The Importance Of Figuring Out Who Your Target Market Is
Imagine for a moment that you are selling a local food product in Tucson, and only have a certain number of samples to hand out to potential customers for the day. You distribute them freely, and just half of the people who try those samples end up buying from you. Now imagine you had a superpower that magically showed you which individuals were allergic to one of your ingredients, or disliked the type of product you’re offering. You would then be able to hand “their” samples to people that would like the product. Suddenly, the amount of product you sell increases substantially.
It’s the same product, the same number of samples, and the same style of marketing. The only difference is that “superpower” you put into action. That’s what researching and discovering a target market can do for small businesses.
Every Dollar Counts
While your marketing reach may be broad at some points, e-commerce, in particular, has been trending towards a more customized approach. With so many options readily available at your fingertips, the importance of determining your target audience is abundantly clear. When you know who is likely to buy from you, there is room to avoid wasting marketing spend on ads that fall flat on non-interested parties. Small business owners can instead focus on digital marketing created to engage and succeed. No matter what your marketing plan may be, you should always be aware of ROI (return on investment). It’s relevant for each ad placement you select or social media campaign you create.
Some problems that may arise with using a marketing strategy that’s too broad is that it:
- Is statistically likely to have a higher failure rate, requiring greater spending for the same amount of sales.
- Makes retargeting efforts expensive and potentially even impossible.
- Requires investment in platforms and creative work (graphics, content, etc.) that may be ineffective.
- Risks muddling brand identity, doing long-lasting harm to future targeting, and brand recognition.
Informing and Enticing
Content, particularly blogs and articles, is an excellent way for a company to capture the interest of potential customers. Certain content, such as instructions, about us pages, and new product launches are a necessity. Yet they could still benefit from targeted search engine optimization (SEO). This proven process incorporates words and phrases that a customer is likely to search for, in an easy-to-read way. For our imaginary Tucson-based food company, a blog about their new and improved keto-friendly formula might include phrases like “keto food manufacturer in Arizona” or “Tucson keto food manufacturer” to help connect them to their demographically-targeted customers.
How Do I Target the Right Demographic?
If you’re anxious to put these methods into action for your own business but aren’t sure where to start, the first step is partnering with a pro. StratGrow can help accelerate your sales growth through smart marketing research and target audience implementation. By working with us to discover your target market, ad language, and tone, you’ll obtain the peace of mind that your marketing budget is always spent wisely. Additionally, you’ll be able to determine which social media platforms are worth your time and energy, and which have the most efficient ROI. The end result is a streamlined approach to speaking with your customers, and sales numbers that tell you yes, you’re on the right track.