How well do you, the sales / marketing manager or the entrepreneur, know and market to your ideal target market?
As a small business owner and entrepreneur, it is critical that you know who to market to. Knowing your target market is an essential step to small business success. Without knowing your ideal market, you cannot strategically invest your limited time, energy, and marketing dollars. It is also critical that you not only know your target audience, but that it is the best possible market for you. You do not want to waste resources marketing to the wrong market.
This assessment will tell you if you have selected a specific niche market and whether your have found one that seems to be ideal for you. The results will give you an indication if you are well underway with your target market identification or whether you should go back to the drawing board.
Please complete all items. Rate each item on a scale of 1-5. Please choose one number and do not write a decimal, such as 3.5. Select the answer that best represents your feelings, thoughts, and behaviors regarding your target market. Choose how true each statement is for you.
| I can easily state the age, gender, educational level, and income level of my target market. |
| Less True - 1 2 3 4 5 - More True |
| I have done market research to determine who is best in or not in my target market. |
| Less True - 1 2 3 4 5 - More True |
| I have considered the sales cycle for completing sales with people in my target market, including length of time to close and complete the sales. |
| Less True - 1 2 3 4 5 - More True |
| I can fill in this sentence: 'The top three most common professions of my clients or customers include....' |
| Less True - 1 2 3 4 5 - More True |
| My current target market is in a specific geographical location or I can clearly justify why geography is not a consideration with this market. |
| Less True - 1 2 3 4 5 - More True |
| I am very enthusiastic and energetic about the market I have selected for my business. |
| Less True - 1 2 3 4 5 - More True |
| I have gone through a brainstorming and refining ideas process to select who I am going to market to. |
| Less True - 1 2 3 4 5 - More True |
| My business is uniquely qualified to address the needs of the specific target market we are currently focused on. |
| Less True - 1 2 3 4 5 - More True |
| I have abandoned the idea that marketing to everyone means more possible clients or customers. |
| Less True - 1 2 3 4 5 - More True |
| I have developed a marketing plan which addresses how the unique strengths of my business applies to my target market. |
| Less True - 1 2 3 4 5 - More True |
| My experience, both personal and professional, aligns very well with the target market I have selected. |
| Less True - 1 2 3 4 5 - More True |
| I can state in one sentence the clients or customers my business serves. |
| Less True - 1 2 3 4 5 - More True |
| I have received professional consultation or coaching to refine my market and insure that it is the best one for my company. |
| Less True - 1 2 3 4 5 - More True |
| I know exactly who my competitors are and how they are marketing to my target audience. |
| Less True - 1 2 3 4 5 - More True |
| I have been targeting the market that I target for at least 3-5 years and business has been steadily increasing. |
| Less True - 1 2 3 4 5 - More True |
| On a typical day, I think of how glad I am to be working with the clientele who I work with. |
| Less True - 1 2 3 4 5 - More True |
| The revenue that I have been generating from my marketing efforts is worth my investment in time and energy. |
| Less True - 1 2 3 4 5 - More True |
| It is typical for me to think that the clients or customers I work with are highly enjoyable and interesting. |
| Less True - 1 2 3 4 5 - More True |
| I can honestly say that I am (or my company is) the best qualified referral for a member of my ideal market. |
| Less True - 1 2 3 4 5 - More True |
| I know the percentage of my target market that is likely to purchase my services or products. |
| Less True - 1 2 3 4 5 - More True |
| When I think about the people in my target market, I know their psychological needs, motivators, and incentives to buy. |
| Less True - 1 2 3 4 5 - More True |
| Members of my target market have given me or my company consistently positive feedback and evaluations. |
| Less True - 1 2 3 4 5 - More True |
| I know how to best reach those in my target market (i.e., telephone, email, advertising, in person, listserves, etc.) |
| Less True - 1 2 3 4 5 - More True |
| I am aware of the trends and latest changes the people in my market are likely to have recently experienced. |
| Less True - 1 2 3 4 5 - More True |
| The creation of my target market developed from a good deal of time, consideration, research, and thought. |
| Less True - 1 2 3 4 5 - More True |
| Customers in my market do not regularly create significant troubles or stress for me or others in my business. |
| Less True - 1 2 3 4 5 - More True |
| I know when and how people are likely to buy my products or services. |
| Less True - 1 2 3 4 5 - More True |
| If I was not able to work with those who are in my current market, I would feel a sense of loss or lack of contentment. |
| Less True - 1 2 3 4 5 - More True |
| I am happy to say that my sales have been steadily increasing since I have been focusing all of my marketing efforts on the current market. |
| Less True - 1 2 3 4 5 - More True |
| I understand very well the hardships, struggles, difficulties, frustrations, and challenges that those in my target market go through. |
| Less True - 1 2 3 4 5 - More True |
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