Class is now in session! So put your thinking caps on students and get ready to learn. Today’s lesson is: How to find your audience a.k.a your target market. Knowing who your target mark is the most important factor in marketing. It’s imperative that you know who will want your product or service since not everyone care or wants your service or product.
Too many people (including me) have made the mistake of marketing to any one they can reach. It’s wrong. Commit this to memory: Marketing to everybody is marketing to NOBODY.
Marketing to everyone will only waste your time (and time is money). After reading this, I’m sure you are thinking: How does one exactly find or select their target audience?
Well, we comprised a list of steps that will steer you in the right direction.
1.) Select a product or service that you want to sell (you may already have one at this point). Then, keep track of what problems your product and or service can solve. In business you are paid to solve people’s problems — That’s how you make a profit! For example, are you selling medicine that cures arthritis? Or better yet, do you provide organic dinners that are both affordable and ready-made? Follow this step first!
2.) When it comes to choosing demographic, consider their age range. Are they Millenials, Baby boomers or Gen-Xers? After you select their age range, consider your target’s yearly salary. Do they make 30k, 40k or even 90k+ per year? In addition, what’s their zipcode? What are their general interests (brunch, marathon running, sports, etc)? The more you know your audience, the more you can fine tune your targeting marketing approach. Once you fortify your approach and create a bond with this demographic, the more money you can potentially make.
Now before you make the next step, make sure you market to people who have money to burn. It doesn’t make any sense to sell products that are too pricy to others.
3.) Choose an advertising medium that will help you reach your audience. For example, millenials are often using social media to connect with friends and to learn more about the outside world. If you want to target this segment consider using Facebook, Twitter, Youtube, or blogging. Gen-Xers, as well as baby boomers, can easily be targeted via the radio or on T.V. For this step, there isn’t really a correct way to go about it. You will need to perform online (and offline) research. You can always start off with where you target demographic works, where do they like to hang out, or who is a major influencer in their zip code. No matter what, just choose one medium, and master it.
4.) Create a message that captivates your audience. Please don’t rush this step since it does demand a great amount of time. Why, you may ask? Because we are all inundated with advertising, on a daily basis. It’s hard not to find Ads on Facebook, Youtube, T.V., and everywhere else. Use your time wisely when it pertains to crafting an effective message that not only brings awareness to your audience, but it also grabs their attention. This step will not only help you make money, but also help you SAVE money. This step can get a bit tedious but remember that practice makes perfect. Keep testing, tweaking and refining your message until it reaches perfection.
5.) Last step, I promise! When you master steps 1-4 you can rest easy. Sleep well young grasshopper, you are about to get punched in the face with fresh cash.
If you want more Marketing/Business advice, visit Matt Dillingham’s website here.