Harrison & Associates blog has an interesting piece on the myriad possibilities of online marketing. You have the ability to move fast, test different methods of driving traffic from any particular target market. One example sited was the stay at home moms – dads – parents (WAHM) market.
When you prepare to launch a new business, product or service one of the first questions you need to ask is, “Who is my target market?”. The answer may surprise you.
I was in a meeting the other day and that very question came up. We were planning to start a new campaign to restart sales in a product line that we carry. When I asked the question to my partner his response was, “We want to sell to everybody”.
That may work if you are Amazon.com or Nike, but a small business will go broke with that attitude. Successful online marketers are successful because they understand the
necessity of marketing to a particular niche.
A prime example is one of our capture pages for our Perfect Wealth Formula product: www.WorkAtHomeParent.net. The target market is work at home parents or parents who are interested in starting their own home based business. Work at home moms (or WAHM’s) are a fast growing segment of home based business market. There are also work at home dads (like me).
Why would you want to market to such small market? First of all, what may seem like a small market in your town or city is actually pretty large when you are using the internet. Second, it is easier and less expensive to market to a group that you have some affinity with. It’s easier to build a relationship.
That’s why I focus on groups such as:
- Work at home parents (It’s what I do)
- Parents who are concerned about financing their children’s education (my oldest just started college and I have two more following)
- Men and women who are concerned about having a certain level of financial security in retirement. (I’ll be 47 next month. Almost everyone in my age bracket – except the independently wealthy – is concerned about that one)
Remember, direct marketing of almost any product or service is based on relationships. Why would I want to try marketing to people that I have nothing in common with, at least until I’ve exhausted the markets that I am a part of?
Rather than waste your time and money marketing to a market that will be difficult to relate to, start marketing to people that you have something in common with. You’ll find that the upside is dramatic.
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