For a marketing campaign to work, it must be based on comprehensive and reliable market research. A lot of business owners make one basic mistake in terms of marketing their product or brand – having a general target market. This mistake is born out of the desire to target anyone who may be interested in their product or service.
Target marketing is an effective marketing strategy for big corporations and small business owners alike. Pinpoint your ideal customer and proceed from there. Targeting a specific group of people is likely to increase revenue while using up less of your marketing dollars.
Tips To Define Your Target Audience
As previously mentioned, in business, it’s a wise move to first define your target audience and create your own market niche. Also, do not just focus on what other companies or competitors are doing, pay attention to what they are not doing as well. If they have found their target market, then there may be another group or niche they may have missed. That is not to say that you should not go for the same target market if that is what fits your brand.
Here are some more tips on how to effectively go about defining your target audience or market.
Examine Your Current Customer Base
Sure, anyone is a potential customer, but blindly trying to market your product to everyone is not only ineffective but also a waste of your time and resources. One way to refine your target market is to look at your current customer base.
Who is buying your products or availing of your service? Why do they like and trust your brand? Zero in on the common traits, habits, or interests that they have. This will be a great basis for establishing your target market.
Figure Out Your Customer Demographics and Psychographics
Certain factors could help you determine who’s most likely to buy your products. First, you have demographic data such as age, gender, location, occupation, education and income level, family status, and the like. There are also more personal traits or psychographics such as attitudes and values, personality, behavior, interests, hobbies, and lifestyles.
The aforementioned information will help you determine whether your product or service would appeal to a person. It would also help to know which media they trust for information whether it is on various social media sites, in newspapers or magazines, on television, or other forms. Getting to know your prospective clients can help you create specific segments to target during your marketing campaign.
Build A High-Quality Leads List
Okay, so you’ve done all the research and gathered all the pertinent information to start hooking in those clients and start raking in those sales. Before you send those marketing messages to your prospects or posting those ads on social media platforms, you must first secure your leads list.
It is critical that you have a high-quality and verified leads list. This important list is something you could easily acquire from a reliable leads list provider like Powerline Leads. They only provide the best leads list that guarantees great results.
Once you’ve secured your leads list, make strategic list segmentation. Demographic and psychographics data, as well as all the other information you’ve acquired during your research, would help you in this task. Segmentation is a crucial step that is not really all that different from finessing your target market.
Target marketing does not necessarily mean cutting out people that do not fit your criteria from the picture. As you continue to improve and evolve your product, you may also have to redefine your target market. The world of business, after all, calls for an open mind and attitude to change and innovations. Just remember to keep track of your product sales and performance with every change you make to ensure the best results.
Research is a powerful tool for marketing and brand success. Make sure to use the information and tools that you come across wisely, maximizing their potential. For instance, using the properly segmented leads list you acquired from a reliable provider to effectively reach your target audience. After all, any information or tool is only as good as you make them.
Take A Closer Look At Your Product or Service
It’s a given fact that you must know the product or service you are offering thoroughly. When planning your marketing strategy, this will come in handy. Every feature of your product corresponds with use or benefits which in turn would attract a particular group of people.
Use your product specifications in narrowing down your target market. For instance, if your product is greatly beneficial to bone health, then you could narrow down your market to people who are health conscious. Then, you could further whittle this down to young adults who wish to prevent any bone-related problems and to the older market who are usually suffering bone-related discomforts and ailments.
You want to make sure you have clearly defined what problems your product or service resolves.
Study Your Prospect Clientele’s Pain Points
There are several pain points you must take into consideration. One of them is the Financial Pain Points of your prospects which will tell you about the changes they want to implement on their spending. This means that they are spending too much on the current products they use and wish to reduce their spending. This would translate to an opportunity for you to have them spending money on your products instead.
Next would be the Productivity Pain Points which means that your prospective clients feel that they are wasting their time on a product or service. This is something you would want to avoid at all costs. You could use this to further finesse your product and market it to that prospective client in a way that would make them see that your product is worth their time.
There are also the Process Pain Points which point to dissatisfaction in internal processes and a clamor for improvement in this aspect. This could pertain to your online checkout process, shipping and delivery process, or any offline processes.
Then, the Support Pain Points are essentially a call for improvement in customer service and customer support. Every step of the sales process is crucial to customer satisfaction. After-purchase customer support is equally important. Information on this particular pain point could be your springboard to refining your customer support as it gives you a clear idea of what your prospective client is looking for.