It’s easy to market to everyone, but doing so will seldom get you the results you are looking for. The majority of consumers or businesses out there have no interest in what you have to sell. You need to take an objective look at your product and your current clientele so you are able to determine who you should be targeting your marketing efforts on. In order for your direct marketing campaign to be successful, you need to establish your target market.
The first step in determining your target market is to understand exactly why your prospective customer would be looking for your product. Ask yourself what problem does your product solve? Also ask yourself what type of person would be willing to pay for your product as a solution to their problem.
When determining your target market, your own experience and knowledge can sometimes muddle your idea of what an ideal customer is. It’s best to let research lead the way and take assumptions out of the equation. By looking at the statistics of who has already bought from you, you can help narrow down your target market. Look for trends in geography, gender, age group, financial status and interests. All of these criteria can help you piece together a picture of your ideal customer.
The marketing strategy that proved to be your biggest money maker can also give you an insight to who your target market is and how you should be marketing to them. Do you sell more products in-store or online? Are most of your customers local or global? Answering questions like these can show you who your loyal customers are and how to best sell to them.
Evaluating your competition and their marketing strategies can help you define your own target market. Of course you don’t want to copy their marketing tactics exactly, but looking at how they market and who they seem to be marketing to will give you an idea of your industry’s ideal customer.
As you delve deeper into determining your target market, you need to determine whether or not you can effectively reach those people. Study your target demographic and their purchasing patterns. If you have a brick-and-mortar store, also look into your target market’s geographic location. You can use this information to determine if the people that live closest to your store are the same people who want to buy from you. If you are solely operating online, learning about your potential customers’ shopping habits can help you reach those customers.
As your business grows, so should your marketing. Over time you may have to redefine your target market and change how you market to them. You need to consider if the direct marketing methods you’re using now will still be effective later on down the line. You also may decide to expand your current target market, include other newly discover prospect groups. If you want to grow your business you constantly need to be working your marketing plan.
The best way to succeed at selling your products is to market directly to those who are genuinely interested. Once you figure out who your customers are, what they need and how they shop, you will have a good idea of whom you should be focusing your marketing efforts on. By arming yourself with as much information about your ideal customer as you can, you can push your sales rates over the top.