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How to Identify Target Market Opportunities

Marketing

You’re struggling to make headway in your interior design marketing...

You’re not sure who to focus your marketing efforts on…

And though you’ve heard of a target market, you’re not quite sure what it is or how you can benefit from it...

Does any of this sound like you?

Clarifying your target audience can help solve these issues. A target market is one of the most strategic parts of your marketing strategy and is essential for lead generation AND conversion for your interior design business. 

What is a Target Audience? 

A target audience is your ideal client. They’re the subset of people you think are most likely to buy your product or service. 

There’s a commonly held belief that if you create great marketing content, the right type of clients will naturally come. While it’s true that efficient content marketing and social media boosts leads, it doesn’t necessarily translate to increased sales. 

That’s why you need to focus your efforts on the specificity of your target audience. Rather than trying to reach everyone with little conversions, focus on a smaller population that could lead to higher sales. 

Why Should You Define Your Target Audience? 

As the saying goes, “If you are trying to market to everyone, you are marketing to no one.” 

Defining your target ensures you’re creating the right content for the right people. As you continue to learn more about your ideal client through data and research, it increases and improves your content’s ability to match your audience’s needs. 

The result is more qualified leads because you’re reaching the best possible audience for your brand.

Benefits of Having a Target Audience

Generating leads for your interior design business comes with having the best marketing strategies. It takes time to develop, but there are the rewards you’ll get when you’ve specified your target market:

  • Getting your business and services in front of the right people 
  • Increasing momentum by having less competition
  • Attracting and converting leads with highly efficient messaging
  • Converting leads by solving their specific needs 

How to Find Your Target Audience 

Finding your target market for your home design business involves the following steps: 

1. Answer the Core Questions

Have a clear sense of who you think will benefit most from your service. What does your ideal client need and want? Understanding needs and wants are core marketing principles, and perhaps the most important question to answer. 

From there, ask yourself whether there are enough of these people who can benefit from your service? While you want to find a niche interior design market, we also want to make sure your efforts will be profitable in the long run. 

Finally, ask where your ideal clients are. That way, you can place physical and digital marketing materials in places where your target market will see them.  

2. Do Your Research (Important!)

Research and data fine-tune your target marketing success. They also help you find future target marketing opportunities. 

Conduct Customer Development Interviews (CDI’s). This is a learning stage where you find what your customers need. Interview multiple people in your new target market to gauge their interest in your service. 

Research helps you find what your target market cares about and will need help with, allowing you to sharpen your marketing efforts. 

What’s Next?

Create and Test Your Offer

Now that you know your target audience’s needs and wants, create and test your offer that provides solutions to their problems. 

Your offer and content should validate you can provide what your target customer needs. Price it appropriately and communicate the value your client will receive.

Test your offer on early adopters. Keep track of their reactions through surveys, then use these data to improve your campaign. 

Focus Your Marketing Efforts

Once you have specified your target market and have created your perfect offer and content, it’s the following that will make ALL the difference in your marketing plan:

  1. Target your ideal customer in online ads and social media
  2. Identify groups they are members of online and offline
  3. Join associations to become part of their community
  4. Become an authority by creating content specifically for them
  5. Generate a referral funnel with channel partnerships
  6. Create raving fans and build a following

Avoid These Mistakes

Find your target market for your interior design business faster by bypassing these mistakes. 

  • If your target market can’t afford you, they are not your market 
  • Not narrowing down your target market (niching down) - it needs to be small enough for your business to stand out
  • Thinking clients aren't willing to pay for your services. Don't lowball yourself. You need to show both your clients and yourself that your services are worth every penny.

Keep Improving the Process

Follow where the data takes you. Keep track of CDI’s, client feedback and conversion data. Always ask yourself what is and isn’t working, and feel free to stop marketing efforts that aren’t working for you or your business. 

And of course, don’t stop learning about marketing and productivity tips for your business. If you want to know more, you can sign up for our Free Group Workshops to help grow your business.

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