Target Market Essentials Streamlined for Small Business Growth, with chat GPT

Link to PDF: http://tinyurl.com/4cjc5yxe

Link to Chat GPT Video:    • ChatGPT's Easy Way to Find Your Targe...  

Hi there. I'm Garik Goodell with G Squared Studio where we focus on helping businesses grow using the internet, focusing on momentum over perfection. Today we're going to be talking about target market, an extremely important element to implement into your business. If you haven't done it yet, it's time to do it today and make sure you stick around to the edit end of the video because I'm going to be giving you a couple little cheat codes to make things move faster for your business.

So you've heard the term target market. We've all heard the term target market. If you've worked at the graphic designer or a web developer and you might be caught up on how to apply it or how to really figure it out, we're going to dive into that today. We're going to talk about what it truly means, how to figure it out, and then once you have that knowledge, how to actually apply it to your business. First of all, let's talk about why this is so important. This is something that many smart and savvy business owners do Before they come up with a logo, a business name or anything else, they find a target market that has a need and then they go and they serve that need and they build everything around that. For those people who have chosen to take that path, everything is streamlined for them.

They can figure out their logo faster, their marketing message faster, how to market to their clients and all those things, and that is the beauty of having and knowing your target market. All those questions are answered. You don't have to do the shotgun approach. You can get really precise on where to go market to those people and what words to say to make sure they identify with your marketing, and then if they identify with it, they're going to convert faster. Before we dive into the specifics of it, let's talk about that little voice in your head that's saying, I don't want to shrink down who I talk to. I don't want to shrink down my customer base. I want to serve everyone I understand. It feels like you're going to exclude people and truly you're not excluding anyone. You're just helping the people that you know are potentially your best clients, work with you faster and sooner. Doing the exercise of getting your target market will help your business better, will help you speak about your business to anyone, not even that specific target market or target demographic.

Let's talk about the four main pillars of your target market. Number one, demographics. So this is income household, how many children or single family house or single individual in a home income level and things of that nature. Number two, psychographics. This is more values, hobbies and interests. Do they take lots of vacations? Are they more stay at home type of people? Do they do road trips? Things of this will help give a better perspective of who they are and what their interests are and actually make it a lot easier to target as well as speak to them if they're an adventurous person. There we go. We can make sure that we speak and use words that sound exciting, bring adventure to them, whereas if they're a homebody who likes to just stay at home and hang out with their little clique of friends and have that really comfy, cozy feel in their life, we can make sure we use words and terms that more Speak to that.

Number three, geographics. So this is where they're located. Where is your target market located? This can work out really well if your business is focusing on a really specific niche product. If you really hone in and it's amazing, the more you hone in, the better your marketing dollars get spent. But let's say you make a high end watch and you want to make sure that the right people see that you can actually, with some different marketing programs, get so focused that you focus on streets or blocks or neighborhoods, and you could really focus in on just that high-end neighborhood in your city and make sure that the right target market is seen, your product. And number four, behavioral, this is a little bit different, could be a little bit harder to figure out when people purchase your product or service. Is it a quick purchase? Is it an impulse purchase or is it something that they're going to research so that you can make sure you cater to it? Do you need to do follow-up emails? Do you just need a Facebook ad that just makes it super simple and quick for them to make that purchase from you? Those are the four main pillars to figure out your target market.

I know what you're saying. That all sounds great, Garrick, but how do I figure out this information? Great question. There's two different ways to think about this. First, we're going to talk about people that have been in business for a while. If you've been in business for a while, there's going to be some different tools and approaches you can apply. If you're brand new to a business, we'll talk about how you can utilize that in just a moment. If you've been in business for a while, one of the best things you can do is just go through your customer list, whether you have that through order forms or whether you have that because you're a business like mine where I really get to know and work with my clients personally and then answer a slew of questions for each individual one. And then you go through and you find the common tendencies throughout that.

So I actually have a PDF located down below. If you go through that and you apply the questions that are in that, let's say 10 of your clients that are great clients that you love to work with and you fill that form out to the best of your ability and then you combine the commonalities, you're going to start getting way closer to figuring out who that exact target demographic is. And if you don't feel like you can do a great job by just going through it yourself, you can add some extra elements. You could pop on Facebook and look these people up and see if you can find any information about them or on LinkedIn or any other social media profiles. Another thought, which is really where we're going to get the good juicy stuff is to call people. If you actually take the time to reach out and ask your clients 10 questions or less and spend 15 minutes with them, 10, 15 minutes with them, you'll have such a wonderful perspective of who they are and what they're into.

And if you do this again for 10 clients and then find those commonalities, you will be honing down in on your perfect target market. So utilize that form down in the description so you can know what questions to ask those clients when you reach out. If you're thinking, Hey, Gary, I don't have time to make a call to 10 clients, do it over time. If you're like, that's crazy, I'm just not going to do that. Then the next option is a survey. This can be great, but quite often you won't get the best words when people just speak to you and respond to you naturally. They're going to give you their natural vocabulary, which can be so useful when it comes to marketing, but a survey is better than nothing. Create a survey, send it out to your email list, send it out to a specific clientele.

You can also incentivize this if you're like, no one's going to take the time to do it, we'll try it anyways. If they're not doing it, then maybe incentivize it, $10 Amazon card, $10 Starbucks card. Just complete the form, return it and we'll send it off to you. Easy enough to do, and it is tremendously worth more than $10. You spend a hundred bucks, you get 10 of those, you're getting a great perspective on who your target market truly is. Market who are your target market truly is. Okay, so let's say you're new to business and you're like, I don't have clients. How am I going to figure this out? There's many ways to go about this. First off, the easiest thing to do is go look at your competitors, go look at their posts, see what they're posting about, and then see who's following them, see what questions those people are asking and dive into that and you can really get a great perspective of who they could potentially be.

You can do this on so many different social media platforms. Facebook is a great one because then you can also dive into groups and see what questions and who's in there. So find a group that's associated with your product or service and then become a part of that group and then just go consume, go see what people are concerned about, see what they're sharing, what excited about who they are and so forth. You can also do this on Reddit. There's many groups on there where people are very open to share about their experiences and what they're dealing with. The other really great platform to go to research on is of course this platform. YouTube, you can find people that are putting out content either about similar services or products to what you're putting out or in that same genre or realm or they have interest in the same things.

And then from there, you can dive into the comment section there as well and see what people are excited about, see what concerns or questions they have and also find out who they are and dive deeper into that as well. And then here's the cheat code element. This is pretty amazing. We can utilize chat, GPT. This is a starting platform. I wouldn't say it is the end all be all way to come up with this, but you can come up with a pretty sweet perspective of who a potential client would be. If you go to the link that I put down in the description, this guy came up with a prompt for chat, GPT that helps set up a perfect customer avatar. So if you click the link below, it'll show you how to get everything set up. To get to this point here, I just want to show you real quick how easily this works.

All you do is put in what your business sells and where are your clients. So I'm going to go small business websites, USA, here we go, and it pumps out this awesome run through, gives you an individual annual income, family situation, marital status, location, all that good stuff. And then this is really where some amazing points are their pains, needs, main challenges, budget preferred brands. It gives you a bunch of great information to then utilize as your customer avatar, so feel free to use this. This is an amazing thing and we're so grateful for people creating stuff like this and making the internet's a wonderful place. The other thing to think about with this is that this is something that should be revisited at least annually and rethought about annually. Your business is going to change and grow. So are the people you're potentially serving. So it's good to revisit this on a regular basis, at least annually and make sure it's still feels right and like it's speaking to the right thing. Feel free to change and tweak it. And that also gives you the freedom that if you're doing this for the first time, that it doesn't need to be perfect. It's better to put something down. It's better to kind of guess at it if you're getting the ball rolling. And then as you learn and grow, you can change this and update it.

Step one, build an avatar. What's an avatar? Garrick, so I just mentioned customer avatar a minute ago and you're like, Garik, what is that? You showed it on the chat. GPT thing. The PDF that I have down in the description is a great PDF to take you to really, once you've done those interviews or you've done the surveys or you've done the research, fill this form out completely distill all the information down and create one individual that you're speaking to. And if you do this, create this customer avatar. It will greatly simplify so many things. How does it feel to talk to one person? Well, compared to a room of 10 of people you don't know at all, it's pretty overwhelming. Be like, Hey, everyone I've never met. Let me do my little song and dance compared to the one person well that you can really connect with and you know how to speak to them and how to make sure what you're trying to convey to them is easily understood.

It's the same concept when it comes to this marketing. If you create this avatar and you speak to that avatar in every single piece of marketing that you come up with in every video you create and how you even create your logo, if you're that early in the game or how you choose your color palette or fonts, so many things could be simplified. The process can be greatly chopped in half and reduced. If you know exactly who you're talking to, step two, apply this knowledge. As I was just saying, if you start applying the knowledge that you're just speaking to that specific avatar, it streamlines everything. You don't have to guess. You can just make sure when you do that Facebook ad, the words that you say are addressing their concern and are giving them confidence that you're going to create and help them get what they desire.

How simple is that? You know what their fears are. You know what they want now. You just need to tell them. You can give it to them. There we go. And then step three, once you're actually doing all this, guess what? You're saving time, you're saving money, and you are making more money because everything is more concise and precise and dialed in. There you go. That is the value of a target market. If you have any more questions around this, please drop it down in the comments. If you want me to do any specific videos breaking any piece out, please let me know. If you want me to do a video going over that PDF that's down there, please let me know. I hope this video provided value for you and I hope you have a great day and great success. Thank you. Marketing in motion. Yeah. Okay. Hey, there.