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What is a Target Market?

For the small business owner, target market is the term used to describe the group of consumers being targeted to purchase their products or utilize their services.

Another word that may be substituted would be to call this group your ‘niche’.

Here is an example:

Let’s consider a Virtual Assistant.

Virtual Assistants are the Administrative Assistants, Secretaries and Receptionists of yesterday. They bring the everyday support services needed by a variety of business owners and professionals to the internet, making it easy for anyone to maintain a well staffed office – even if technically they don’t have one.

The Virtual Assistant industry has literally exploded. The demand for quality virtual support is still growing and it’s not terribly hard for a new VA to introduce their business with some basic networking and have a few clients to start with.

However, the market is mature enough at this point that to truly thrive as a VA, you have to do something to set yourself apart. (We’ll talk about this more later when we discuss the Unique Selling Proposition.)

One way to help gain momentum and grow your business is to focus on a specific niche or target market.

Rather than saying that you are a VA for anyone – you introduce yourself as the Coaches VA or the Podcasters VA or the Real Estate Professionals VA, etc. By identifying clearly with a specific target market, you let them know that you feel you are uniquely suited to meet their needs and this will help you to stand out from the rest of the crowd.

Steps To Finding a Target Market 

How To Identify Your Target Market 

Identifying Unique Selling Proposition

Target Market - Frequently Asked Questions

Identify a Target Market and communicate a Unique Selling Proposition, take your business to the next level.

Take your time. Ask someone more experienced for help. It is worth it.