Target Market?

crowd150.jpgDo you know who you are targeting?

When starting a business, one of the most fundamental tasks that face us is identifying our target market.  So many of us make the mistake that our practice or business is going to be for every one.  Obviously that is not the case. 

When we identify just who is our target market, we can then tailor our practice or business to best suit their needs.  We’ll also be able to point out just how we can make our primary care office completely unique and differentiate ourselves from other primary care offices. 

Here are a few things to think about when you’re trying to identify your ideal client/patient.

1.  Take a look at your specialty area.  As an NP, that will play a big role.  Obviously if you are a pediatric nurse practitioner, you are not going to be targeting an 85 year old woman who lives in an assisted living facility.
2.  Next take a look at just who you want to work with.  For example, just because you’re in FNP, it does not mean that you necessarily want to have a lot (if any) children in your practice if any.
3. Other things that you’ll want to consider include age, gender, types of health concerns, and perhaps even the individual’s income bracket and type of insurance.  All of these factors will certainly impact the type of business or practice that you have. 

You’ll also want to look at what makes your business unique.  What is it that you are doing that will set you apart from the primary care or women’s health care office down the block? 

And finally, how are you going to do it?

So for example, let’s assume you are a women’s health care NP, and that your practice is “The Main Street Women’s Health Care”.  Your ideal patient is women between the ages of 18 to 65.  The majority of these women will have commercial health insurance, and have income that allows them to purchase things that are not covered, such as, compounded hormonal therapy or nutritional supplements.  Perhaps as an aside you’ll also offer medical spa services, which require adequate disposable income.  Your practice will be different from Best Women’s Health across town, because you will be open on Saturday morning (in addition to the spa services).

This is a rather simplified approach to identifying your target market and what is unique about your business. It does however, give you an idea where to focus your energies and make sure you market your practice to the right group of clients. 

(c)2007, Barbara C. Phillips, NP

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