Target Market

Who’s My Target Market?

I finally started working on my business plan which has been helpful for me in evaluating my company.  I have always had a general plan of what I was doing, but writing it down really brings clarity to what my goals are, and what I need to figure out.  One of the things I have been doing a lot of thinking on is who my target market is.

Figuring out who our target market is, and who I should be marketing to will help me focus my efforts in finding new clients.  When I first started I was trying to find new clients everywhere, and my efforts were slit.  I often get contacted by independent filmmakers, small companies, and individuals wanting to make an animation.  Which is great, but most of them have little or no budget.  I spend a lot of time and effort trying to work with their limited budget to make things work, but in the end it is just not possible for me to be involved.

I can only reduce my rates so far until I’m taking a loss on the project, and if it was a great opportunity that would help build my portfolio I might consider it.  Issue is that they are working with such limited budgets that the end project would end up looking cheap, and that is not the kind of work I want to be putting out there.  These groups are often better off working directly with the artist or animator, and don’t need someone like me to produce it.

I realized that my company is best suited for projects that require larger teams and more moving parts that needs someone to keep it organized.  This is why advertising agencies and studios are my target market, since they have the budgets that can support larger projects.

I don’t know much about advertising agencies, so I started doing a lot of research on them.  I wanted to know who hired outside production companies, so I would know who the best person to contact is.  I have been doing everything from contacting people that work at ad agencies to watching The Pitch TV series on Netflix.  Watching the show actually has given me a better understanding of the inner workings of an advertising agency, but I would love to hear from anyone that works at an ad agency how accurate the show is to reality.

I have also started the search for a commercial representative.  They are like an agent for production companies that help bring clients and their projects to the companies they represent.  I’m looking for a representative that does not have a monthly fee, and only takes a percent of the revenue from a project.  That way if they are not bringing any work to the studio it won’t cost me any money.  If they do find clients I’m happy to give them a percent, since it is work I would not have had without them.  If anyone knows of a good hardworking reps please let me know.

These are some of the things I’m working on to help grow my business.  There never seems to be enough time in each day to get everything done.

 

If you have not already, please join me on my journey by subscribing to my blog.  Also, if you have any thoughts or advice I would love to hear what you have to say, so please feel free to leave me any comments below. Otherwise, be sure to stay connected with me on Twitter (@MillerAnimation). Only Time Will Tell.

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2 thoughts on “Who’s My Target Market?

  1. Eric;
    Your efforts certainly are a great start. Identifying your target markets is key to ensuring that your marketing efforts (and costs) are pointed in the right direction.
    Myself, as a sales person, appreciate the efforts of a good marketing campaign because a good marketing campaign sent to the right target market will provide me with beneficial leads.
    Now the next step, and I say this from the sales perspective, “what is your Value Proposition”? What is it that you have that sets you apart from the competition. What is it that I can take to those leads that provides them with a value that no one else has.
    Good luck with the next step!

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