Increase Your Income with Target Marketing
Target Marketing: Demographics
Not every product appeals to everyone. That’s why marketing is so vital; it’s the process by which potential customers are identified and “targeted.”
In other words, on target marketing is finding the people who will be most helped by the product or service your small business is offering, and then letting them know exactly how you can make their lives better.
The people who make up your target market are the ones most likely to purchase your product or service – so it makes sense to focus your marketing efforts on them.
Sadly, most small business owners get to their best prospects randomly. They throw their message out into the world and just hope it hits the right people. It’s like trying to get a message to your uncle in Trenton by dropping 100,000 copies of your letter out of an airplane while you fly over New Jersey.
I refer to this as “blind archery.” Imagine launching 100 arrows while blindfolded. You might hit a target or two, but think of what else you might hit along the way!
Target Market: Arrows are one thing. A limited supply of dollars is another.
If you market wisely, you’ll hit your target, and you won’t waste your money.
So what are the best ways to target market for your small business? I’ve got three solid suggestions right here.
1. Geographic Targeting.
This method targets your prospects by geographical area. You might decide to target households or businesses in your town or county. You might target several towns and counties, or even the entire state, a tri-state area, or the entire country.
Once you’ve established your geo targeted marketing, you want to dominate it. You want to strive to become the most recognizable car mechanic, florist (or whatever you do) in your area.
2. Targeting By Demographics.
What is demographics? They’re the things a particular group of people has in common. Demographics can be very simple – like targeting women in a particular age group. Demographics can also be more complex. Maybe you’re targeting women between 30-40 who also have professional careers, read both Fast Company and Cosmopolitan, carry the American Express card, and buy clothing over the internet.
3. Demographics by Affinity or Association.
Do your customers belong to a certain club or religious organization? Are they members of the American Association of Retired People (AARP), the Kiwanis Club, or any other club?
Target Market For Your Small Business
If you can formulate a clear idea of who needs and wants your product or service most – who they are, where they go, what they do with their time, and other factors – that information will help you find those people. They’re the ones most likely to buy. They are the target market for your small business and they’re your best chance for success.