Why is it important to know who your target market is? Before we answer that, let’s answer a more basic question: WHAT is a target market?
Simply put, your target market is the right group of people you want to put your offer in front of. A good example of why it’s important to know who your target market is demonstrated here through the wrong target market – you will never sell a steak to vegetarians, so if you are a butcher you would never bother placing ads on a website or forum dedicated to this dietary lifestyle.
Now that we’ve defined the term “target market” and demonstrated its importance, let’s identify who your target market should be. You must understand that when it comes to network marketing, there are two totally different markets:
1. The group of people who would be most interested in purchasing the products and/or services that your opportunity offers.
2. The group of people who are most likely to join your downline as a business opportunity and actually produce for you (duplicate your efforts).
The biggest mistake that most network marketers make is they think that these two groups are one and the same; in other words, that the people who are most likely to buy the products are also the people who are going to join your downline and build your business. This has been the main reason for the high failure rate of network marketing and why most people sour on the idea, even though it is a sound business model.
Let me make this clear through another example. I love my Sprint as my mobile phone carrier because I love their smart phone options and the all-inclusive calling and data plans they offer. That does not mean I want to own a Sprint store.
Here is the reality: there are the people who are most likely to purchase the products/services that you sell through your opportunity, while there are others who are entrepreneurs and would like to join your downline as a business opportunity. Do NOT confuse the two.
But Denise, you ask, isn’t it possible, that there is a person who does both? Of course there is. But you do not market with that idea in mind. You choose your target market and you create marketing materials based on their wants/needs/desires. As you can see by those two separate groups, their needs and desires are VERY different.
Take an honest look at yourself. If all you cared about was using the products, you would have simply been a consumer and left it at that. But you’re a business builder and you’re reading this blog all for one reason: because you want to make money. Let me say, this is not a bad thing! If you take offense to what I just said or you have an issue admitting that you want to make money, I strongly urge you to look for and read my article entitled “Setting Your Intentions: The Right Money Attitude”.
So, since we have been honest with ourselves and we know we are here to make money, which of the two markets mentioned above would make more sense to be our target market for our network marketing business? Yes, that’s right, the second group.
Now, in that second group, there are many subgroups of people who have an entrepreneurial spirit and want to make money. You need to think about who you want to target and start writing relevant content for them. Once again, I will use myself as an example: I joined a network marketing company while I was going through my divorce. The market I decided I wanted to target who would most likely have the same goals and desires I had were single/divorced Moms, and those were the people I sought out for my network marketing team. I even chose a domain name to link to my marketing system for that company that aligned with that target market.
You can have more than one target market. Simply design different ad campaigns geared toward each group. I’ll let you in on a little secret: I have an even better target market than the one I already mentioned (which I still market to). Want to know more? Feel free to email me at denise@BetterMLMSuccess.com and I’ll be happy to discuss this further with you.