Your Target Market is the Problem With Your Business

I’ve never met a service entrepreneur who didn’t squirm when confronted by a marketing truism: you must target your market. You cannot serve “everyone.” I cannot tell you the stunts students and clients have pulled, trying desperately to defend their position not to choose a narrow-population market. They fear they’ll be confined, bored, and will lose money. If you relate to that and haven’t chosen a targeted group of people to market to, that is your problem.

You are shooting yourself in the foot and setting yourself up for a business of fits and starts; erratic client income…and invisibility. Furthermore, you won’t be recognized as an expert if you’re talking to “everyone.” Experts are experts because they help a particular group.

So, here are 6 reasons you MUST narrow your market to a slim population and why you’ll FAIL if you don’t:

  1. Your target market IS your business when you’re a service entrepreneur. Every program you offer and information product you develop must be directed and composed specifically for them. If you are targeting “everyone” or straddling a few markets, your program offerings can’t solve the very unique and specific needs and desires of that market and will fly under their radar; they’ll never even “see” what you have to offer because it’s too general.
  1. It’s the fastest (and, most likely only,) way to become an expert. When you have a solution for, say, teen-age girls at risk, you will be noticed and sought out because it is assumed that you have very specialized knowledge and experience with that group. When you stay broad, you will never, ever become an expert.
  1. It clarifies your thinking. Your brain cannot picture “everyone” and so your thinking stays unfocused and broad. When you can see a specific population in your mind’s eye, you are able to form the specific wording that gets noticed by your prospects’ brains—which are always looking for one thing: how does this apply to me, specifically? I always say, “You write only as well as you think.” That goes with anything you’re producing, really. It all starts with a clear image. If you cannot SEE the careers and lifestyles of your market, your thinking is fuzzy and so will be your business identity.
  1. Your promotions get heard and noticed. When you speak to the laser-focused specific needs of your market, you leave them feeling something that is priceless for a business: heard and understood. If you convey your value in vague and general language, it won’t hit your prospect’s heart. EVERYONE wants to feel that they are fully and completely understood. When you have a sliver-population-target-market, you will tailor your message to them; they will feel embraced and understood and valued by you—and compelled to work with you. It is the most powerful, psychological gift you give to people who haven’t worked with you: I know you. I get you. And I can help YOU, specifically.

When a business speaks to everyone, it gets heard by no one.

  1. Your excitement will increase. When your communication about your value is specific to a specific group’s needs, you get excited because suddenly you really know who you’re helping!  You are here to alleviate pain, solve problems—when you are doing that for a narrow population who needs you, the very best of you will spring forth and you will love sharing what you do! Trust me on this. If you are feeling flat about your business–it’s probably because you don’t really know who needs you most. If you’re uninspired, your business will fall away.
  1. Your marketing efforts explode in effectiveness because you know precisely where to put them. You find where your target population congregates, and your articles, website links, advertising, newsletters, etc. go directly to them. The time and effort you put into marketing drops dramatically—something every business owner must appreciate!

I’ve got a 24-page workbook for you that will help you determine your narrow market FAST–AND it also gets really deep into their heads. Part 2 takes you into the “inner psyche” of your market’s minds. You will know exactly what they need so you can build the most marketable programs and write the most compelling copy. And there’s a 2-hour workshop that goes along with it next Thursday, April 19th, when I will coach you to have your perfect buyer AND teach you how to use their psyche to sell. Jump on this asap!!!

Survey Says! We’re Sick of the “Internet Information Marketing” Scene!

So, if you read my post from last Monday, it will put the results below in context. Suffice it to say that I got a “knock on the head” about the phoniness of the internet information marketing gurus and asked my list to chime in with their opinions. It is a small sample–with a BIG message!

#1 How “fed up” with the Internet Information Gurus are you? (OPTIONS)

1. I used to admire them, but have stopped because they feel superficial to me. –60%

2. I’ve never followed them because they have always seemed “slick” to me.-–25%

3. I have no problem with them–and very much aspire to their levels of success and how they got there! –0%

(Interesting…NOT one said they had “no problem” with them!)

Comments from This Section

Our marketing internet industry has become a place of greed and flat out lies.

The conclusion you have drawn is the one I’ve been drawing for a while. At first it was so new to me that I really tried to learn as much as I could, then I noticed how the formula played out in all the various ‘guru’s’ out there. I don’t even read their stuff anymore! AND as one of them said…this is tested, it works. And there is a sucker born every minute. I want to offer something important that isn’t a hype or a come on.

Most of them are “slick” to me as well. I try to undig the information and resist the ‘continous education is an investmet, train with me’

I observe more as a way of knowing what “not to do.” Kinda like a bad boss.

I take only LIVE coaching when I FEEL it is exactly what I NEED at this very moment

They are all the same and i too am sick of the unending litany of emails that i get from some of them. They all seem to think that more emails are better – NOT TRUE!

There are gold nuggets in each offering but some folks are just too pushy and their programs are too expensive. Even the person I have known a long time has gone to the darker side of $$$$$.

I haven’t stopped following all of them because I can still learn while ignoring the hype and hypno-sales techniques

I know that the ‘free’ seminars will almost always include a 10-20 minute pitch. I tend to tune them out or leave the call. As for the ‘how you can leverage yourself into a six-figure income’ types, enough already! If all it requires is a formula than we would all be rich. Obviously there is more to building a business than that — our own emotional disposition being one of the biggest factors.

#2: Do you think the lack of trust in Internet Information Gurus is growing?

65% –yes

35%–haven’t asked, so can’t say

5%–no

Comments from This Section:

Seems many are modeling the identical model.. very boring

So much car salesman tactics that are not attractive or part of conscious business practices. Underneath the testimonial is the mantle of $$$ for the guru Manipulation is the name of the game.

#3 : Here is a list of typical marketing strategies used in information marketing. Please RANK them by number, from those that “turn you off” the most to least.

1. interviews with guest gurus

2. email marketing FOR their guru friends

3. email marketing of their own newsletters

4. email marketing of their own *promotion*

5. live events with many speakers selling

6. free teleseminars

7. free live seminars

8. free video trainings

9. social media

Worst Offenders:

  1. Live events with many speakers selling
  2. Email marketing FOR their guru friends
  3. Email marketing of their own *promotion*
  4. Social media

RESULTS:

4, 2, 9, 3, 5, 1, 6, 7, 8

5, 8, 4, 2, 7, 6, 9, 1, 3

9. 4. 3. 5. 6. 2. 7. 1. 8.

2, 1 ,4 ,3, 5, 6, 7, 8, 9

5, 9

5, 2, 4, 3, 1, 6 5, 7 , 8, 9

5, 7, 8, 1, 2, 4, 6, 9, 3

1, 2, 3, 4, 5, 9, 8, 7, 6

5  2, 7, 1, 3, 4, 6, 9, 8

2, 5–the rest are necessary

4, 3, 2, 5, 8,7

2, 5, 9, 1, 3, 7, 6, 8, 4,

9, 8, 2, 5, 4, 3, 6, 1, 7

2, 3, 5

5, 4, 2, 3, 1, …

Comment from This Section:

None of these things bother me, per se; it’s HOW they are used. An interview with a guest guru would be fine if it were not a hype fest/ ego booster. Same for email marketing of promotions. If they are relevant and not full of bull, that’s fine. The problem is they are so full of shit. I’m currently a part of a group venture and the hype is embarrassing me. Another lesson learned.

#4 And here is a list of typical *business* strategies used in information marketing. Please RANK them by number, from those that “turn you off” the most to least.

1. Big-ticket year-long “mastermind” programs, from $20-$100K
2. Monthly memberships ($19-$250) with online membership site + 1 CD + newsletter +  one group call with Guru
3. Seminars with multiple speakers, all selling packages.
4. VIP days–go to the home of the guru for a day
5. Big-ticket home-study programs (lots of videos/dvds/cds + manuals) for $1500+

Worst offenders:

  1. Seminars with multiple speakers, all selling packages.
  2. Big-ticket year-long “mastermind” programs, from $20-$100K
  3. Monthly memberships
  4. Big-ticket home-study programs

RESULTS:
3, 5, 2, 4, 1

1, 2, 5, 4, 3

4. 5. 1. 3. 2

1, 2, 4, 3, 5

1, 2, 5

3, 4, 1, 5, 2

5, 4, 2, 3, 1

1, 3, 4, 2, 5

5, 4, 3, 1, 2

2, 1, 3, 4, 5

1 ,2 ,5, 3 ,4

3, 4, 1, 5, 2

5, 4, 1, 3, 2

3, 5, 1

3, 4, 5, 1, 2

1, 5, 4, 3, 2

3, 2

2

Comments from This Section:

No one is inherently bad, it’s more the method of self-promotion and the lack of valuable content that bothers me.

Lots of folks think they walk on water when they sure do not! The use of “incredible” “amazing” and other superlatives surrounding price of a special offer. “Do it now or it will cost more later.”

3 is by far the worst because you end up in one without realizing it.
2 because you can end up in these without realizing it.

3 & 4 could be okay. If there is really value to the seminar or access to the guru (bad term; good for big egos), and the upsell portion is really minimal, I don’t mind so much. Usually, though, I a not-too-thinly veiled upsell is the major thrust of the presentations.

Group calls with ‘Guru’ are only good if you have reasonable access, so the membership has to be limited, somehow. Again, the major thrust behind membership sites seems to be, “How can I make more money and work less?” This sickens me.

#6: How would a TRUSTWORTHY “Information Leader” do business? How would s/he market?

  • Be themselves … be real, but still PLAY BIG.

  • honestly, authentically, and with integrity

  • I want more practicality, and honesty “it won’t”, “you need to improve here and there”. Less exclamation of admiration as if the truth was just discovered. If something is good, yes, acknowledge it but I want less high-pitch “awesome’. Down to earth.

  • Some discreet disclosure; Substantial information for reasonable cost in time, energy and money; CD and group settings seem fruitful.

  • Teach first, then make services available.

  • The ONLY way I have seen transformation taking place in me has been through LIVE communication where ONE on ONE coaching is offered. So the information leader MUST offer me this in order for me to even consider giving him any money.

  • Email people when you truly have something to say or something new to offer, not every week or every day because you think you have to

  • If you can still learn from them without spending a cent…that’s good thing!

  • UP front honesty on what is offered at what price. NO HYPE on supposed value of products offered.. It is only valuable if I agree to pay the $$. Honesty about affiliate income from my purchases.
  • NO buy it now or loose out on the special price. Immediate decisions are pressure. A good product will sell itself w/o this car salesman tactic.
  • Membership community at very low cost with many free offerings.
  • NO GAMES! I am so tired of the manipulation

  • A sales/opt in page that is not a 30 min read through testimonial land.

  • Lead with actual leadership qualities. Yes, we all have information and products we would like to disseminate to the public, but it seems that over-inflating the price which puts a perceived value on the item engenders people to want to buy to see what the hidden gold is only to find out there isn’t any hidden gold, it’s just the same old stuff rehashed into a different format. I think we need to get back to an actual value based system. Why not let the buyers put their perceived value first – a few dollars to one person when it’s all they have is a far greater fortune than the $1500 to the person who has it to spend. When an individual values something they will use it.

  • Tell the fricking truth and stop the bullshit hype. It’s not the tools or the channels, it’s the message you deliver

  • I don’t think all of the above strategies are bogus or inflated depending on who the person is that you are going to spend time with. Consultants in lots of industries charge high fees for their expertise. We might pay to save us time and money by taking the long way. Bait and switch is my most hated ploy.

  • Content-rich mailings and seminars/workshops, with a mention of what is available next, and being available after an event to speak one to one about people’s concerns. Building trust and rapport work with me. It may take longer to enroll a new client (or not), but it sure feels better.

Well, there you have it! Know any Internet Information Marketing Guru? Send ’em over
here so they can get some sense knocked into them!

I’m still happy to take your thoughts over at Survey Monkey: http://www.surveymonkey.com/s/NJ7XSR6

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