How to Identify YOUR Target Market
One question Virtual Assistants ask as they are starting their business is, “Which businesses are best to target that will need a virtual assistant?” That question is a good one, indeed! Oftentimes it is important to answer a question with a more piercing question. Therefore, I want to look into the ‘which businesses need a VA’ question with yet another question. My question is this, “What problems do you solve as a VA?”
Focus on the problems you solve
At the end of the day, all service providers (VAs included), are Problem Solvers. Technically, it does not matter what industry needs a Virtual Assistant. What matters most is what problems need to be solved. So, let’s begin with some of the problems that you solve as a VA. First, you will need to take stock of your skill set. Many VAs worked as office assistants or as Executive Assistants at some point in their career. While serving in this capacity, a wide array of skills could have been developed. How fast can you type? Do you have outstanding customer service skills? Are you proficient in using the latest Microsoft Office suite? Is it easy for you to make complicated travel arrangements? Does your skill set include composing meeting presentations or specific marketing skills? Do you see where we are going with this? It is important to understand what problems you are good at solving before you decide to choose a target market.
The second item on the list is for you to review your industry knowledge. In which industries do you have a great deal of knowledge? Have you worked in the industry of real estate, travel, transportation, graphic design, healthcare or others? Of what industries are you knowledgeable? Or, what industries do you find appealing? Which ones are you willing to learn more about? These two areas provide an excellent starting point for you to choose a target market. Shall we proceed?
What is a Target Market?
A target market is a small segment of people that work within a larger industry. Let me give you an example of a smaller group within a larger industry. Think about healthcare for a moment. How many different professional groups are there in the healthcare field? That is mind boggling to consider! Now consider dentistry. That is a much smaller and target market in the field of healthcare. So, if you are a VA who has experience in the field of dentistry, you could easily search for that market which is narrowly targeted. What types of support might a Dentist need to help his practice run more smoothly? Perhaps they need help with scheduling, transcription and accounting matters. Would a dentist allow you to work with them virtually? That is some research that you would have to undertake. But, you get the point!
Now you can compare your skill set and knowledge with industries where entrepreneurs of all professions dwell. As another example, the Coaching field is wide open and many coaches need outside help. Again, the industry is broad but you can narrow coaching down to a more targeted group. There are life coaches, business coaches, voice coaches, fitness coaches and the list is truly infinite. Do your skills, knowledge and interests fit in with a specific industry?
Please remember the question I posed to you: “What problems do you solve?” Many entrepreneurs have online businesses and therefore need technical assistance to run their businesses efficiently. Are you tech savvy? You may be in a good position to work with any person who has an online business. For virtual assistants the possibilities of choosing a target market are endless.
Moving forward
If you match your skills, knowledge and adaptability to problems that entrepreneurs are facing, you will have much success in choosing a target market that is right for your business and be able to easily fill your practice with ideal clients. Choosing a target market will allow you to have a long, satisfying and profitable career as a virtual assistant!
Your Action Plan For The Week:
- List the problems that you solve as a Virtual Assistant.
- List a few of the results that your clients will get from working with you.
- Write down some of the financial, emotional, or physical benefits that your clients will receive from working with you.
- List the skills that you have to offer to your clients.
- Research 3-5 industries in which you are knowledgeable.
- Research where entrepreneurs in these industries hang out (blog sites, trade groups, associations, etc. Hint: Google Groups can help you with this.) Which group do you feel the most connected to and is easiest for you to find?
- Start focusing your marketing efforts on connecting with ideal clients in the target market you choose.