So, what’s target marketing anyway?
We get asked this question all the time. It’s really important that you know how to identify your target market. Target marketing is all about attracting people who have a likelihood of buying what you’re selling. Knowing your target market can be vital to increasing your current sales and establishing new customers.
Of course, there’s a bit more to it than that. You need to know who’s buying your products or services so that you can properly take the actions required to market effectively. That’s going to require some planning, research and analysis on your part, but it isn’t difficult to do at all.
The great news is that by directing your marketing efforts toward your target market, you have the advantage of knowing how to promote and what price points make sense for your audience.
In a nutshell, it’s just easier and/or more cost-effective to know your target market when you are marketing your products and/or services.
Check out this video to make certain that you are able to identify your target market:
Who is your target market?
There are a couple of ways you can determine and know how to identify your target. First, you should also consider who’s buying from you currently. Do an inventory to see who has been buying from you for the past 6 months – 1 year. What do your customers have in common?
If you want to learn how to get your target market to turn into sign ups and sales, then check out this article: How to Turn Your Social Media Prospects and Leads In to Sign ups and Sales
Here are some things to consider when establishing who your target market is:
- How old are they?
- What is their gender?
- What do they like to do (interests or hobbies)?
- What is their education?
- Where do they live?
- What is their occupation?
- What is their approximate salary range?
- Are they homeowners or do they rent?
- Are they married?
It will be well worth every minute you spend on this exercise, because now you can get laser focused on the “right” people.
For example, a skincare vendor with an anti-aging night cream might want to target their marketing efforts based on women 35 & older because they are the ones mainly using the night cream. Women below the age of 35 (particularly in the 18-30 year-old age range) aren’t necessarily concerned about their skin looking older. So, it would be a waste of money and time marketing to the latter group.
The other way to determine your target market is to determine the problems, concerns, pains (what keeps them up at night) that your products or service solve. Who has these problems? When you can determine those people, then you’ve identified your target market.
Certainly you can see the importance of identifying your target market. Now that you know how to identify your target market, the next step is to tailor your marketing efforts to those customers.
Now, go out and serve your market!