Friday, August 31, 2007

Does Your Home Business Start Has A Defined Target Market?

By Juhani Tontti

The definition of the target market must be clear, so that you can meet it`s needs and to market successfully. To speak frankly, you will never know their needs in detail but you will learn what and how to market them. The results of your marketing tells their needs.

Actually it doesn`t matter, who the buyers are, it matters what are their needs from your product or service.

The best ways to get the information is to benchmark the successful sites and by testing.

The more detailed picture or specification you will get, the better results you will make. The narrower your home business start niche, the better. That allows you to concentrate into very detailed needs and offer a taylor-made service and products. That means more loyal and longterm customers.

The better you can specify the target group, the more in detail you can plan your marketing efforts.

Your home business start doesn`t need an army of buyers. Let`s make a calculation: your turnover target is $ 4.000 per month. If the average purchase is $ 30 per buyer, the conversion rate is 1 %, it means that your website needs 13.333 visitors per month or 444 per day to reach the target.

In almost all cases, the internet home businesses are very small businesses and compared to the huge potential of the Internet they are marginal businesses.

There are two challences: the number of home business entrepreneurs and the ability to build a very different niche offering, i.e. to build a brand.

The target group specification begins from the vision, targets and business strategy, which you have created for your home business start.

It is useful to deepen your target group specification to be able to find out the exact niche to target. For instance if your internet business` target group is the newbies, try to specify their features also.

Can they HTML, do they know marketing or sales terms, what copystyle the competition is using, does the target group like superlative-laden offerings, hype style, videos etc.? This you can do by making a competition research at Google and you will get a clear picture.

Here the keywords are in the main role. Type your keywords into Google and read through the top 5 pages per each result page. You`ll start to get the picture.
I recommend that you use WordTracker, which will tell you, how many times per month people search each keyword and how heavy or low competition it has.

You can start the research focusing the broad market and to look the niche markets inside it, which is not currently met. Watch what keywords people search frequently and where the competition is lowest or where the top pages on the search engine result pages have the weakest SEO features.

Juhani Tontti,B.Sc., Marketing. Find More Tools And Articles About The Target Market Definition For Your Home Business Start .

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