Defining your target market clients is a key element to generating consistent referred business of the type you want. When you can articulate your target market perfectly to your referral partners their ability to refer you increases massively. When your target market clients are aligned and fit perfectly with your why and your Vision and Mission it makes it easier for your referral partners to identify them.
What is the definition of a target market? A Target Market is a group of customers that the business has decided, because of it’s Emotionally Charged Connection or why, and its mission and vision, to aim its marketing efforts and its merchandise towards. A well-defined target market is a fundamental element to a winning referral marketing strategy. This means for our Asentiv clients its more about connection, than just the the ability to access a clients cheque books. This ability to connect with a client at a deeper level, makes them behave in a way that’s much more dependable, loyal and means clients tend to stay longer and spend more.
When people believe what you believe, price is no longer an issue. They will stay with you longer. Buy from you more and refer you more often. By training you referral sources and partners in who you are looking for and why, it makes it easier for them to identify the right clients for you.
So do you know how to identify your target market clients? Here are ten top questions to help you do just that.
- What do my ideal clients look like?
- How would you describe them demographically?
- How would you describe them psychographically?
- Where are they geographically?
- What organization do they belong to?
- How does this target market match your Emotionally Charged Connection® values, vision, and mission?
- Are they in a particular profession/industry?
- What do they benefit from working with you?
- What do they get out of being a client of yours? Look for benefits vs features. You want benefits.
- What benefit do you derive from them? Again, look for benefits vs features. You want benefits.
As you can see there is a lot of work needed to clearly identify your target market clients. However it is worth putting in this amount of effort as you will improve your chances of getting the type of dream clients you want to work with on a much more regular basis.
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