Dr. Nunley's Business Insights

Identifying Your Target Market

Most products and services are designed with a specific customer group in mind. For instance, I currently need a chainsaw, but it's unlikely that anyone else in my neighborhood is in the market for one. However, there are some products and services that appeal to everyone.

For example, I recently received a message from a woman who sells coupon books for grocery discounts. Her target market? Everyone. Regardless of one's financial status, saving money on food is always appealing.

Marketing to a Mass Audience

The challenge, however, lies in how to market such a product to a large audience without incurring exorbitant costs. In response to her query about using the internet for marketing, I suggested placing inexpensive classified ads in widely distributed email newsletters. These ads would direct potential customers to her simple website, which features a photo of the product and an ordering option.

Traditional media outlets, such as your local daily or weekly newspaper, can also be effective in reaching a large audience. Television, including lower-cost cable options, is another viable mass media platform.

For more innovative promotion ideas, feel free to reach out to Kevin Nunley and his team of marketing experts at kevin@drnunley.com or 801-328-9006. You can also check out the promotion packages that have proven successful for his customers at DrNunley.com.

Finding Your Niche

Unless you have a marketing budget comparable to that of Coca Cola or Ford, you'll need to limit your marketing efforts to a few effective strategies. This means directing your advertising towards a select group of prospects who are most likely to purchase your product or service.

Identifying your niche can be challenging, and it can be difficult to even know what groups are available to choose from. A good starting point is to make a list of things you love to do. Your niche should be something you're passionate about and wouldn't mind dedicating years of your life to.

The advantage of this approach is not just that you can comfortably immerse yourself in your work, but also that you likely have a wealth of knowledge and enthusiasm about your chosen field. Nothing sells a product or service better than genuine, heartfelt enthusiasm.

Finally, ensure that your chosen niche has a large enough audience to provide you with a sustainable income and can be marketed affordably.