Why do some small business owners don’t use target marketing?.

The answer differs for each business owner. But most of the reasons fall into four main categories:

1. They really believe they can market to everybody - that everybody wants what they sell.
2. They don’t know how to predict characteristics of their potential customers in order to separate the target market from the market at large.
3. They don’t know how to conduct target market research themselves, and
4. They can’t afford to hire a marketing agency to do it for them.

This post covers the first reason that some small business owners don’t use target marketing. The remaining three reasons will be covered in my next three posts.

Reason 1: Some Small Business Owners Really Believe They Can Market To Everybody - That Everybody Wants What They Sell.

The truth is there are no products or services that everybody is going to want badly enough to pay for it. Only people who really believe they will benefit from a product will exchange their money for it. How much money they’ll pay you for it depends on how much they desire the benefits that your product offers.

Some may be willing to pay for your product but not enough that you can make a profit. Others may be willing to pay considerably more in order to get special benefits that increase your costs. But will they pay enough for you to make a profit after adding those increased costs? Some aren’t going to buy your product at any cost. They just don’t want it, can’t see how it will benefit them, and probably wouldn’t use it if you gave it to them.

Now that’s a hard pill for some small business owners to swallow, but it’s reality. Only some people will be willing to buy a product at a price that enables you, the business owner, to make a profit. Those people are the ones that you need to target.

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To get to the next post in this series, click the link below:

Predicting Characteristics Of Your Potential Customers

Posted 10-27-08: Why Some Small Business Owners Don’t Use Target Marketing

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