Targeting your market is the single most important thing you can do in your marketing strategy. Screw up this step and your business will definitely suffer. So how do you pick your target market? It is pretty simple, think of your top customers and pick the markets they fall into. At ActionCOACH, the things we tell our clients they need to know about their target markets are:
1. Age – Most companies can sell to any age but for the purpose of defining your target market, it is best to get real clear on this and narrow your targets down to a 10 year age range. You might find that although you could sell to anyone, you and your staff deal better with a certain age group. Target them with your marketing and let the others come along as they happen. Think of McDonald’s and how they serve kids and target their marketing toward children. Do they not sell the adults too when Moms and Dads buy the kids a happy meal?
2. Sex – Male or Female? If you think of your current, best customers they will come down on one side or the other regarding sex. This is your target and writing your marketing pieces with that person in mind will help you be more specific in your marketing.
3. Income Level – Again, what is your ideal income level. You can imagine that if you’re trying to sell quality and your target is looking for bargains, the marketing is mismatched.
4. Where do they live – Are they local or do they come from a broad area to your business? The media that you use to communicate with your target market will be influenced by this criteria.
5. What are their hobbies – If you don’t know their interests, how are you going to know the hot buttons to write about in your marketing pieces? You could write about the topics you find interesting, which is a mistake if it is different than your target’s interest.
In addition to the above 5 areas, breaking your targets into micro segments and creating a marketing strategy around each will also increase your marketing effectiveness. For instance; let’s say you sell ovens to restaurants. If you offer ovens to everyone then your message is somewhat bland and won’t hit anybody’s hot buttons. However, if you break your marketing into segments like Italian restaurants, French restaurants, Tex-Mex, etc. your marketing pieces can address specific issues those particular restaurants have.
For help getting clarity for your Marketing Plan in your business contact Roger Hawk at firstname.lastname@example.org or reply to this blog.
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Roger Hawk is the host of “Hawk’s Eye On Business: KBOI News Talk AM670” and has been coaching, teaching & consulting Businesses for over 18 years. He’s been seen in Who’s Who, Virginia Tech’s Scholar Library, Eagle informer and various social media forums. He serves on Eagle’s transportation committee, and has created numerous support tools to help Business Owners become financially successful.
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