Before going on, let's look at the four defining criteria that qualify a group as a "market".
- Is it identifiable and accessible? Are sufficient numbers of these people in your marketing territory? Is demographic and other information about the group readily available? Can the group be reached efficiently and served effectively? Can you get names, addresses and other contact details?
- Does the group have identifiable common characteristics, such as occupation, income or wealth, age, sex and life stage, ethnicity or language, unique working conditions, business or political affiliations, special interests?
- Does the group have identifiable wants, needs and objectives that can be addressed by your products and services?
- Does the group have an active communications network that can spread your name and reputation, and generate on-profile referrals?
By working in the markets — or market "segments" — where you're most at home, have some natural rapport, name recognition and demonstrable expertise, the more proficient you'll become at anticipating the members' goals, wants and needs. This makes your services more timely, relevant and desirable — and your approach all the more effective!
As you build relationships with members of these groups and they begin seeing what you do for them, they'll become excellent sources of introductions and on-profile referrals.
