Written by Michael Goldberg
Why? So you know how to spend your marketing time! Having a target market helps you determine what to learn, what to read, what to write, where to go, what to say, who to meet, and how to refer you. How’s that for a value prop? Bottom line – having a target marketplace makes you much more focused (advisors are notoriously not) and much more referable.
You might think, “Isn’t everyone my target market?” Everyone needs what you offer in terms of protection plans, asset management, and retirement strategies, right? Well, not really because everybody’s situation is different. Besides, you can’t market to everyone! In fact, if you’re looking to meet everyone, anyone, someone – the result is very often no one. Or a long time before no one becomes someone. Still with me? In other words, if everyone is your target market then no one is your target market. And no one equates to no business.