How to Choose the Right Target Audience for Your Small Business
Until you have established your small business, you shouldn’t even think about marketing your products or services. Targeting your audience is a key component to the success of your marketing strategy. Some items seem pretty simple, but others may need a little more thought. The better you understand your customer base, the faster your business will grow and succeed. In order for small businesses to compete with larger competitors, you must target a specific area of the market. This does not mean that you are excluding others. It means that you are focusing more of your time, energy, and money on the assumption that the target audience will likely buy your product. It is not enough to focus on the person. Many factors, such as the price and availability of your products, are also important.
Recently, while talking to a person with a small business designing t-shirts, she shared that her first attempt at marketing did not do very well. She thought that teenagers would be her target audience. However, when her sales did not improve, she re-evaluated her strategy to realize that teens probably did not shop for t-shirts online as much as other groups due to finances and other variables. She then looked at other groups, such as sports enthusiasts and even those reliving their glory days. By switching her focus, she was able to reach different groups and the sales skyrocketed.
Do your research, develop a profile of your customer base, and don’t be afraid to seek advice. Here are a few questions to get you started.
- What age group are you focusing on? Are your products and services focused on young professionals or older executives? Yes, the groups will overlap, but look at the overall picture.
- Is gender a factor? Even though it may not be specifically aimed at one or the other.
- Are you looking for single or married couples? With children? Stay-at-home parents or working couples?
- Occupation, income level, education levels? Will your products be successful in this arena?
More Specific Demographics-
- Does your target audience have “time” for your items? Time is a singular commodity these days. Does your product/service offer something special?
- Does your audience have the finances to purchase your items and also be return customers?
- The very lifestyle of your audience will prove to be a determining factor. With this, look at attitudes, values, strengths, and weaknesses. A fast-paced crowd will usually be attracted to things that will make their life run smoother and not be bogged down with more “stuff”.
Finally, look at trends and forecasts. How will your product/ service fit into the grand scheme of things? Do you need help figuring out who your target audience is? Contact us today, we can help.
Profit Parrot Marketing and SEO Company
- Understanding the Objective of SEO: Driving Success in Digital Marketing - February 6, 2024
- The Entrepreneurial Mindset: Motivation for Aspiring Business Leaders - January 31, 2024
- Google Phases Out Business Profile Websites: What It Means for Your Business - January 12, 2024