What is Target Marketing and
Why Is it Important?
If you saw this post and asked yourself what is target marketing? This may be one of the most valuable posts you will ever read for your network marketing business. Defining a target market can seriously help you hone your business marketing to actually start being effective.
Why Network Marketers Struggle with Defining a Target Market
Do you know why it is natural for a network marketer to struggle with a target market? Because they can sign up anyone and everyone, THAT, is what has caused so many would-be success stories from every happening.
OK, so, what is target marketing? It is where you first identify who exactly you would PREFER to get into your network marketing business and then creating content and value to attract them. It also means knowing them inside and out, what they struggle with, what they think about, where they attend events, etc. Put it like this, If you had a magic wand, and you could whip you your PERFECT prospect, what would they look like?
– What kind of work experience would they have?
– How old would they be?
– Why would they be interested in what you have to offer?
– What problems does your product or service help them with?
– What do they desire or hope to achieve in life?
– What do you have experience in that you can converse about that would have you building rapport with people? (more about this later)
Hardly anyone in Network Marketing really thinks about defining their target market
In most industries your PRODUCT dictates your PROSPECT. Here are some examples of target markets:
1. If you sell medical equipment, you are not going to approach the hot dog vendor, it just wouldn’t make sense, would it?
2. If you sell pet grooming services, you are only going to target pet owners right?
3. If you sell social media services, you are not going to target people without computers, is this making sense?
You see, a MARKETING problem with network marketing is we can sell or sign up anyone and everyone and that is what most network marketers hope for…anyone. And that is exactly why their marketing attracts…No one.
Back to the Magic Wand and What is Target Marketing
If you are defining a target market for your MLM, just think about what type of person would you actually LIKE to work with? Some of you might still be working on your first signup and may incorrectly answer, ANYONE RAY! No, no, no, you are NOT just a hoper and dreamer, you ARE a business person and business people DO get to choose who they work with, so, how bout you?
Me, I love working with men and women that already understand the model of network marketing, perhaps have some professional experience in their past and maybe have not had the level of success they really desire yet. If you notice in my blog, I don’t write to the person that is skeptical about our industry because that is NOT who I want to try to convince, I would much rather just take all the people that already love our industry and help them to succeed higher.
Some good examples of target markets for Network Marketing
- Baby boomers who are concerned about retirement.
- Dads who have a daughter or daughters that are scared about paying for their weddings.
- Adults concerned on covering the costs of their elderly parents.
- Retirees who are bored.
- Retires who are wishing they had saved more money.
- Personal trainers that wanna expand their income.
- Stay at home Mom’s that want to amass assets and make a financial difference for their family.
- Musicians or actors that want to get paid to network while in between gigs.
Earlier I talked about who you have rapport with, understand that you are NOT limited to only marketing to people that you have experience with but if you identify a target market that you don’t fully know, you better be willing to immerse yourself in their world and learn it. What magazines do they read? What shows do they watch? What fundraisers do they go to? Etc.
Also, understand that this entire post is all about MARKETING, I would encourage you that if you are out and about to PROSPECT anyone you are willing to even if they do not fit your target market. If you are going to be there anyway, why not prospect but if you are going to market anyway, why not target.
Who is your ideal prospect? Your avatar? Your perfect target market? Share in the comments below.
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