Six Target Market Types: 1-3
Posted by Linda in Target Markets, tags: target market typesYou should select target market types by what you want to accomplish with the market.
In public relations, if an organization wants to reach and influence a group of people to take some action besides buying a product, they consider the group a target public rather than a target market.
But as a small business owner, you likely consider all such groups to be your target markets. With that in mind, this and my next post will cover target market types. The types differ by what you want to accomplish.
The six target market types covered in these posts include:
This post covers the first three target market types. To read about the remaining three, click the link at the bottom of this post
Target Market Types
Financiers
Your financial institutions and the people who work there don’t usually buy your products or services, but you have to know them and their expectations just as well as you know potential customers.
If you don’t, your chances of getting the funds you need to start and grow your business are decreased. So financiers compose an important target market type for your small business.
Target Market Types
Supporters
Many small business owners need supporters in order to reach their goals.
For example, I recently worked with a small business owner who needs to reach leaders in the African American communities. The leaders are not the people who are most likely to directly benefit from his service, but they can reach many of those who will. Their support is vital to him successfully getting his business going. So they are a target market type for his business.
If your business also needs supporters to be successful, supporters comprise an important target market type for you.
Target Market Types
Influentials
You, as a business owner, may need to reach people who can influence your potential buyers. Although influentials may not ever buy your products or services, they have considerable influence over your potential customers.
For example, high school teachers and counselors don’t pay for their students’ college tuition but they do influence their students’ college choices.
You need to consider all three of these target market types as you start and grow your business.
This concludes my discussion of the first three target market types. To read my post on the remaining three target market types, click the link below:
If you need help getting information about your target market, I’ve researched 19 target market profiles. One may be just what you’re looking for.
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Posted 10-10-08:
Six Target Market Types: 1-3
Entries (RSS)
Hi Linda! Thanks for another great blog. I’m trying to figure out my supporters and influencers but it’s not clear. I’ve contacted the 911 Cell Phone bank and other womens groups without much success. Local police or law inforcement typically don’t support my non-lethal products and would certainly influence potential customers to the contrary. Also, I’m wondering if supporters and influencers can be the same people or organzations? Good thinking going on!
Hi Debbie,
Yes supporters and influencers can be the same people. The question isn’t whether your supporters will also influence people, but whether your potential customers target market type is influenced by them.
After you’ve read target market types 4-6, you may find it helpful to make a list of the people in each target market type. Start with present customers. Then do potential customers. Then decide who most influences your potential customers. Then think about what groups, organizations, or individuals will provide different kinds of support and list them.
By going through this systematic process, you’ll get a clearer picture of how to market your safety products.
Warmly,
Linda
This is an informative post on the different market segments. My business partner and I started our company last year. Getting the right word out to the right segment of the market was a huge challenge for us. It seemed like we were trying to fit all our advertising for everyone, and the slow initial results showed.
My wife (who’s a PR professional) got involved, and she explained what types of advertising went with different areas of the market. Her breakdown of market segments was very similar to yours. We’ve been going strong ever since.
Hi J. Cash,
Your experience is not unusual. In fact, I’d say that after product design or selection, picking the best target market is the most difficult to small business owners. And it’s even harder for Internet marketers.
I’m glad your wife, a PR professional, stepped in. So many people misunderstand public relations, but it’s very similar to marketing. It just covers more people because public relations deals with everyone affected by, and who affects the business.
Keep up the good work.
Warmly,
Linda