Tips for how to come up with a target market
Chances are you know what your product is; now how do you get that out to your target market? Do you even know what your target market is? Typically a target market is defined as age, gender, geography, and other factors that lead to marketing a particular product to a particular group. So how do you go about defining your audience and zeroing in on your target audience? We will discuss some tips for how to come up with a target market below.
What are we marketing?
What product are you trying to get out in the market? Get a team of people together and sit down, discuss who would want your product, where are the best geographic locations to market your product, who can afford your product, and what need does it fill to a consumer? Once you know the answers to these questions, you can narrow down your target market. Make sure to be clear with however you go about designing marketing materials. Any confusion or question marks in their mind, you have lost them as a potential client.
What's in it for the client?
Everyone wants to know how your product will benefit them. What looks good to you doesn't always look good to others. Be sure to have a focus group to look at all marketing materials before they go out the door. Don't guess at what your consumers want, take the time to do some research.
People are naturally resistant to new and unsure circumstances. You need to make sure they can research your company easily. Having a good website is a must! Be clear and to the point and put your contact information on every page. Make your company be a safe zone for them. Your client should feel comfortable buying or recommending your product.
Are they compelled?
You need to also discuss the emotional needs of the clients. What does your product do that "wow's" them. You want to make them excited to buy your product or pitch your product to their executives. Good marketing materials always help. Make sure everything that promotes your company has the following:
- Powerful Headline
- - Call to Action
- - Contact Information
The goal is to impress the client in the headline. It compels them to read on. Giving them a reason to look into your company more is a great call to action. Lastly, make it clear how you can be contacted. If they are impressed and want to do something, make it easy to get in touch.
Build the relationship
Now that you know about your client's needs, wants, locations and financial situation; sit down with your team and discuss how you are going to market to your target audience. Building a strong relationship is the key in developing a target market. Following up with an inquiry is so important. Failure to do so will only break down the system and you lose potential clients.
The great part about target marketing is that it can be the key to a small businesses success. It makes the promotion, pricing and distribution of your products easier and cost-effective. It focuses on clients that want what you have to offer. There are many ways to send out target marketing pieces; direct mail, e-mail, telephone calling, etc. It makes it cheaper on your marketing budget since you only need 100 flyers printed versus 5,000. Not only is this saving you money, but you are sending information to people who actually care about what you are promoting. If you follow the above tips and work hard without getting in a rush, you will have your target audience growing and improving the profitability of your business.