If you’re a small business owner, you’ve probably got an idea of what your target market is. If not, you should start thinking about who they are and adopt a target marketing strategy. It’s not enough to have a vague idea or decide you want to target everyone. To succeed better and faster, a small business must target a specific group of people.
The target market has to be described in detail, covering age, gender, income, location, occupation and household size, among other things. Marketing experts can help you define a specific market that considers these demographic factors as well as other psychographic and lifestyle influencers.
Here are the top reasons why target marketing will help your business.
Save Time and Money
Marketing is expensive. You can get far more value out of your marketing efforts if it targets a specific group of people you want to reach. When you set your sights on a narrowly defined profile, you can focus on concentrating your marketing in specific spaces.
This means you spend less time negotiating deals and finding spaces for adverts. If you decide to target a broad range of people in your marketing efforts, that means you need to develop different marketing strategies and designs to reach each type of person. This will be very expensive and take a lot of time to do. Targeted marketing will also improve response rates as your message is more relevant to the people receiving it.
Marketing analytic tools for the internet are extremely advanced nowadays, allowing you to not only determine how to communicate with your target market but to track the results. Over time you can refine your marketing efforts further, leading to improved results with greater reductions in cost.
Everyone likes being understood or related to. It’s a powerful emotional response that can have huge advantages for a business. For your customer to read about your services and feel like your business knew what was on their mind is one of the greatest things you can achieve. In their eyes, it makes your business seem knowledgeable, personable and competent.
By relating to the customer and talking to them in their own words, you make your business the logical choice for them. You simply can’t build this relationship when you’re trying to be everything to everyone.
Create a Memorable Identity
Some businesses worry that by focusing on a target market and neglecting everyone else, they are reducing the range of potential customers. This is rarely the case. When your product or service gains traction with a popular and easily identifiable group of people, it becomes memorable.
The discussion generated by this traction is essentially free promotion of your business. You’ll soon find your customer base extends far beyond the audience you targeted simply by establishing a reputation of consistent and popular services or products.
Saver6 is a small business support platform with 25 years of experience providing business models and supporting small businesses. We can provide a range of services including targeted marketing, website development, training, and accounting. For more information about our targeted marketing services, get in touch with our team.