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How Accountants Can Identify Their Ideal Target Market – Practice Builder Publishing – Tools & Resources For Accountants And Tax Practitioners


How Accountants Can Identify Their Ideal Target Market

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Today, we’re going to talk a bit about identifying your target market, the audience for your offer that can’t be refused.


To begin, you need some clear demographics of your target market. You need to know things like your target market’s age, household income, education level, marital status, and even their gender.

One way to do this is to start with a profile of who’s visiting your website. After all, they’re either interested in you, or they are actively shopping for a service provider.

One way to do this is visit a site called Quantcast.

Quantcast has tools that let you add a snippet of code to your website and then they will gather the demographics for you in an attempt to determine if your website fits the profile sought by one of their advertisers.

You could theoretically use this to research your direct competitors, but only if they have installed a snippet of the code on their site also.

Another way would be to use the Facebook Audience Insights app, but that only works if you have a very large Facebook audience of followers.

The third method would be to use the Demographics and Interests part of Google Analytics.

Whichever method you use, it will help you determine more about your web visitors, and allow you to create more targeted promotions, and advertise in the right places and with the right tools.

For example, if you are targeting 45 year old men who own their own auto repair shop, then LinkedIn would likely turn out to be a better choice than SnapChat.

You should also interview your clients, or review your client files. (Being sure to analyze them in the aggregate so that no identifying characteristics are noted for any single taxpayer.)

Your information should help you understand what your market is like in terms of age, gender and ethnicity. It won’t tell you why, how, and where they want to buy, though. That information will usually only come from in-depth questioning, backed by the online insights you’ve gathered.

[bctt tweet=”Your information should help you understand what your market is like in terms of age, gender and ethnicity.” via=”no”]

An alternate method of getting why, how and where insights would also be to search online discussions about your business or type of business in online forums and groups. The only problem is that this usually won’t give you all the insights you need. The good thing about it though is that it is raw and unfiltered opinions which can sometimes be useful.

Once you’ve gotten your data collected, it’s time to develop a clear buyer persona.

As we discussed in our previous post, a ‘Buyer Persona’ is a fictionalized ideal client. This profile not only includes the objective information you have collected, but also your own subjective interpretations of this dat.

Top performing lead generation campaigns usually fit closely with a specific persona. This means that knowing your client person inside and out is key to crafting better promotional literature and offers.

[bctt tweet=”A ‘Buyer Persona’ is a fictionalized ideal client.” via=”no”]

If you don’t have in-depth personas, you should at least be able to describe your target market in one sentence.

Here’s a specific example:

’45 year old married males who own a small auto repair shop within five miles of my office, and who like to hunt.’

Tomorrow, we’ll follow this train of thought and start thinking about creating an offer for this target market persona.

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