The beauty of target marketing is that it makes the promotion, pricing, and distribution of your products and/or services easier and more cost effective. Target marketing provides a focus for all marketing activities. Your purchasing target consists of the individuals or businesses within the defined target market that need the product or service and can actually afford to purchase the product or service. Purchasing Target = People who form buying centers, that is, those responsible for purchasing the required products or services for a company or organization. The communication used to target this market is referred to as the communication target. The messages sent through the communication target can be presented both formally or informally. Communication Target = the objective of the communications to the customers. For example, the objective could be to increase awareness of a brand by 10 percent or to sell X number of units.
The first job when profiling a target market is to precisely identify the audience and to determine the purchasing target through communication channels. Can you accurately describe the characteristics of ideal customers? Which customers currently spend the most? Why do they do this? If you don’t know the answers, it is time to stop, evaluate, and find out. Business owners most likely already have a good idea about the groups of people or types of businesses to whom they can sell a product and/or service. Individual customers may be people of a certain age, gender, socioeconomic status, occupation, or a group with common or special interests, such as sports or hobbies. Business customers might be located in a specific area, or in a particular sector, or could have similarities in terms of the customer groups. The objective should be to concentrate marketing on groups of people, businesses, or existing customers who are most likely to buy a product or service. This takes experience, but once a target group of people or businesses is identified, you’ll have completed the first step in profiling the identified market and now have a list of target prospects who are ideal customers.
Don’t forget existing customers or, even better, customers of competitors, if that is possible. Double-check to ensure the marketing message is right for the selected target market. Once communication with the target market takes place and customer needs are confirmed, you’ll be in a position to create or adapt a marketing proposition to sell the benefits of the product or service. Consider carefully whether there is anything further that will make the marketing message even more appealing. Will these communications convince them that the product or service being offered can provide the benefits that meet their exact needs?
Once you know who your target market buyer is, you will have a far better chance of being able to create marketing copy for your company that will appeal to what they want. For example, if your target market buyer is a 20-something single businessman, he’s probably more interested in his mindset of what looks good and what will attract positive attention than what the actual product or service item costs. This target customer will be attracted by marketing campaigns that state “Stand Out From the Crowd” and “Lead the Pack” than he will by ones which just list features that can be found on other similar items elsewhere. On the other hand, if your target market buyer is busy mom on a tight financial budget, then using marketing copy that has headlines such as “Need to Find Extra Time in Your Day?” or “Increase your Time for Less Expense” (if these are appropriate to your product/service) will have a much better appeal to this target market audience.
Having identified your target demographic audience, you’ll not only be able to use this information to increase your lead to conversion rate, but you’ll also find that you are able to run a more effective advertising campaign where you put ads for your website in websites or in other media where this demographic is likely to hang out. This is where the analysis of what interests a particular demographic audience has its main power. It may seem like a lot of hard work to identify your target demographic audience, but you’ll find that it will increase not only your lead to conversion rate, but your profit margins. In the long term, this time well spent in identifying the right target audience with the right message that they want to hear, will pay off. Share
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The first job when profiling a target market is to precisely identify the audience and to determine the purchasing target through communication channels. Can you accurately describe the characteristics of ideal customers? Which customers currently spend the most? Why do they do this? If you don’t know the answers, it is time to stop, evaluate, and find out. Business owners most likely already have a good idea about the groups of people or types of businesses to whom they can sell a product and/or service. Individual customers may be people of a certain age, gender, socioeconomic status, occupation, or a group with common or special interests, such as sports or hobbies. Business customers might be located in a specific area, or in a particular sector, or could have similarities in terms of the customer groups. The objective should be to concentrate marketing on groups of people, businesses, or existing customers who are most likely to buy a product or service. This takes experience, but once a target group of people or businesses is identified, you’ll have completed the first step in profiling the identified market and now have a list of target prospects who are ideal customers.
Don’t forget existing customers or, even better, customers of competitors, if that is possible. Double-check to ensure the marketing message is right for the selected target market. Once communication with the target market takes place and customer needs are confirmed, you’ll be in a position to create or adapt a marketing proposition to sell the benefits of the product or service. Consider carefully whether there is anything further that will make the marketing message even more appealing. Will these communications convince them that the product or service being offered can provide the benefits that meet their exact needs?
Once you know who your target market buyer is, you will have a far better chance of being able to create marketing copy for your company that will appeal to what they want. For example, if your target market buyer is a 20-something single businessman, he’s probably more interested in his mindset of what looks good and what will attract positive attention than what the actual product or service item costs. This target customer will be attracted by marketing campaigns that state “Stand Out From the Crowd” and “Lead the Pack” than he will by ones which just list features that can be found on other similar items elsewhere. On the other hand, if your target market buyer is busy mom on a tight financial budget, then using marketing copy that has headlines such as “Need to Find Extra Time in Your Day?” or “Increase your Time for Less Expense” (if these are appropriate to your product/service) will have a much better appeal to this target market audience.
Having identified your target demographic audience, you’ll not only be able to use this information to increase your lead to conversion rate, but you’ll also find that you are able to run a more effective advertising campaign where you put ads for your website in websites or in other media where this demographic is likely to hang out. This is where the analysis of what interests a particular demographic audience has its main power. It may seem like a lot of hard work to identify your target demographic audience, but you’ll find that it will increase not only your lead to conversion rate, but your profit margins. In the long term, this time well spent in identifying the right target audience with the right message that they want to hear, will pay off. Share
Bookmark this on Delicious
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