Before you start spending time and money on any type of marketing or advertising, you should be able to clearly determine your target market. These are the people that will have a legitimate interest and need for your products and services.
Here are 4 factors you should know when marketing and advertising to a particular audience. Without having this information and facts, you’ll have difficulty attracting the audience that you’re trying to target and sell your products or services to.
Who Are They?
Who are you trying to catch the attention of? For example, do you know your target audience age range? Are they middle-aged males or young females? Where do they live and what language do they speak?
This is a very important phase and it will also push you to think about a much broader range of questions for your business and marketing in general. Needless to say, when you determine your target market, not everyone will be the same age or live in the same place, etc., but having an ideal or an average in mind will help you customize your language and your messages to appeal to the right kind of person
How Much Do They Earn?
The earnings potential of your target market will tell how and where you promote, how you price your products and how you position them in the market. If your products are highly-priced, you won’t be selling based on price. You’ll be selling them more on the benefits you can bring the customer (and vice versa).
What Is Important To Them?
Knowing what matters to your target market can boost your business and sales in so many ways. To start with, you can use their values in all of your marketing communications to create your brand voice. Next, you can use what matters to them to think about possible problems they might have, and how your products or services can help them solve those problems.
What Are Their Interests?
Knowing the interests of your target market is another way to help personalize the material you create to build a deeper relationship with your customers. For example, start a Facebook group to discover and explore what your customers and prospects think about your brand or potential ideas for your brand. Be open to suggestions and complaints. Ask them what their initial thoughts are when you describe your brand, as this could help you to develop the right voice and offer the perfect products or services.
When you’re trying to identify your target market, it’s easy to forget the value of your brand. Branding is important for small businesses as well as large companies. If you have a limited budget, smart branding is perhaps the most inexpensive business tool you can create.