Business Connector Rapid Business Growth | Funding | Growth | Grants | Board Members | Business Acceleration Programs | Business Networking — for business owners and entrepreneurs
If you have defined your target market as 25 – 35 year old females, and somebody comes along and says “oh there are a whole lot of 50 year old men over here who I think would like your product too …” you have to stick to your guns.
Say you go with it, and try to cater to that market also. At best you will fail to attract this new segment, at worst … you will actually repel what was your original core customer, because they feel your message has shifted in a different direction. Very very dangerous game to play without a big advertising dollar budget available.
So once you have defined your target, developed your product or service to suit that market, tweaked your branding and marketing to appeal, stick to it.
You may realise your market is much smaller than originally anticipated or you’re not reaching it effectively, then you need to decide whether ‘this is it’ for that opportunity, and develop a completely new opportunity, or whether there are ways to extend it while staying true to the target market you’re addressing.
