As entrepreneurs, small business owners, even as consumers, we have all heard the saying, “The customer is always right” countless times. This is a saying, though, that applies to more than just customer service. It also works with marketing. If you do not know what your customers want or even who they are, you will never be able to draw in those consumers who will become loyal, repeat customers.
And that’s what targeted marketing is all about – aligning your products and services with your ideal customers. The people who want what you have to offer and come to you to get it. Pity the foolish company that regularly attracts customers who aren’t satisfied, who don’t get what they expect, or simply aren’t happy with the products and services. Make sure that you know exactly who your target customers are and want they need or want from you before starting your target market campaign.
How to Choose Your Target Market
The first thing you need to formally determine is what it is you are providing to consumers – as in what you are selling to them and who your products are specifically designed for. There is a high probability that the products or services that you have to offer cater to the needs of specific people. Even if you have something that a broad audience would want, you can segment your marketing campaigns to target specific groups.
For example, you may sell hair care products, so most likely your largest target audience would immediately be women. But there are lots of different women with different needs. Some need color care and others need strengthening products. Then you may also sell a few products that fit a male audience as well. Dividing your market into groups allows you to know where and how to better reach these targeted audiences. In fact, you may even be able to market the same product to different people in different ways, such as marketing on Facebook to a younger crowd and using printed postcard campaigns aimed at an older audience.
Segmenting Your Ideal Customer
With hair care products in mind, segmenting your audience includes gathering a good deal of research on each group. Some of the ways you can segment your audience are listed below with examples. Keep in mind, though, that you will have to determine for yourself which information is right for you. You could choose only a couple of the following types of information or go even more detailed than the list below:
- Age (13-20, 65+)
- Gender (male, female)
- Economic status (poverty, top 1%)
- Education (college, doctorate, none)
- Psychographics (personality, attitudes, lifestyle)
Customizing for Your Audience
If you choose one type of individual that fills one of each of these segments, you would have a profile around which you could build a marketing campaign. So, a 26 year old (age) female (gender) of average income (economic status) with a masters (education) that likes to participate in extreme sports (psychographic profile) will have a very specific kind of likes and dislikes. Find out what her needs will be and focus a product and marketing method that will best be tailored to her.
Make sure to always gather the right information on your target market, and to continue updating your information, before launching a major marketing campaign. Your results will be much higher, your audience will be happier and more purchases will be much more likely to occur.