Target Marketing
Take Carefull Aim Because a Bullseye Here
Will Really Pay Off
More Than Ever, Your Accuracy is Paramount.
More than ever, target marketing should be an essential ingredient in your
marketing mix.
To ensure your success you need to explore your niche and identify & classify your ideal customers to discover who’s buying your products & services so that you can ‘squeeze the most out of it’ and maximise the return on your investment.The
advantages of niche marketing
are well known. Here’s 5 simple steps to help you achieve this.
Identify Issues & Problem.
Through some covert
marketing intelligence
work, find out what keeps your customers awake at night.Try to uncover the problems they're experiencing. If you can do this, you can focus your efforts and work towards rectifying the problems and not waste time, money & effort on aspects of your business that basically will have no effect on sales. If you don’t know what’s wrong, how can you fix it?
Do You Know Your Market?
You need to know who your market is and, depending on what type of business you have, their needs will be many and varied.You need to such information as – • Age
• Sex
• Employment
• Salaries
• Marital status
• Hobbies
• Do they own cars
• Etc
• Etc As you can see, this list is endless so it’s important that you know your market so you know how to sell to it, what to sell to it and how much to sell it for.
Groups Within Groups.
Within most target groups there will be sub-groups. Some may have as little as one sub-group whilst others will have several. It’s important that you identify these sub-groups so your target marketing efforts are hitting all of these groups.
Familiar Product?
Do you have a new product?Is your target group aware of your product? Knowing the answers to these questions will greatly assist you to organize your marketing efforts towards the right group. With the introduction of a new product you’ll need to tell your target market how it’s going to help them. • Is it going to make their life easier or more comfortable?
• Is it going to make more money for them?
• Is it going to keep them warmer?
• Is it going to provide them with a better lifestyle?
• Is it going to make their car use less petrol? These are the benefits you need to get across.
Organizational Strength.
If your target market is generally organizational based, finding out if the individual members of the group are impacted or interested in the buying practices of the group as a whole is worthwhile.Armed with this knowledge, you can determine the best marketing strategies for that group. By knowing who you’re marketing to you can reduce your marketing costs and make the most from your efforts. Take the extra time and make the extra effort to really find out who your target market is. Trying to sell something to someone who has a need for what you’re selling is far easier and way more successful than trying to sell something to everyone. Communicate with your target market so they know you care and... you can learn what makes them tick. This what the successful people do.
Modern Net-Wit:
"Television is to news what bumper stickers are to philosophy" ............................................................................Richard Nixon
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Advantages of Niche Marketing
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