.
Glad that it’s thought-provoking for you, Laura. You definitely have a target market – think about those who are more apt to purchase your art. 🙂
Sue
Sue, this is an excellent post. The subject has been such a stickler for me, but I learned something from you….I can describe so much more than gender, age, income level and career/job! When you wrote ’17 pages’ I choked on my tea! So I’m getting busy with a full, detailed description and will give him/her a name.
Lynn Moore
Sorry about the spilled tea, LOL! Let me who you come up with!
Sue P.
Thank you, Sue!
You’re so right, so many entrepreneurs don’t have a clear target market. This is also what tripped me the most.
Thanks for the great article!
Melody
http://www.HandworkTV.com
You know, I have to tell you, I really enjoy this blog and the insight from everyone who participates. I find it to be refreshing and very informative. I wish there were more blogs like it. Anyway, I felt it was about time I posted, I
Hello.
I would like to put a link to your site on my blog roll if you want to do the same for mine. It would be a good way to build up both of our readerships.
thank you.