Determining your specific market is the most efficient way to execute your advertising. After all, if you know who you’re trying to sell to, you can determine the specifics that can really influence your target market.
Spending your marketing dollars in order to relay your message to the general population will work. However, why not make the most of your money and increase your odds of sales by targeting a specific audience? For instance, if you’re selling landscaping tools, it’s pretty useless to pay to have your ad ran in a women’s lingerie catalog- they aren’t the market that you’re trying to target.
By specifically targeting a certain group of people, you improve chances of successful advertisement. Direct your marketing and you will surely be making the right sort of investment in your advertisement.
When you know who you want to sell to and where they are, you can figure out the best way to reach them. Knowledge about your market’s location, income and needs will help you decide what method of advertisement you should use.
In order to figure out the information you need to best sell your product or service, you’re going to need to do some research. Data such as average sales of your type of product is imperative information of which to be aware. Research is of the utmost importance when it comes to those who are just starting a business. Without vital information consisting of simple facts and figures, you are sure to run into loads of disappointment. Of course you will always have obstacles, but your efforts should include trying to minimize mistakes.
A “target market” is the group or kind of people who are most apt to purchase your product or service. Ignore your urges to advertise to the general public in hopes of increasing market spread. Rather, you should define your market as specifically as possible.
Step 1: Raw Facts and Figures
• What is the age range of your target market? – This is extremely important when deciding what type of message to convey to your prospects. The “voice” you choose to create depends heavily on the age group of your market.
• Girl or Boy – Are your target customers male or female? If you believe its split down the middle, find some other way to narrow it down.
• Location Location Location – Where do your prospects reside? Where do they most likely shop? Try to narrow it down to specific cities or zip codes.
• What sort of jobs do they have? – Do they make a lot of money or are they more of your average joes? Corporate lifestyle or mostly homemakers? The type of job they have helps you narrow down who can afford your product as well as when they would be most likely to purchase it.
Step 2: Narrow it Down
You’ll now want to go even further. Look into the more specific details of your prospects lifestyles in order to really narrow it down.
• Do they spend more time at home or at work?
• Do they have children or take care of family?
• Are they available weekends?
• How often do they need your type of product or service?
Step 3: Psychology 101
You’re going to really need to get into the minds of your target market. Think about questions that might affect they way they think or react, such as…
• Who most influences them? Family, neighbors, spouses? How can you target them indirectly?
• Why do they make purchases? Why would they buy your product? Specify the benefits of your product and how it can help them.
• What type of message most appeals to their personality? Advertising a rock band to a group of teenagers needs an entirely different feel than an advertisement for a mattress company.
Step 4: Who’s your favorite?
Study your favorite client to get information in a case study manner. Who are they, where do they live, and what are their specific demographics, such as age, gender, marital status, etc. These things will help you identify people like them that will respond positively to your marketing.
Step 5: What’s their value?
Determine the type of clients that will help maximize your profits.
• Who will make the largest purchases or the most frequently?
• What type of clients will return to you?
• How likely are they to refer other clients to you?
Specifying the type of people that will most likely buy your product or service is imperative if you want to truly utilize the money you spend on advertisement. Not only will you be able to better determine the hows, wheres, and whens of advertisement, but you will also be apt to receive the most success among your target market.