Do you know who buys your products/services? Are you effectively reaching your target customers? If not, you should be. Defining your target customers is a necessity for any business and not knowing can be costly. Since your target customers are the ones most likely to buy your product/service, it’s important to understand not only them as a customer but also what it is about your product they like. Once you have analyzed not only your current customers but your product/service as well you can start to find other potential customers who also have a need for your product/service.
When defining your target customer, it is important to know the specific details including demographics, lifestyles, hobbies, and locations. It’s also okay to see who your competition is targeting. They could be overlooking a niche market that you can capitalize on. Remember, it is possible to have more than one niche market as long as your target customers are well defined and not something general such as college students. An example of a good target customer description would be the following for a new local gym: women, ages 30-45, 2+ kids, stay-at-home mom, enjoys running/working out, Hillsborough county, household income of $60k+, with 1+ vehicles. The gym could also choose to target men, ages 18-30, student, general interest in sports/lifting, Hillsborough county, with a household income of $60k+.
After you have defined your target customers comes the easy part; determining how to reach them. Different targets use different marketing channels to get information and knowing which marketing channel to use can increase your chances of drawing in more target customers. By defining your target market and your method of reaching them you can actually cut your advertising costs drastically. You no longer have to use the “hit or miss” method of reaching out to potential customers and can focus your efforts on not only keeping your current customers but also finding more just like them.
Have questions on who you should target? If there is a large enough market for your product/service? How you can reach your target clients? Contact Lab3 Marketing! We have the ability to create specialized customer lists with your target customers’ specific criteria. We can help you define your target market and get your brand out to them.
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