Defining Your Target Market

February19

Defining Your Target Market

No matter what new technology comes along the most important part of your marketing strategy is your understanding of your target market. It’s too important for your brand to not recognize that if you are not targeting your market correctly than you are missing out on tons of opportunity to provide your product or service efficiently. Everyone knows that marketing is important but we sometimes get lead astray from focusing on our target market with a laser focus.

How do you identify your target market? First you have to think about what you sell, how you sell it, what its perceived impact is and from the customer’s point of view, all the reasons they might buy it. Here are some thoughts, write them down in your favorite notepad, Google Drive, spiral journal, whatever’s handy. But do right them down.

  • Do you have the best customer service? (Are you and your team going the extra 20 yards on every service call?)
  • Do your customers really like you? (Is your response time out of this world, like 15 seconds later they have you on the phone.
  • Are they buying a perceived benefit? (How does one differentiate motor oil, perceived benefits)
  • Do you sell at a low price?

Once you’ve answered these questions you can consider the your own specific marketing. If you sell photos who do you sell them to? If you write contracts, who do you write them for? If you want to target a new audience how do you capture that new audience? Your strategy will be dependent on that audience and their mannerisms.

  • How do they talk, vernacular.
  • Where do they shop now?
  • What’s their attention span? How easy is it for them to lose interest in your product or service?
  • How long does it take for them to make a buying decision?
  • How long will their current service provider last, what pain do they feel for switching.
  • Is your product or service seasonal?

Your audience can be infinitely different as an individual or subset of a group but at their base your sales will depend on the first four questions about how you are different from your competitors. (Price, likability, customer service and benefits.)

If you need help determining your target market or another marketing question we’d be happy to do a free consultation. Email or call us today.

  • Posted by Christopher Edwards
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