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Website Planning

Who is Your Target Market?

Ask yourself, "Who are most likely to purchase my product or use my service". Now you can start targeting your market.
 
Most businesses do not target their markets well enough to capitalize off of their marketing budget and this is the #1 reason for failure with Marketers today.
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YOUR TARGET AUDIENCE

Your target audience should be well defined using a series of Venn Diagrams , as shown below. By defining your target audience level by level, you are prepared to expand your marketing efforts at any given time into the next level of market.

A Venn Diagram offers and excellent approach to targeting. We suggest using a Triple Venn at first and eventually target to a Double Venn as your market becomes more focused.

Target Market - Level 1

Target Market

Our next level of targeting will give us an even closer look into our core market. The chart below will show you how to target your market even further, providing you will a great starting point for your distribution plan.

Target Market - Level 2

Target Market

 

By using a series of Venn Diagrams, your marketing plan will be easily expanded upon and identifying future markets, promotions, and goals will be simplified.

 


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Website Planning Checklist:


PLANNING THE SITE

Target Audience

  • Who do you want to visit this site?
  • Are there multiple target audiences?
  • What will each audience want?
  • How will they get to the site?
  • When will they visit it?
  • What connection will they have?
  • Any style/presentation/navigation features important for each target audience?
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Search Engine Optimization


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A Good Target Market

A good niche market will have several key elements. The first and foremost will be that the market is not too targeted. You can find this out by using the Adwords Keyword Tool. Check your keywords to see how many searches there are for each keyword and then get a total market value from the sum of each entry. Now search on Google for each keywrod or phrase and total all the results. Divide the number of results by the number of searches.

Here is the Equation: {Total Queries / Total Results = Market Ratio}

*A good market ratio will be .05 or better. This means that are 20 or less results for every person searching.

The second is that the market should be a profitable market. You can find out how much consumers are spending on a particular market through a market research company like MarketResearch.com.

Lastly, you want to be sure that the market is a stable market. You can do that be looking at the profit reports in the industry. Yoiu want to see a steady growth of 5% or more over the past 5 years.

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