target, v., n. \tar-get\
targeting target market target marketing
Part of growing your business is building your customer base and increasing sales. But casting a wide net and seeing if you catch someone interested in your product or service is a waste of time, effort, and money.
You can’t, and shouldn’t, be all things to all people. Your job is to identify who finds the most value in your product or service. Is it moms who want a lightweight stroller? Men and women whose work requires them to stay awake all night? Teens with allowance money to spend? Retirees looking for investment advice?
The process of sorting out all potential customers and targeting those you can best serve is called target marketing. You can envision the target, with rings full of potential clients. Where you want to aim is the bulls eye: the people who find value in what you can provide them.
The benefits of target marketing are two-fold. First, it makes it possible for you to determine where and how to promote your business: an ad in a parenting magazine, late-night radio commercials, promotions on Facebook, a free seminar at your public library, etc.
Second, targeting allows you to get to know your target market and perfect your business’ offerings to provide as much value as possible.
Go ahead and help your target market see your company for the valuable products and services it offers—if you’ve set your sights on maximizing your resources to grow a strong, sustainable business, target marketing is an ideal strategy.
