WHAT BEING LOST TAUGHT ME ABOUT TARGET MARKETS

This past weekend, I took my son, Braxton, out for our latest hobby- geocaching. Our first mistake was not using a GPS during this excursion. We found several caches days before, but this was out of our area, our target market. Sure my phone has directions and a map, but not the precise GPS requirements needed for geocaching. And not to mention we were on the backroads of the backwoods in Tennessee. I know, good job dad. But here what I learned about marketing and target markets on this 3-hour fun journey.

1. Get Directions First: When defining your target market, have a direction for your company and the products and/or services you will provide. Understand what you will offer and how it will benefit your customers.

2. Define Your Customers: Simply put. Who are your potential customers. We got lost on an old country road. There was a man on a little bit of land, riding his tractor. It made me think, simple, but so true: He is someone's target customer. Know who your customers are in advance.

3. Ask For Directions When Lost: Are you engaging your customers in your processes? Do you engage in conversation or dialogue with your customer in social media forums? Are you regularly seeking feedback in the retail environment? If not, you might be missing where your customers are going, who they want with them, and what they want involved.

4. Explore New Land: Our weekend journey was exciting. Having grown up in Middle Tennessee, I had pretty much seen it all, but we found little cities I never knew existed. The same holds true with your target markets. Get involved with the local Chamber of Commerce, other professional associations, and welcome new businesses to town. Explore, you never know who you might meet.

Customers are out there. Finding them is the fun part. How is defining your target market critical to thriving today? What are other creative ways to find new customers in your market? Post your comments here: