4 Tips on Choosing the Right
Target Market for YOU
By Angela Wu
Think back to the last time you went shopping in a mall ...
You may have been out looking for a new jacket, but as you passed
a card store you remembered that your friend's birthday is coming
up. So you pop into the store and pick up a card. Out in the real
world, "location, location, location" is one of the most
important parts of your shopping experience. You're out anyways -
and if a store can lure you in as you pass by, then it's more
business for them.
Not so on the Internet. Online, people search for specific topics.
They use search engines or indexes to go directly to websites that
offer what they want. 'Location', on the web', is completely
irrelevant.
That's why it's so important to pick a *target audience*.
Marketing specifically to one particular group of people lets you
focus on providing this one group with precisely what they want.
Offer them what they want and they're much more likely to reach
into their wallets! Targeting your audience is *vital* to your
online success.
This next report offers a few suggestions on how to select a
target audience that's right for you. Best Regards, Angela Wu
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4
Tips on Choosing the Right Target Market for YOU
(c) Copyright 2001, Angela Wu
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choice of a target market is going to dictate *everything* you do
online: what you write, which products you offer, where you
advertise ... spend some time now thinking it through carefully -
it's worth it! Here are a few suggestions on generating ideas for
a target audience.
__1. Choose a market related to your job skills. What skills
have you picked up through education or your current line of work?
Can you market these skills online?
For example ...
* Administrative assistants may have superior organizational
skills that they can use to offer online planning or reminder
services.
* Programmers and engineers may be able to write custom scripts
and offer licenses for their use.
* Construction workers may be able to create a series of tips
booklets on "inside information" prospective home owners
should know before selecting a builder.
* Stay-at-home parents may be able to offer child-care tips,
information on how to evaluate a daycare, or advice on finding the
right school.
Everyone has a unique set of skills and experiences!
Think about whether or not you could enjoy continuing to do this
type of work while self-employed on the Internet.
__2. Choose a market related to a passion or an interest.
Are you a hobby gardener? A fan of Rhythm 'n Blues music? A
proponent of wiping out work-at-home scams? One thing to be aware
of is that turning a hobby into a business may "ruin" it
for you ... you may not like the feeling of being
"forced" to come up with new content, new products, etc.
You may simply prefer to keep your hobby exactly that: a hobby.
Then again, you may adore it - imagine, getting paid to do what
you love! I know several people who have turned their passions
into businesses, and not only do they make money, but they also
have a good time while they're at it.
__3. Choose a market that will fill an unanswered need.
Can you think of a product or service that you wished existed ...
but you haven't been able to find it anywhere? If so, chances are
that others have as well. The question is whether or not there's a
market large enough for you to tap into and make a decent
profit.
__4. Choose an existing market - and improve on what's offered. If
you take a look around the web, you will millions of websites that
claim that they have the answer to finding a work-at-home job. The
good sites post articles, tips, useful links, maybe put out a
newsletter.
And you know what? There are lots of excellent work-at-home
websites. If you were to try and break into this market, you would
probably want to break it down: do you want to cater to
work-at-home moms? Work-at-home dads (side note: I haven't
actually seen a site that does this ... yet!)? Freelance writers?
Once you've decided, you'll have to take a look at what others are
offering.
Can you offer something unique or improve on what all the other
sites are doing? Can you offer better service, more personalized
service, "extras" that no one else has, a unique point
of view?
The more saturated your market, the harder it will be to make
money.
Put another way ... if the supply of sites, products, and services
to your target market far outweighs the demand for it ... you will
be faced with much stiffer competition.
STICKING WITH IT FOR 'THE LONG HAUL'
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Obviously there's a whole lot of work involved in starting and
building a business of any kind. When you're in the process of
choosing your target market, think about whether you'll be able to
...
* Offer regularly updated content of interest to your audience.
Fresh, content-rich sites attract repeat visitors. Do you have the
motivation, knowledge, and interest in writing articles or
searching out information of interest to this audience?
* Make a decent profit - are there good affiliate programs
available, or do you have the knowledge and desire to create
products of interest to your audience? This isn't a one-time
thing; coming up with new products is an essential part of
increasing your profits (and taking advantage of customer
loyalty).
* Sustain your interest and motivation. There's no point in
starting up a site whose theme bores you. Pick something that
interests you, so that you'll be much more likely to stick with it
through rough periods. Everyone's entitled to make mistakes or
change their minds.
But wouldn't it be easier to pick a market you'd enjoy catering
to, and be able to stick with, then to pour your heart and soul
into a business that you later give up?
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Angela is the editor of Online Business Basics, a practical guide
to building an Internet business on a shoestring budget. It offers
helpful tips, tools, and down-to-earth advice specifically for
beginners. Come see why Online Business Basics has received so
many rave reviews! Click here:
http://onlinebusinessbasics.com/
