On each occasion people have struggled with the subject of their target market. When networking (as in marketing generally) it is essential to focus on a specific market segment. If you have more than one type of client then the most effective thing is to pick the client type most relevant to the people you are with. So, if you are with other owners of other service businesses, think about who their clients are likely to be. Talk about your typical clients in the markets they operate in.
During one session an accountant helped explain the point by sharing how he always focused on one specialism, International Tax. His firm can do other work, but that is his primary focus and he gets great results. Over time that is the expertise that he has become renowned for. He also knows where to invest his time and effort in finding referrals for the people that can refer him.
You can hear some more on this subject of target market in a recent NRG Podcast, 'Your target market – Who is your right person?'
Good Networking!
Dave Clarke
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