Before undertaking any marketing campaign, you must first be clear on WHO Your Target Market is. Moreover, able to determine your ideal customer. Also, understanding your target market is the core premise of any successful small business implementing a strategic approach to their sales and marketing such as the Lifecycle Marketing framework.
Lifecycle Marketing is explained in detail in this post: ‘What is Lifecycle Marketing AND how can I make it work for me?‘
Therefore, here are a few questions to ask, that will help you identify your target market. Also, what you need to be clear on BEFORE, you undertake any marketing campaign.
WHO: Identify your target market
Either, do this exercise from scratch, better still, if you have them, use existing A grade customers to find out this information. Also, remember the 80/20 rule – look for the rule rather than the exceptions Furthermore, you may have several distinct target markets. In that case, you can do this exercise for each one.
WHO: is the user of your product or service?
WHO is the decision maker who says yes or no to the purchase of your product or service?
What is their GENDER i.e. what % of buyers are male, what % are female?
What is their INCOME?
What is their OCCUPATION?
What are their OTHER INTERESTS?
What is their GEOGRAPHICAL LOCATION i.e. where do they live/work?
What TIME OF THE YEAR do they think about buying your product or service?
What LENGTH OF TIME do they take from initial inquiry to confirm their purchase?
WHAT is it that they want to buy?
Remember, people buy to solve problems, i.e., they do not want to buy drills. They want holes in the wall. So, the problem is: they have no holes – the solution is; purchase and use a drill.
What NEEDS do they want to fill?
What PROBLEMS & FRUSTRATIONS do they have?
What are the 3 KEY AIMS do they have when using your product or service?
What do they WORRY About when using your product or service?
What is the motivation to buy, are you ADDING PLEASURE or REMOVING PAIN?
Why buy it from your business rather than the competition
What are the unique aspects of your business that add value to their purchase?
WHERE: do they gather together in the greatest numbers?
What other businesses or organisations already deal with your target market?
How can you obtain/build a list?
HOW: do they like to be communicated with?
What do they read?
To what do they listen?
To what forms of communication are they open?
You May Also Like: