How to Target the Right Market For Your Business – Part Two

In Part One of this article I discussed why it is important to understand who your market is and why trying to market your product or service to everyone is a huge mistake to make.

Part Two will now go into more detail as to how you can do this quickly and easily, as well as identifying what you should and should not do in order to maximise your success.

When assessing who your ideal potential customers are, you may well already have a reasonable idea based upon the existing customers that you have. If you keep a database or list of your current customers, you should start thinking about grouping them logically based upon current factors – it may be based upon income or age perhaps? This is an ideal way to start and it will get you thinking in the right direction for the future.

Use What You Already Have

Once you have been through your list of current clients, you can then begin to think about future clients and how you can start targeting them. You will of course already have an insight into what your target audience is, based upon the customers that you already have. You simply have to go out there and find more of the same.

And once again, all it takes is a little work and effort on your part, but the results can be astonishingly successful when you do this correctly, so a little effort can go a long way. I cannot emphasise enough that the money and effort that you’ll be saving in the long run will more than outweigh the initial effort that you have to put in to this.

If one of the demographics you wanted to target was income, do you think you and your team could target the more wealthy areas in your town or city? Of course you could.

You Can Probably Start Doing This Today

All this requires in its most basic form is that you or someone from your team drives around in order to establish where the wealth could be, so big houses and luxury cars could be your first reference point. If you’re more than familiar with the town or city that you operate in, and the surrounding areas in the locality, you probably have a good idea already as to where you could begin targeting.

You can also do a lot worse that by using mailing lists too, as these can be very effective for identifying a target market. In the UK (where I am based), there are several decent companies who provide this service, and they allow you to drill down to your target audience based on certain criteria and parametres.

Once you have established some geographical areas (or whichever criteria you have chosen) to target, you need to find the appropriate means to contact them. You could use direct mail which can be very, very effective and bring a good ROI (Return On Investment) if implemented correctly.

Do Not Fall Into This Trap

Success also comes from not just trying once and then giving up because the uptake the first time around was not what you’d hoped. Certainly in the direct mail arena there are creative strategies that involve your prospect receiving four, five or more mailings and so the first mailing is merely the first piece of a larger puzzle.

At this point you may start looking at your business in a slightly different way. You might be assessing and evaluating what the benefits of your products or services are to your customers, rather than focusing on the features. This process will also enable you to eventually create an unstoppable USP, and together with your focus on your business’s benefits to its clients, you can now market your business with a message that has the correct and desired impact

You have also now found your ideal, target market by looking at your current clientele, as well as the aspirations of perhaps where your business would like to be in the future, or indeed where it should be, and this will have you streets ahead of your competition.

Comments are closed.