Why Are Key Success Factors So Important to Know When Target Marketing

A while back you may remember that I did a post on the key criteria for determing how you know what potential market segments are the most viable for you, as an important preface to choosing which segments your business will and wont target.

As a key step to effective target marketing, you need to be able to isolate what the key success factors (KSFs)are for each potential segment and match these up with your businesses ability to deliver this aspect of product or service.

So in other words the KSFs are essentially must haves that if you don't have or can't arrange to have, means you will lose if you compete in that segment against rivals that can provide those essential aspects of the product or service being sought after by the target market audience.

For example if you are looking to start a restaurant and are seriously considering a pizza style parlour, you will certainly need to provide the following KSFs. To begin with you will need to provide a large assortment of pizzas. They will need to come in a least 3 or 4 sizes. You will need to be able to buy soft drinks with those pizzas and probably even desserts. Etc.

Failure to consistently provide these will mean you are not providing the minimum acceptable level of service expected by your would be clients.

Now of course doing all this, still will not mean you have a meaningful point of difference to differentiate you from other rivals but at least you are in 'the ball game'.

Differentiation is another important topic which we will look at in future blog posts.

What about you and your business what are the the KSFs for you.

I hope this is of help to you and until next time, good luck and good marketing.

Daniele.