Identifying Your Ideal Target Market and Marketing To Them
Business owners all over have ran into this dilemma at one point or another, "who is my ideal target market?" We want everyone to be our customer, Jack, Jill, Bryan, and Bob! The reality is though that only a piece of the market is actually your ideal target market. These "target" or "ideal" customers are those who are most likely to purchase your products or services.
I have provided some questions for you to ask yourself and some resourceful ideas below to determine who these are and how to reach them.
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First thing is first, you have to look at your best customer that you currently have and study their characteristics. You can do this by asking these questions.
1) What area do they live in? Can you select certain zip codes that you would like to target? The larger area that you choose will raise your number or potential buyers but will also become costly and sometimes more work for you.
Do you go see them? Are you internet based? So on and so forth.
* This will not only help you determine the number of potential customers but will also allow you to make things easier on you as a business person ie gas expenses, travel time, convenience etc.
2) Is your target customer male, female or both? Or is it the household income provider?
3) What is their age group? This is really important because regardless if they are male or female an 18 year old probably does not shop for anti- aging cream or, the 50 year old does not shop for the newest iron patches for their backpack. You get the idea!
4) How much is their income? This is very important for higher end products or professionals trying to find new customers such as; realtors, mortgage loan officers, financial advisors etc … Also, another thing to remember if you get stuck on finding a specific range, remember this; the 80/20 rule. Out of the whole 100% of your current customers only 20% are your best. What income bracket do they lie in?
Only market to your best customers not the rest.
5) Are they homeowners or renters? In addition, how long have they been at their current residence? What is their current mortgage rate?
6) Do they have children? If so, how many and again, what is their age group?
7) Are they highly likely investors?
8) Do you look for a specific characteristic for their lifestyle such as; shopping, fishing, gambling etc …?
9) What is their profession? This is a good question when marketing towards businesses and trying to reach a specific hierarchy in the company. When you know what person makes the decisions for your specific product or service you minimize your mailing / information to get lost in translation.
Once you have determined the answer to these questions you are now ready to market directly to them. You can do this by obtaining a mailing list and sending out direct mail to them consistently and repeatedly.
Here at Postcard Planet we have the professional staff that can assist you by finding your ideal target market.
The right mailing list can help you …
o Reach new contacts
o Target specific demographics
o Communicate with current customers
o Introduce new products and services
o Expand your business