Here’s Why Selling Your Product/Service to Everyone Doesn’t Work

When you are selling a product or service, you need to know exactly who you’re reaching out to. Some business owners try reaching out to anyone and everyone. They believe  this is the best way to net the most profit.
When I talk to my clients about narrowing in on their target market instead of trying to be everything to everyone, I’m sometimes faced with quite a bit of resistance. The biggest fear I hear repeated is that doing so will negatively affect bottom-line profitability.
The formula that seems to make the most sense to many business owners is: market to everyone to make the most money. Marketing experts argue that by aiming your product or service to a specific group of consumers, you’ll be able to send a much more personable, clear message about why what you’re selling is beneficial and delivers the most value.
Promoting a product or service to your target market is a lot like showing your ideal customer/client exactly why the product or service you provide is right for them.
So how do you identify your target market?
Start by describing your ideal customer/client with as much detail as possible. Answer questions like:

• Is your target market male or female?
• What age/age group?
• Where are they located? Does geography matter?
• What do they do for a living?
• What is the income bracket? (this info is important if you sell high-end, luxury items)

These are very basic questions to consider. You’ll want to dig deeper and ask questions specific to your type of business (for instance, if you sell organic gardening products or supplies, many in your target market probably own homes).
Years ago the accepted standard marketing advice was to target consumers within the ages of 18-49. This information is now outdated because the current marketplace is so fragmented. The general approach just doesn’t work as well. Consumers fall into categories based on socio-economic status, gender, geography, religion, lifestyle and various other factors which must be considered. Also keep in mind that today’s consumer has a pretty good understanding of marketing tactics and may resist being lumped into a general category. Zeroing in on your target market can take more time and effort, but the bottom-line results  are worth it.
photo credit: Martin Cathrae