Target marketing is about marketing to customers who will buy what you are selling. It is targeting the right customers.
Target marketing is broken down to who, where, why and how.
Who are the people who need the product and services? This includes demographics such as gender, family size, educational level and occupation.
Where is all about the geographic area. There are the places where your customers can be found. Be sure you learn well about the location of your target customers.
Why, is why do this particular group of customers make the choices that they make? This has to do with the lifestyle, and personality of the customers and their buying patterns.
How is on the behavior of the customers. How do they behave, how do they regard that need? How do they perceive and regard your product? How much information about your product do you have to put out there to support that customers need?
How do you research your target market?
Thanks to new technology, you can research on the demographics of your customers. Social media profiles allow you to see a breakdown of the followers. In Facebook, on the admin area, you can see the gender and the age of the followers. If you have your customers’ emails, some software can give you detailed demographic information about them.
If you have an online payment system, the payment processor is able to collect this information on the buying habits of the customers. What are they buying? How much is the average purchase? What time of day do they visit your website? What are the seasons that your sales are high or low?
As you research on your customers, here is what you need to know about them
- Interests and hobbies
- Where do they live? Helps in calculating costs of delivery
- How do they make a living? Helps in knowing how to package the product, casual, formal, to deliver or not
- What is the range of the money they make? Helps in pricing
- How to use target marketing to increase your sales
Beat your competitors at niche markets
You must have a competitor in whatever industry you are in. However, in identifying your target customers properly, you will get a niche that is not served properly and take advantage of that. Take that niche and give the customers what they are not getting from the competitors.
Building a loyal customer base
If you are making your customers happy, they will be always be loyal to you, and that same way they will spend money on you. Drawing your ideal customer image helps you clearly understand what they need and tailor make your product to meet that exact need. There is only one key to customer loyalty, make your customer happy; but remember you can’t do this if you don’t know well and know what they want.
6 Ways to defining your target market
Whatever it is that you sell, be it goods or services, understanding your customer makes you maximize your sales. In this case, you need to properly define your target market, so you are sure you are marketing to the right people.
- Understand what you are providing
Are you solving a problem with your product? If so, which one is it? Identify what you do clearly, write it down and how it is helping the people you plan to target. Once this is clear, you will have clarity in drawing who will benefit from this.
- Paint a clear picture of the customer
Clearly draw up your ideal customer. Who is this person that will be helped by this product, or solution that you are offering? Ask yourself the detail of these customers. Are they male of female? How old are they? Are they married, single, or divorced? What are their interests? How will they use what you are offering?
- Study the market
Thanks for the web; we can deliver personalized products and services directly to the person that wants. Find if there is a niche you can get from the current market, then be the big fish in that small pond. Segment your market, and pick the area that you will focus on. Choose if you want to work with particular type of people, a particular geographical location or in specific industries.
- Study your company
Before you target a market, you should have evaluated your company and seen what you can provide. What are your strengths? What particular area of expertise do you have? Hwtever your strengts are, how can you build your business around them? Are you better with getting along with certain kind of people?
- What is the extra mile you can go?
Go the extra mile to make your customer happy. Offer what is not being offered by the competitor or exceed the customers’ expectation in value. The truth is, not a lot of businesses are going the extra mile, therefore, going the extra mile puts you at an advantage. There is a saying that There is no traffic at the extra mile.
- Why you are uniquely placed to solve the problem?
How unique are your products and services? Have you tried to do things differently than other people in business are doing? You have to convince the customer why you are the best person to solve their problem, in the most unique and satisfying way.
Once you know your customers, and target them, you get more returns on your marketing campaigns through target marketing. The return on investment is what you need and at the end of the day, happy customers. If you would like more content on making your business grow online, drop your email below and we’ll keep you informed.