Your Target Market might be Mums working at Home
What do you think people search for most on the Internet?
No… it’s probably not what you’re thinking:-)
People search most for ” a solution to a problem they have”.
Your job as an Internet Network Marketer, is to provide solutions to one or more of those problems that your “Target Market” has.
Who is your “Target Market”?
In your MLM business, you may have been taught that your Target Market is everyone. However, assuming that everyone MIGHT be interested in your product or opportunity makes your marketing a real challenge. You can waste a lot of time and money trying to convert those who are NOT interested, because you’ll have to do a lot more work to convert them (IF they listen to you).
For example, imagine if a restaurant specializing in Steaks advertised to people who were vegetarians. Do you think they’d have much success?
A lot of people have NO interest at all in joining a business opportunity or having a business of any kind. They are happy with going to work every day and doing their job. And, that’s okay!
So, why not target people who DO have an interest in what you’re offering?
STEP 1: Find Your Target Market.
Your Target Market should be a subset of a larger market. A large market is ”all existing Network Marketers”. However, that is a very competitive market, and so is “people searching for a Home Based Business”.
However, if you choose a smaller subset of network marketers or “people searching for a Home Business” it will be easier.
Here are some examples of subsets of larger markets:
- Stay at Home Mums (or Moms depending what country you live in) who have a network marketing business.
- Stay at Home Dads who have a network marketing business.
- People who’ve just retired and started an MLM business.
- People who’ve just finished college and have a Direct Sales business.
- People who want to be fit and healthy and have a Network Marketing business.
Think about what kind of people you want to work with. It’s best if those people have a lot in common with you, so you can identify with them. In fact, the more “like you” your target market is, the better.
STEP 2: Find Problems your Target Market has and Solutions you Can Provide
Once you have your Target Market defined, find out what problems they have. You can visit websites like the following, to find out what kinds of problems they have:
http://answers.yahoo.com/
http://blogsearch.google.com/
http://www.samepoint.com/
http://alltop.com/
In addition, you can search on google for Discussion forums and blogs where your target market hangs out.
Write down the problems you can solve for your target market. If you don’t know the solutions, would you enjoy learning how to solve some of the problems?
Decide which solutions you’re going to provide to your Target Market.
STEP 3: Solution + Your Target Market = Your Niche
The next step is to define your Niche which consists of:
Solutions you’ll provide + Your Target Market
AN EXAMPLE: Moms looking for a business
For this example, your Target Market could be:
- Moms looking for a business or
- Moms searching for ways to build their existing business
Now, to work out what your “Niche” is – Your Niche is different from your target market, so you can use this Formula.
YOUR NICHE =
YOUR Target Market + Solutions for your Target Market OR Need YOU will Fulfill for your Target Market
In this example, your Niche could be:
1. “Showing Moms who want an online business How to find their Ideal Business”
OR
2. “Provide Internet Marketing Training to Moms who have an existing MLM business”
Drill this down further by providing a specific aspect of “Internet Marketing Training”.
OR
3. “Show Moms who are Network Marketers how to do Video Marketing”
Can you see how the examples above include the Target market AND a solution or fulfillment of a need for that target market?
You can provide solutions to Moms’ problems, they will see you as a leader, someone who can help them, and some will want to join your business, others will purchase your affiliate products, or other products and services you sell.
Finding your target market and your niche is the very first step. In another post, I’ll show you how to do market research for your chosen niche, and exactly how to narrow down that niche, if it’s highly competitive.
{ 17 comments… read them below or add one }
I think this is a very timely post for a lot of internet marketers. Most of us just want someone to “show me the money” without realizing that there are some basic steps and principles that need to be in place first.
You hit it right on the head Julieanne, I look forward to future posts.
Jfoster
John Foster recently posted..Last post 300 mobile tools in 1 revisited
Hi John, thanks for your feedback. I did a “small business” course many years ago, where the teacher had done extensive research on why so many small businesses fail. And, he found there were 2 main reasons: 1) they failed to do their market research at the beginning and 2) they expanded too quickly.
The 2nd reason may (or may not) apply to us as internet marketers, but the 1st reason certainly does!
Have a fun day or evening, Julieanne
Great review of the process we must undergo to know where we want to go before we head down the road.
This process seems evident, but it’s a painstakingly stringent one that we must adhere to very carefully in the beginning so we don’t regret all the needless work we did for the wrong reason later on.
I really appreciate your insights, here, Julianne, and I really look forward to learning from you about doing the market research for my niche.
David Merrill recently posted..You’re A Success… In Your Own Mind
Thanks David, I appreciate your feedback lots! Have a terrific day or evening Julieanne
Very well written article Julieanne. I’m so glad to see how you emphasize not just selecting a nice, but giving serious thought to who you want to do business with. So often I see “how to” advice that takes on more of a shot gun approach – throw the information out there and just grab every warm body that shows up. That’s not only a terrible formula for running a business, it’s a miserable way to live!
marquita herald recently posted..Entrepreneur’s Survival Guide- Learning to Talk to Strangers
Hi Marquita, the shot gun approach is a terrible formula, and probably the reason a lot of people don’t have success. Thanks for coming over and have fun! Julieanne
Hi Julieanne,
This is really good information for me since I am just starting out on my blog. I heard about all the things you talk about, Niche, Target Market,passion. etc. but never put it all together until I read your post. I especially like the equation of Niche = TArget market + solution. That is brillant!
Joyce
thanks Joyce, I’m really pleased I put some of the puzzle pieces together for you! have a terrific day! Julieanne
Hi Julianne !
I agree with Joyce. “I especially like the equation of Niche = TArget market + solution”. Cleared it for me as well… There are a lot of timesaving tips around now, which is great ! Somebody there earlier said that we must carefully think to whom we want to market to save time, or something of the sort. And it’s true ! I wish I had had all this simple infor a few years back when I was starting. I was SO overwhelmed. Very well put together. Thank you !
Katri
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Thanks Katri, I appreciate your feedback. I wish I had all that info when I started also:-) regards from Julieanne
Julieanne,
This is excellent ! Your tips are great and you are a real giver. Keep it coming !
I definitely learn from you and I therefore say many thanks to you. I also find some interesting topics which I am going to read again soon and learn to share with others too.
You are awesome, Julieanne !
Cheers
Pearly
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Hi Pearly, thanks for your feedback, I appreciate it very much! Julieanne
Julieanne, . It is very important to find out if there is a market for you niche before you put your work and effort into marketing that niche . It is very important to do something that you like as your natural interest will encourage business and like minded people. I will be back to your blog. All the best Rosemary
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HI Rosemary, great to see you back again!
Hi Julieanne,
Excellent reminder to me. I have always said, I want to attract people that I want to go on vacation with…that is who I want working with me. If we’re going to spend that much time together, we better like each other. I find this to be true with my coaching and with my business. The key is to figure out what you are passionate about and then go from there as you wrote. So many of us get attracted to the next big thing and realize we aren’t jazzed by it. Don’t force yourself to do something that isn’t really you. When it is really what you are thrilled about the magic will come.
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Yes, it’s not much fun doing something we’re not passionate about, we might as well go back to having a job (unless of course you’re one of the very lucky ones who absolutely love your job). Regards from Julieanne
Excellent article and I loved how you drilled down the finding of a specific niche!
You are so right when you say to do the things one is passionate about. There is so much work involved in making a home business successful that the priority is to have a subject we can related to and write about.
Stevie
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