Define and Identify your Target Market

define and identify your target marketEarly on in the process of planning your internet marketing strategies, you need to get a clear picture of your target market; define and identify exactly who they are, then write a clear and concise description of your ideal client.

Identify your Target Market

Here is the definition of ‘target market’ from the Entrepreneur Encyclopedia:
Your target customers are those who are most likely to buy from you. Resist the temptation to be too general in the hopes of getting a larger slice of the market. That’s like firing 10 bullets in random directions instead of aiming just one dead center of the mark–expensive and dangerous.

  • Try to describe them with as much detail as you can, based on your knowledge of your product or service.
  • Rope family and friends into visualization exercises to get different perspectives-the more, the better.
  • Ask your family and friends to describe who they think may be your ideal client.

Here are some questions that will help you identify your target market:

#1- Are your target customers male or female?

#2- How old are they?

#3- Where do they live? Is geography a limiting factor for any reason?

#4- What do they do for a living?

#5- How much money do they make? This is most significant if you’re selling relatively expensive or luxury items (like real estate). Most people can afford a candy bar. You can’t say the same of a house.

#6- What other aspects of their lives matter? If you’re launching a roof-tiling service, your target customers probably own their homes.

Let’s Define a Realtor’s target market.

I want you to think back over the sales you completed in the last year. Who did you sell to the most? Were they –

#1- First Time Homebuyers, young professionals, 25-35 age group with a child or two in a certain geographical area.

#2- Boomers, down sizing and getting ready to retire, 55-65 age group, empty nesters in a certain geographical area.

#3- Investors looking for rental properties- 45-55 age group with well established careers, may live out of area.

#4- Clients that would buy Fine Homes & Estates 35-65 age group, professionals with money looking to spend upwards to a million dollars on a home, in a certain geographical area.

Check out the demographic’s of your competitors target market.

Go to Alexa.com and type in your competitors website address. In the next screen click on Get Details, then in next screen click on Audience just above the graph.

Scroll down and add your competition’s domain names to the Advanced Demographics. You can get a clear picture of who you are actually reaching here, and who your competition is reaching. Click through the buttons at the top.

It is important to write out a clear description of your Target Market or ideal client. Keep it short and simple:

“My ideal client would be a First time Home Buyer, between the ages of 25-35, with some college and an established career, and the live in the Modesto, CA area.”

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