Your target market must be small enough that the resources you’re able to commit will have a big impact.
Imagine carrying the heaviest rock you can hold and dropping it into a small pond. The splash would be huge, loud and noticed by anyone around, and the ripples would cover the entire surface.
Now imagine dropping that same rock into the middle of the ocean. No one would even notice. Imagine dropping a rock 100 times that size in the middle of the ocean. Again, no one would notice a thing.
The rock, of course, is your resources.
When new marketers come to me looking for advice, I ask them who their target market is. Nine times out of ten, it’s, “Everyone who wants to ___.” It might be everyone who needs to lose weight, make money or whatever. It doesn’t matter. Their market is too big and they’ll never get noticed.
But if they target teachers who want to make extra money online, or nurses, or fast food workers, they’ll probably make a killing.
Still not convinced? Think of the pond versus the ocean, and the rock as being your marketing. How much marketing will you have to do to get noticed in the ocean? You’ll need the resources of a Coca-cola to do it.
Now imagine getting noticed in the pond. Heck, if you just stand up and say, “I’ll teach everyone in the pond how to lose 10 pounds this month, or how to make $1,000 a month online,” you’ll get noticed right away.
When someone describes their market too broadly, I know they’re going to fail. But when they know exactly who their audience is and how they’re going to reach them, I know they’ll do fine