Target Market Profiling: How Do You Create One?

Posted on 21. Jan, 2013 by Faye Bond in Blog, Bond Global Enterprises, Internet Marketing, Marketing, Online Business, Strategic Marketing Roadmap

Target Market Profiling: How Do You Create One?

Definition of Target Market: A specific group of people at which a company aims its products and services.

Much has been written about finding the target market, but not everybody does it. Part of your Business Plan is about creating your target market profile. Once this market has been defined your marketing resources will be used more efficiently and effectively.

When researching to find your target market resist the urge to generalize and go for a larger slice of the market. Not only will you fail to reach your target market you will lose money, both from lack of sales and your marketing budget.

Aim for the bullseye by pinpointing your target market is the only way to effectively and efficiently increase your sales and subscribers.

Now let’s talk about how you are going to define your target market.

The first important key element to defining your target market profile is to know what benefits your products and services provide. A quick way to find the benefits to your customers is to answer these 4 questions in one minute or less, emphasizing the benefits that your customers will get from you.
•    Who are you
•    What do you sell
•    Why are you in this business
•    What do you do for your customers

Your aim is to get to know as much information about your existing or prospective customers as you can. The more you know about your customers the better you can give them what they need and want. Every person has basically the same needs and desires and they buy because it feeds an important need. The more you know the better you will be able to communicate as you will be speaking their language.

Rather than having a mental picture of a group of people, visualize just one person at a time that you can market to. Having a concise description of a one-person target market profile will allow you to talk directly to that person when you are writing your copy. That copy may be your home page, sales letters, articles or emails. 

Take some time to visualize your one-person target market and give your profile a name. This way you can talk to them just as you would if you were face to face. I will use a made-up name of ‘TC’ to help you visualize as you read. TC can be either male or female.

There are 4 ways to creating a target market profile.

1.    Geographics: Where does TC live, country, urban or rural and climate zone?

2.    Demographics: What is TC’s age, marital and family status, occupation, education and income and is it disposable income?

3.    Lifestyle: What is TC’s life-style, personality and behavior? Does TC have any hobbies and interests. What needs, problems and desires does TC have?

4.    Dreams and Ambitions: What goals and aspirations does TC have?

It used to be common practice among business owners to market their products to a specific age group, 18-45 year old. To market to a general group is now a thing of the past. Since the early 1900s generational marketing has been used. This defines customers by age, social, economic, lifestyle and behaviors.

Will this one-person profile you will be better able to focus on creating your branding, and products and services. That’s why you have a one-person profile.

Who is TC to you? Can you Identify the one person you want to target your products and services?

Faye Bond

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Tags: customers, Online Business, Target market, target market profile

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