One of my 10stepmarketing Ezine subscribers recently asked me the following question, "How do you determine how large your market is when almost anyone can be a potential customer?"
There are two problematic words in this question. And those two words are "almost anyone."
This is such a common small business marketing mistake that I wanted to share a few pointers here, so everyone can benefit.
First of all, while almost anyone COULD be a potential customer, you should never be marketing your business as if almost anyone IS your potential customer. What's the difference?
Even if you offer a product or service that a wide variety of people could purchase, you ALWAYS want to identify a small group of clients that you are going to target with your marketing.
By identifying who your IDEAL clients are, you can then very easily figure out where to reach them, and what to say to them to get them to take action. This is next to impossible if you are trying to market to the masses. Especially if you have a limited budget. And, as my subscriber points out, it's also impossible to determine how large your market is, when you haven't clearly defined your market.
Take the smart marketing step and identify who your ideal clients are. The narrower the niche, the easier it is to determine the size of the market and create a marketing strategy to effectively reach them.
Find out what the Top 10 Small Business Marketing Mistakes are here.