Focusing On ONE Target Market Means MORE Profits In Your Business
When I start working privately with a new client as their coach, one of the first elements of their marketing we work on is identifying their target market and creating their ideal client profile.
Most of the time, the Virtual Assistant will say something like, “Wait a minute Sydni! If I focus on just one particular market, I’m going to be leaving people out. I don’t want to leave anyone out! Everyone needs my services! I don’t think I want to do that.” I smile and respond that they don’t have to worry. And that they don’t have to walk away from opportunities or leave anyone out. That’s not what I’m talking about here.
Choosing a target market means that you focus your MARKETING efforts on one specific group of people who need the solutions you offer. So all of your materials speak to that group, your messages in your marketing address the specific challenges of that group; the services you offer are solutions those individuals are already looking for. If, along the way, you happen to come across individuals in other industries that want to work with you, that’s perfectly fine. Go ahead and work with them too!
For example, let’s say you work primarily with home based businesses. That is your target market and that’s who you want to focus your marketing efforts on. But you go to a networking event, you meet this really interesting attorney, the two of you enjoy an instant connection and hit it off! In the course of the conversation, he shares that he is completely overwhelmed with handling the day to day operations of his business and after learning about the work you do, expresses an interest in engaging your services. If this happens to you … work with the attorney! You don’t have to walk away from the opportunity because you’re targeting home based businesses. That’s not the point of choosing a target market.
As the CEO of your company, you have the option to work with whomever you like, regardless of whether or not they fit your ideal client profile. But, when it comes to marketing your business, you’ll be much more effective and much more profitable, if you narrow your focus to one specific group of people. This will allow you to become the expert problem solver for that group and become a leader in that industry. You’ll be so well versed in the challenges those individuals face, what solutions they’re looking for, what software to use, what lingo they use, etc., that hiring you becomes a no brainer.
Think about it. When you get ready to hire a service provider to help you with a problem in your personal or professional life, don’t you want to work with an expert? Don’t you want to work with someone well versed in handling the challenge you’re facing? Of course! The same principle applies to your VA business. The ideal clients you want to connect with are looking for a professional who understands them. Some who “gets” the challenges they face and has the experience to resolve them. When you speak to this need as you market your services and talk about your business, you will seamlessly attract the clients you were meant to serve.
So start TODAY, narrowing your focus to one specific target market. Update your marketing materials so that they speak to that ONE target market. Start attending networking events that cater to that ONE target market. Create solutions that YOUR target market is looking for!
You’ll immediately start enjoying your work even more and can look forward to a BIG boost in your income and being of greater service to those who need you!