If you’ve been following me for a while, you’ll know how hot I am on ensuring that you know who your target market is. It really pays you to narrow your potential market down to one group of people who a) would love to buy your product or service and b) who you would love to sell your product or service to (no point working with customers or clients that you dislike!).
Once you’ve established this group, you can then look at it further, and break the group down into “life stages” or “mindset stages”.
People go through a whole range of psychological changes before they buy, and your job is to understand these, and pick the right marketing message for the right time (i.e. the right mindset or frame of mind).
Let me explain – let’s say you are about to move house, and are going to part with a lot of money to do this. However, you don’t just wake up one morning and buy a new house, and move. There will be various stages leading up to that:
Firstly, you may be perfectly happy where you are now and wouldn’t move at all.
– You might be happy where you are now – but if someone paid you to move, you’d probably take it;
– You’re starting to find that the travel to the office/schools is taking too long, and you begin to question whether you should move
– You begin to be very aware of the distant noise of the motorway?or get annoyed at the amount of motorbikes that travel up and down your road;
– You start to get annoyed at the little idiosyncrasies in your home (they’re no longer charming!)
– You kick the idea around of moving to a new area / new house with your partner
– You keep discussing the idea – and then one day you both decide To Move.
– At this point you start the chain of events that will enable you to move to a new house.
And there are probably a few more mindset changes that I could list in there. Now, if you were an estate agent, mortgage broker or financial advisor?you may decide that your target market is a particular group of people in a certain age range. But now look at this “sliding scale” of mindset changes, and you’ll see there’s a particular point where you can promote your business.
It’s going to be far harder work to sell your wares to people who are at the beginning stages of these mindset changes or life stages, than it is when you pick the point at which they’re ready to buy.
And it doesn’t matter what you’re selling – everyone one of goes through a series of psychological changes to take them to the point of purchase: some are quick (e.g. buying chocolate) and some are slow (e.g. in this case of buying a house), but it happens every time.
So, as an action point, take 20 minutes to map out the life stages / mindset changes / psychological changes that your target market will go through before they buy your product or service. Take the point of no interest through to the point they are handing you their credit card, and every point in between.
To do this, all you need to do is put yourself into their shoes, and take yourself on a mindset journey.
I promise it’s not only very illuminating, but – once you’ve done the exercise – will show you exactly what words to use to promote your business at the exact right time for your niche.
Have fun with it!
PS I have temporarily closed the comments section as I seem to be being blasted with spam. I’ll put it back on when I’ve figured out how to get rid of these permanently.