Who is your target market?
You hear it all the time….how to reach your target market or target audience. But, who is your target audience, and how did you determine it? Defining an accurate target audience is so important to small businesses because it helps you compete against those larger companies. Marketing to everyone is not possible, nor is it an effective way to spend your ad budget. You are increasing the chance of someone purchasing your product or service by focusing on a specific type of person, whether it’s age, gender someone with kids, etc.
Determining Your Target Market
Who are your current customers? Try to get as much information about your customers so you can use this to determine the market you need to be targeting. Get demographics such as:
- Family status: married, single, kids, etc
Create Your Buyer Persona
Come up with a fictional character(s) that embody who your customer is. This will help you to create advertising and email campaigns that resonate with this “person.” If you understand who you are marketing to, it makes your advertising that much more effective!
Did you uncover any trends when looking through your current customer database? Use this to start creating your buyer persona.
Where Can You Find Your Buyers
So, you have your buyer persona nailed down…now where do you find them to make sure they are seeing your business, both online and in person. If you are marketing a summer camp for kids, running an ad on a website like myactivechild.com would be a great place to start online. Post-COVID and restrictions, setting up a booth at a local farmers market could also be an ideal spot to catch moms and dads with a higher disposable income.
What kind of data do you already have?
We are entering into the age of privacy, but that doesn’t mean you can’t ask for information from current customers. What do already gathered in your CRM and what other information can you ask for. Ask for their birthday so you can offer them a birthday discount! This will help give you a better understanding of who your customers are…boomers, millennials, etc.
Get More Information
Run surveys or start a rewards program to start gathering data. There are free survey tools out there like SurveyMonkey and ask questions like where they found out about you and start targeting those channels for more customers. You can also gather information like why they decided to purchase your product or what they like best and use that to create more targeted bottom-of-the-funnel content. This can help convert a potential customer into a customer.
Happy Monday! Have a great and productive week!