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Sniping The Target…(Audience that is!)

17 Apr, 2009 Phil Starting Up

successWhat makes a successful Business?  Is it the annual revenue?  Or maybe the profit?  Is is more customer satisfaction and experience?

Every owner will undoubtedly have their own idea of becoming ’successful’ – some when they can afford their Bentley or Rolls etc.  I guess for me, a successful business is all the above, but a particular importance must be made on improving and offering the very best service tothe customer/client.  Without customer experience, people will leave your company for competitor A, who takes better care of them, thus reducing your revenue, reducing your profits.

The world revolves around customer satisfaction, and businesses must realise that the customer is always right.  There’s a known saying, that a happy customer will tell another person about you, but an unhappy customer will tell ten people about their complaints.  It’s true.

So how the hell are you meant to keep all your customers happy?  Surely you can’t please everyone… can you?

I scanned the internet this morning, and came across an interesting page at www.jobbankusa.com who list the top 10 criteria when choosing your market:

Whatever target market -TM- you choose, check to see that it meets the following 10 essential criteria:

1. Your TM has a big problem. They think about it all the time, it keeps them awake at night.

2. Your TM wants the problem solved. The impact and cost of the problem is big enough that they will act to solve it (some people have problems they are quite happy to live with!).

3. You can easily find your TM. Do they belong to associations? Are there conferences for this target market? Are there publications? Where do they hangout? If it’s not easy to find your target market, it will cost you a lot of money to find them.

4. Your TM has money to spend. No point having a terrific service if your target market hasn’t the money to pay for it. I know this sounds basic but it’s often overlooked.

5. Your TM has a history of paying to have this problem solved. You want to focus on a target market where there is a proven track record of problems and people paying to solve them. A good sign is if your competitors are selling similar services to the target market.

6. There’s enough of your TM out there to sustain a business. How many people or businesses are in your target market? Realistically how many will become your clients and what will that be worth to you? Is that enough?

7. You enjoy working with your TM. Think about what types of people are in your target market and visualize being with them day in and day out. How does that feel? Will you feel energized or drained at the end of the day? Remember, you are also in business to enjoy yourself so make sure you will enjoy working with this target market.

8. You have a passion for helping and serving this TM. Passion is an essential ingredient for selling your services.

9. You have valuable expertise and experience you can offer. Your target market will want to buy from people who are experts in their field. Think about what specific expertise and experience you can offer your target market.

10. Your TM fits with your ultimate lifestyle package. What hours do you want to work? Where do you want to work? How do you want to work? Does this fit in with your target market? Ensure that working with your target market will enable you to live the kind of life you want to live.

Once you have found your target market, the next step is to refine it even further. Decide on the profile of your ideal client. What sort of person are they? Decide on their demographics and psychographics. Demographics are the basic facts like age, gender, income, location, etc. Psychographics are their characteristics, values etc. This will enable you to focus even more.

The clearer you are about who you want to do business with, the more you will attract exactly the clientele you’re looking for. You will then need your Sales Conversation skills to convert them from prospects into clients.  A handy tip I did when targeting an audience, was to visit review sites across the web for reviews of competitors, read people throughts: what they thought was good and bad.  I used the good stuff, and fixed the bad for Project X.  Win-Win.

Anyway, I have a few things on today, so this is Phil Owen, signing off…

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About Phil

Phil is creative director at PSM Digital but also freelances with web design and SEO in Manchester, UK. He researches and studies online business, along with the latest technological advances and development in design, SEO and social media.

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About The One Man Mission...

Hi I’m Phil. Welcome to my blog, where you’ll find useful information on web design, development and online business advice.  I’m a creative director for a digital agency in Manchester, UK and I also freelance web design also.  Currently setting up and developing a new online business, I am here...

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