TC: Know, Love, and Respect Your Market

Today’s challenge may be one of the most important ever presented.

Most small business marketing is done online. New techniques are constantly being introduced; more content, more graphics, more words, less words, new key words, more color, new social media outlet, etc. etc. etc.  We sit behind a computer and produce all this material; we learn from on-line videos, seminars, books, and high priced “experts”.

To create a powerful marketing campaign you need to understand what moves your market. This can only be accomplished by reaching out and talking to your target market. I have often shared my 40% time requirement; that is how much time you must spend each day on marketing. In a 40 hour week that 40% is 16 hours. Be truthful to yourself. Are you spending at least 16 hours a week on marketing?

Your challenge this week is to spend a minimum of 3 hours a week finding out what your target market demands before you try to figure out how to deliver it. It is critical that you understand what your target market wants and why they want it. Successful “selling” only happens when you know for sure what your market demands and then deliver it.

This challenge can best be met with “in-person” interviews. Structure your interview carefully so as not to appear that you are selling something. This is an on-going research project. You have an opportunity to not only find out what your market demands are, but how they want it delivered and where they think that they can learn about the availability of these products or services.

As small business owners you must never lose touch with your market; it has to become a core value. While you are finding out what they are interested in today, you will also find clues as to their future needs and demands. This will allow you to be a leader in your field not a follower.

My headline, Know, Love and Respect your Market can’t be a superficial effort. They are the most important people in your business life and consequently deserve your full attention. They have to know that you care and that you have their best interests at heart.

If you are providing good products and services that can meet the demands of your target market you are on your way to growing a profitable business.

——————————————————————————————————————–Tips & Advice by Nick Petra, CFP – Founder of BizQuack and StrategicDuck