The most crucial part of getting marketing to work for you is accurately describing your target market. Every company owner loves getting the most out of their advertising money. There is no point in promoting chainsaws to a 15-year-old girl living in the city. This is obviously an exaggerated example, but a lot of us do make mistakes in describing our potential clients.
A surprisingly common issue is not being able to tell the difference between the clients we want versus the clients we actually have. Have an honest look at who your clientele is. For example, you make extra-strength skin safe glue sticks, they could have two very contrasting client groups-school children and drag queens. The first using them during arts and crafts time and the latter gluing down their eyebrows before starting their makeup.
If you have a target group too small or too big, then it’s not profitable. Here comes the importance of finding balance. Broad target groups can reach your clients, however, you’re also spending huge amounts of money to reach more people, a large part of whom don’t care about your offer.
Four good measurements to narrow down your target group are behavioral, transactional, psychographic, demographic. There is a drawing next to the text, that explains the differences and illustrates the “golden zone” or in our case the lilac zone to aim for.
That will create the most balanced target group. The significance of the different sectors will be up to each company to adjust. In the case of already having established your company, the easiest place to gather data is from the clients you already have. Data is what will help you make the most profitable choices. Truly understanding how your clients act and think will be what helps you set yourself apart from others.
Keep in mind, you want to market to people who are actually able to buy your product. If you make products for young kids then marketing directly to them might not be the wisest idea. Children have a lot of influence over the purchase decisions, they do not have the ability to independently make the buy.
If you’re having struggles figuring out your target group and marketing to them, reach out to us. We are happy to help you out.
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