How to Find Target Market for Your Home Business
Your target market will be the people you want to do business with the most, whether it’s in building a team for a home business or finding the ideal type of customer for whatever you are selling. The better you are at defining your target market, the more success you will have.
To help you zero in on your target market, I’ll give you a few details of mine and thengo into at least 20 questions you can ask yourself to help you define your own ideal client, prospect or customer. Fair enough?
My target market for home business is:
- People in home business now, never had success they wanted
- Not good at recruiting
- They don’t want to recruit friends and family
- They want to make money from home without having to recruit people
- They love people but don’t want to have to host meetings, events, parties, etc., or go to them.
- They want to be able to sit at home, be in front of a computer while hanging out with their family or other important people in their lives and hop on the computer and make some sales.
- They don’t want a house full of products they’ll never use
- They don’t want to be stuck on an auto-ship
So when I post about business on Facebook or do any advertising, I will always have that group of people in the back of my mind as I create my posts. There are many other finer details about my specific target market, but I don’t want to bore you with all those details. I’d rather help YOU zero in on the important details for YOUR business.
The challenge for people sometimes, is letting go of trying to speak to everyone.
If I asked you who your target market was and you said your target market is “everyone!” then you will have a tougher time with recruiting. It sounds counterintuitive, but if you zero in on a smaller group of people, you will actually have more success. Your goal is NOT to be all things to all people.
To figure out your target market, then it’s important to figure out who your ideal prospect is. Paint the picture of what your ideal prospect, client, etc is all about. Is it stay-at-home moms? People who are currently unemployed? People who have full-time jobs and a long driving commute to a job they hate? New college grads? In general, who would you prefer to work with?
The clearer the picture you have, the easier it will be to do your prospecting, whether it’s on the phone, in person, on Facebook or other social media, or when you are out and about around town running errands.
Now, you are not necessarily asking your prospects all these questions, this is just to get an idea of EXACTLY WHO is the type of person you want to work with.
And you may end up building a team of people from all different types of backgrounds, but if you want to do any advertising or recruiting using social media or even news sources like newspapers, Craig’s List, magazines and so on, it’s a good idea to know who you really want to work with.
Think of who your IDEAL prospect is. Come up with your own prospect “avatar.”
If you could bundle up ALL the desirable characteristics and attributes into ONE person, what would that look like?
Questions to help you narrow down your target market:
– What age group? (20s, 30s, retired? etc)
– Sex – Males/Females
– Education level
What do they look like?
What kind of personality? (outgoing, shy, etc)
Are they married, single, divorced, widowed?
Do they have kids?
Do they prefer to work alone or in a team?
Do they have home business experience already?
What kind of challenges do they face in their home business?
Are they good at prospecting?
Do they know how to build teams?
Do they struggle with knowing how to talk to people?
Do they have an Upline who’s not been supportive or helpful?
Do they know how to close people after seeing a presentation?
Income level –how much money are they earning right now?
Desired income- how much money are they looking to earn?
Income status- what financial challenges are they facing right now?
What kind of hobbies do they have?
What do they care about in their lives?
What’s important to them?
Come up with questions that relate to your specific products.-For example- if you sell nutritional products for weight loss:
-What’s their weight status (overweight, massively overweight, do they want to lose 5-10 lbs, 10-20 lbs, etc)?
– Do they take vitamins or other supplements?
– What kinds of food do they eat?
– Do they exercise?
What do they value most in their lives?
– Time with family?
– Being in a job they love?
– Being able to travel?
– Having the freedom to do what they want, when they want and where they want?
So as you answer these questions you will start to get a clearer picture of who you want to work with, who is ideal for your business or your products. And when you zero in on the right crowd of people, it will actually help your posture as well. It will increase your confidence, because you know exactly who you are trying to help.
I KNOW that if I try to market to people who want to be home in front of the computer, who don’t want to recruit, who don’t want to do home parties and events, that I will potentially lose the people who actually DO want to do those things. And that’s totally fine! Because NOW I can focus on the people who do want those things. I don’t have to try to fit a square peg in a round hole. I don’t have to adapt my business to the wrong kind of prospect.
Remember, not everyone will be qualified to do your business.
Like I said earlier, the clearer the picture you have, the easier it will be to do your prospecting as well as your marketing, whether it’s on the phone, in person, on Facebook or other social media, or when you are out and about around town running errands.
Get crystal clear on your ideal prospect and then MARKET to that prospect. Find people who fit that profile. When you create posts on Facebook or other social media outlets, speak to that type of person. Create posts that would attract your ideal type of prospect.
The clearer you get on your ideal prospect or your ideal customer, the more success you will have!
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Here’s to your success!