You can’t hit the target if you don’t have one
As I’ve said many times before, the better the target, the more likely you will hit it. Sadly, most people select too general a target – don’t fall into that trap. If you market to “women,” you have no target because you are aiming at half of the world population. But you can easily identify a number of specific markets within any general one. If you market to women, go after women who are real estate agents, or insurance brokers, or women CEOs, or young mothers who work from home, or post-menopausal women who live in Florida.
You might come up with a revolutionary product or service, easy to order, easy to ship, and with a worldwide market needs. It sounds great, but if you can’t reach a high number of potential buyers with your marketing message easily and inexpensively, you are doomed to fail.
So, identify VERY PRECISELY your target market and get to know the pressing problems of people in that niche. Find out what is their biggest frustration. What keeps them up at night? What are their biggest wants and unsolved problems?
No guessing and no assumptions.
You need to KNOW…
Sure, it will take work and time. Consider that your necessary business investment. There is a reason why successful companies invest a lot of money into research.
Identify where can you find your target market in large numbers. Which web sites do they visit? Whose advice do they already value and listen to? Which newsletters do they read? Who are their favored vendors?
Chances are that you already have a specific niche market – if this is the case, great! If not, do some research online and see if you can easily (and inexpensively) reach that market via discussion lists, forums, newsletters, web sites, etc.