Before starting to market your company online, you will need to know exactly who your target demographic is going to be – in other words, who do you want to sell your products or services to? Here’s a clue, ‘everyone’ is not the right answer, unfortunately. Below are a few reasons why you need to understand who your target demographic is going to be before trying to sell your products or services.
Marketing Efforts will be more effective
Determining your target market will enable your marketing efforts to more successful in that you can focus your efforts and expenditure on people who are already interested in purchasing your products or services. This will make it far easier to create advertising campaigns and reach more people in your intended audience than if you had to adopt the hit and miss approach of trying to market to everyone. In short, you won’t be trying to sell to people who are not interested in what you have to offer.
Easier to Build Close Relationships
Regardless of which demographic they fall into, all customers want to feel valued. Partnering with customers and developing a range of services or products that meet their needs or answer their questions will enable you to create a unique group of people who can identify with your brand. If your customers feel appreciated, it is highly likely that they will spread the word about your business. Getting and keeping customers who are loyal to you by spreading the word about you is worth more than its weight in gold.
Save Time and Money on Advertising
Targeting a specific demographic of customer can save you a lot of time and money in that you will only need to advertise in places where you know that your target market will be looking. When advertising, it is better to reach a smaller demographic of people when more than 90% of them are likely to be converted into paying customers than it is to try and reach a group of 10,000 people where your return rate is likely to be 1% – or even less. This will save a substantial amount of time and money when creating advertising campaigns.
Easily Change with the Times
If you are focusing on your customers, your business will grow in leaps and bounds as time goes by. However, it will always be important to analyze your sales data and client information. There may be instances where your target market today may not be as interested in your product or service as it was a year or two ago, and at the same time, your data could reveal to you that some of your new customers are coming from places that you didn’t initially expect them to.
Once you have been able to define who your target market is going to be, you can set about providing them with the best level of customer service possible. This will enable your business to grow successfully, while also becoming a market leader in its industry or niche.
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