Defining Your Target Audience
Successful small business marketing requires a bulls-eye!
If you know who your audience is and how to reach them, you might be in the minority
Businesses of all sizes struggle with the effective marketing of their brand, especially across channels. Small business in particular deals with a sea of competitors, a product savvy population and of course a limited budget. Restricted marketing dollars do not allow for the unreliable “shotgun” approach to promotion. Instead a highly targeted method of advertising and outreach is the only way to see a return on investment.
How then do small business owners identify their target audience? Through a little research and fact collecting. Following are some areas for consideration when zeroing in on your “bulls-eye.”
Take a look at your current customers: Who already buys from you?
Understanding your existing customer base is essential to identifying the “customer type” you are trying to attract.
Customer’s impression of YOU!
- Why do they buy from you?
- How do they see your space? Neat & clean, organized and easy to navigate, etc.?
- What complaints might they have of your company?
- What improvements or additions would they like to see?
- Remember to always EXCEED your customer’s expectations!
The best way to track your customer’s feedback is by making use of a customer relationship management tool. This type of database allows you maintain important information as well as specific interactions with your clients or customers. It also allows you to track habits and trends over time and better recognize changes to behavior and buying patterns.
Review demographic information:
- average age
- geographic location
- income level
- home ownership
- employment status
- marital status
Demographic information can be collected through interactions with your current customer at time of service or sale, as well through surveys or polls, and by using the census bureau’s online database.
Capture key information:
What are your customer’s interests?
- Pay attention to items purchased
- What is perused but not selected?
- Have they made any special requests?
- What have you learned through conversation?
Have you identified any of their habits?
- What publications do they read?
- How do they hear about your promotions?
- What time of day do they shop or visit
What preferences has each consumer displayed?
- What form of payment do they use?
- How do they stay in touch with you?
- Do they use coupons or special promotion codes?
All of this information will assist in narrowing down the customer profile. You may not have access to all of this information, however, the better you understand your current customer, the easier it is to attract others like them. Again, don’t be afraid to survey your existing customer to gain some further insight to these areas.
Coming soon…Part 2 – Know Your Competition