Off we go, into the world, marketing our product or business. Do you know who’s out there?
There is the population.
There’s your market.
There are those with a toothache for your thing.
Each person out there is one of these. Do you know who they are?
Population: People of the world. AKA everyone.
Your market: a thin, VERY thin slice of the population. Usually less than one percent.They’re your market because their world view (their values) match yours as it relates to what you’re selling.
People in your market will pay more for skin care products that have no chemicals. They’ll pay more for a daily whole food supplement versus a Wal Mart brand (synthetic) vitamin. They’ll pay $300 for a really good tennis racquet versus $35 for one at K-Mart – because it matters to them.
Those with a toothache for your thing: a subset of your market who are right now asking friends or Googling for a product (or business) just like what you offer. They want it NOW.
1) Not to confuse people in the population with those in your market.
2) Seek out those (in your market) with a toothache now, if you need money fast. (That means you know what kind of “toothache” you can fix – e.g. same as yours as it relates to the product or business)
3) Be gently available for people in your market who don’t have a toothache yet.
Yes, easier said than done.
Inspired by a Seth Godin post.