Friday, April 24, 2009

Tip of the Week - Target Audience

One of the biggest mistakes entrepreneurs make is thinking that if they create some cool new product or service that it will appeal to everyone. It won't. To sell a product or service, you really need to get a handle on who needs it and will buy it. Who is your target audience?

I'm facing this right now in my volunteer work as a board member of Aging in Place in Darien. We want to be all things to all seniors in our town. But I don't know if we can be. Our town's senior center serves one subset of seniors on M-W-F and a different subset on T-Th. The Darien Community Association serves still another. Can we reach and serve all these market segments? How? Who has the biggest need? Can we satisfy the need of that target?

When you're planning your business, you need to think hard about this question. It will help you clarify your marketing -- your message and how you will get your message out.

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