How Do I Define My Market?
Your market is who you want to reach. Your customer. Who is your average customer? What is your estimate of total market size? What territory do you intend to serve? Will you offer a variety of products or services?
The more specific you are, the better definition of your customer (what their characteristics are), the easier it will be to more clearly define your market.
Many times you can obtain your Unique Selling Position (USP) from your customer. You need a USP to stand out from your competition. It is specific to you and your business. It is yours and yours alone. Your way of doing business.
How you define your market will also make a difference on how and what you use to reach that market. Will you direct mail, cold call, do walk ins, use the web, employ radio/television and/or print advertising?
In lease purchasing you define your market based upon the strategies you employ. For example, with consulting your market is a lot broader and wider, than it would be if you are using the co-operative strategy exclusively in a well defined surrounding area of where you live.
Again, with lease purchasing, what you do to reach your market will depend on what strategy you are using. You would advertise in your local papers that you can help buyers and sellers with the lease purchase advantage. Whereas, for consulting you want to reach a wider market, so you might take out an ad in a national paper or advertise on the web, or use e-mailing as a marketing strategy. For example, when I need to send out emails for consulting, I open Group Mail, pull up my consulting group email, put in the email addresses I collected for the day and press send. If you want to see if this program will work for you, check out:
www.homebusinesssolutions.com/groupmail/gm1.html
Now that you've got the idea, start defining your market. Once you do, you'll find that your business is easier to operate and more profitable.
Copyright DeFiore Enterprises 2000
Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com
Related News
|
 |
|
|
RELATED ARTICLES
4 Dynamic Marketing Tactics
Some of the simplest marketing tactics often produce the most profitable results. Here are 4 examples that have proven highly effective for any business.
Top Five Tips For Designing Marketing Strategies That Get Results
"But this won't work" said Steve. "I've tried it in the past and had no response." Does this sound familiar? My newer clients often resist implementing certain strategies based on past experiences. However, I usually find out that it wasn't the strategy itself ? but how it was implemented that caused the dismal results.
Creating Your Unique Selling Proposition or USP
Creating Your Unique Selling Proposition
A Business In One Sentence
Marketing expert and author, Geoffrey Moore, has a useful
fill-in-the-blank method for creating a theme and
positioning statement for your business. I prefer to use
his same system for creating clarity for myself in what I'm
selling, creating an elevator or introduction speech, and
also material for my website, brochures and business card.
Top 9 Strategies To Attract More Clients Now
1. Advertise in trade journals, ezines, and web sites that cater to your ideal client.
25 Ways To Get More Business
Complete Article with Resource Box at end:
Peddling Your Own Wagon Through Local Exposure
In my e-book "Articles That Sell", I've shared the secret of marketing your business on the Internet. If you've been active in your efforts, you've been writing and publishing free reprint articles.
The Advantages of Full Color Brochure Printing
A brochure can be a great promotional tool, whether it is for is a real estate listing, a trade show handout, a data sheet, or another application. The most professional and eye-catching brochures are usually those that are full color.
Making the Intangible Real
How do you make the intangible real? How do you take an idea or concept, something that can't be seen or touched, and convey its essence to others, quickly and easily?
Five New 5 Ps!
NO! When I say "5 P's", I'm not talking about the big 5 P's of marketing everyone's familiar with.
Mission Statement Impossible
Dant dant da da dant dant da da. Dant dant da da dant dant da da. (That's the
theme from "Mission Impossible"...)FADE IN.
Creating And Maintaining A Mailing List
WAYS TO USE A MAILING LIST
7 Simple Marketing Tips
Here are 7 simple marketing tips to help you boost your sales and profits quickly. All are easy to use and work for any business.
How To Let Your Customers Search For YOU! ? Part 2
First I want to welcome you to part two of the article 'How To Let Customers Search for YOU!', where you can learn how to attract new clients at any time you want. The techniques I describe here have proofed to work for me and a lot of other people.
Five Mistakes Absolutely Guaranteed to Drive Away Your Best Clients
We all work hard to attract even one paying client. In fact, we work hard to attract serious inquiries. Yet amazingly, many business owners seem determined to drive away business! Every example cited here is based on true, thoroughly documented experiences, with both newbie business owners and five-star marquee players.
How Do You Get Past The Gatekeeper?
The best joint ventures are with people in your own network ? those that already know, like and trust you. However, there's nothing to stop you from partnering with "cold" contacts ? those you've never associated with before, and you would therefore need to build a relationship with. This simply means it will take a bit more time to execute the joint venture because any "cold" contact would need time to evaluate your character and your business before committing to a partnership with you.
Trapped in Your Comfort Zone? Break Out and Send Your Marketing Skyrocketing
A marketer whose advice I generally respect recently published an article about how to find your comfort zone and stick to it in your business in order to create a more harmonious work environment.
Modern Marketing With Postcards
Postcards may be one of the best kept secrets of modern
marketing. They produce even better results now than in the
past. That's probably because postcards deliver information
the way people want to get it today ...fast and with little
or no effort.
Using a Marketing Calendar Template
Owning a small business isn't easy, especially if you are running it alone. Between moving products, taking orders, paying bills, and taking care of family, it is easy to lose track of everything you need to do. Using a calendar template to organize and manage your marketing strategy will ensure you don't drop the ball with one of the most important parts of your business.
Marketing Manual Sample Outline
The key to success in any business relies a large part in your ability to market your product or service. Often MBA students spend years studying marketing as it encompasses and relates to nearly all business operations. If you own a small business you know the value of marketing, even if you do not have an MBA or a specialized MBA in Marketing.
|
