If you're freaking out about your business right now, you might be starting to flail around, wondering whether you should drop your prices or add more target audiences.
Avoid this temptation: it will only dilute your energies and discount the time, energy and money that you have already invested. Rather, get even more focused on the customers you serve best, and find new ways to entice them to utilize more of your products and services.
Here are 5 key questions to ask about your target audiences:
1. Which type of person (i.e. target audience) do the majority of my revenues come from?
2. Of that population, how do those people find me?
3. Which aspects of my product/service do they rave about most?
4. How can I reach more of those types of people?
5. How can I bring even more value to the products/services they buy most?
Answering these questions will help you create a strategic marketing approach based on what's happening NOW, not just what you think might happen someday. In this economic climate, such an approach is simply the best course of action.