Your Marketing Plan: Reaching Your Target Markets

Small Business BC offers a multitude of resources to help you start and manage your business.

• You can register for our Marketing Your Small Business and our Sales for Small Business seminars to learn how to identify profitable target markets and develop an efficient marketing system to generate customers and revenue with less time and money. 
• You can book an appointment with one of our business advisors to discuss your business concept and assist you with developing your marketing plan. 

Keep Your Customers and Competitors in Mind

Clearly differentiate yourself from your competition. What is your unique selling proposition (USP) or competitive advantage? How will you differentiate your business? Why would people buy your products and/or services instead of from someone else?

Don’t underestimate your competition. Every business has competition. Don't narrow define your business so narrowly that you think you have no competition, and therefore you expect to be able to capture 100% of the market. Don't just consider direct competitors; identify indirect competitors as well. Think about the needs that your products and/or services fulfill and then think about any other ways that your customers could fulfill those needs. Those "substitute" products and/or services are your competitors. And, when it comes to services, don't forget that people can simply do it themselves.

Segment your market into primary and secondary target markets. You cannot be everything to everyone; therefore, your market is not "everyone and anyone". Clearly define who your primary target market is (and only have one primary market), how big this market is, how you’re going to reach this market, and how you’re going to speak to this market. You can then define your secondary target market(s), but be precise and don't fall into the trap of saying it's “whoever is left over.”