Week 4 Part B: Defining YOUR Target Market

When identifying my target market, it is important to think who will benefit the most from my services or product. One thing i found when initially thinking about a Finance and Accounting recruitment company, and one of the reasons why i wanted to start t a company in this industry is that anyone who has a business, small or large, will have accounting needs. They will always have to file tax returns, or keep track of revenue, and stock and payroll etc, so to me it feels like anyone with a business can use a Finance Recruitment business. According to Frontline Source Group, as many as 90% of companies use a staffing service. Whether you are seeking direct hire, trial hire, or temporary talent acquisition services, there are numerous advantages to partnering with a reputable staffing agency.

However, just because a business will always have accounting needs, this does not mean they will use a boutique search firm and there could be many reasons for this. 

When looking into my target audience, it became clear that the larger the company, it is more typical that they already have either in house recruiters, or a 'preferred' company they use for all their hiring needs. So the time and effort spent trying to gain the larger companies as a client may be wasted. Even when i looked into smaller, established companies, it could be that they already have a preferred recruiter that they work with when they find the need, so this also might not be a great audience. 

However, I think it is important to go back to what the services could offer my target market. So who is looking to hire talent? Newer, smaller, fast growing companies, or businesses that find them selves in a transformation stage. Whether that be because they are rearranging the organization, whether they are going from Private to Public, or whether they have grown so much that the workload is now un manageable so they need to add extra headcount to be more efficient. This would be my main focus and this target audience is where I feel I would gain the most clients. 

Overall, I think that the great thing about Finance and Accounting Recruitment is that there will always be a need. Not every business will be a perfect clientele, but the need is there and it is worth being flexible so you can work with many different businesses to help them transform their Finance and Accounting needs.