In marketing, the single most important factor in your success is your market. Who you target is far more important than what you say or what you offer.
Your marketing may be brilliant. You may spend a small fortune delivering your message. But unless it’s a good market (for you), you’ll never earn more than an average income.
Here’s a good formula to remember:
Great market + average marketing = big checks.
Average market + great marketing = average checks.
So, what’s a great market?
It is a market (list, group of people, etc.) that
- Needs and WANTS the outcomes and benefits you can deliver,
- Has lots of repeat business and/or referrals,
- Has the ability and willingness to pay what you ask, and
- Is a great fit for you.
What is a great fit? Mostly that you like the people and the work. You enjoy working with these folks.
When you find a great market (for you), everything else falls into place.
Your marketing is easier; almost unnecessary. You get most of your work from referrals and don’t need to do much else.
If that sounds good to you, go find the right market and fall in love with it. Learn everything you can about the market and the people in it, get to know some of the key people, and enjoy the rest of your career.
