Do you have a clearly defined target market for your business networking? By clearly defined, I mean what industry, profession, market segment, niche, dynamic, demographic, or geography represents your target market.
It’s like reducing a fraction to its lowest common denominator! (Remember that?)
If your target market is “small businesses” or “business owners” than your target market might need more targeting. Or reducing. (See above!)
Bottom line, who do you serve best and therefore wish to serve most? That’s your target market!
Here are 3 Benefits of more clearly defining yours!
If you have a clearly defined marketplace, you’ll create a distinction between your prospects, clients, and centers of influence and your competitor’s. This alone will minimize the number of competitors you actually have.
Become a Master in Your Domain
Having a target market allows you to become the resident expert with your clients. That will make you the go-to financial advisor, broker, agent, or sales producer in your marketplace.
Be More Effective at Solving Problems and Sharing Info
After a while, you’ll become so familiar with the challenges your target market faces, you will be able to help solve their problems more effectively and will have plenty of content to write, post, share, and reflect upon based on your experiences.
And these are just three benefits based on my own experiences working with my target market – most of you!
Next week I’ll share 4 More Benefits of Having a Clearly Defined Target Market!