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Marketing
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Even though you may say to yourself,
“Everyone is my customer”, many individuals are more likely to
buy your product or services than others. These individuals are your
target audience. You will spend less time and money, expend less
energy, and have more repeat business when dealing with these
individuals. You may want to identify how much of your business, by percentage, goes to these customers. You should consider allocating your marketing dollars accordingly, spending more money to attract this kind of customer. You stand to gain greater efficiencies in your marketing and advertising efforts by understanding this balance. You will also need to modify your offer, or copy language, to focus on this customer. Teenagers will not respond to the same offers or identify with the same language that attracts a retired person. Age is an easy distinction on which to focus. “Boomers” are no longer the target 18 to 34 year olds that the mass electronic TV media has sought for so long. Boomers are still the largest demographic group by age, but now they occupy a different place in our society. Their income level is at, or nearing, its peak. Many of the first boomers are contemplating retirement and have matured in their lifestyles and interests. Their children, on the other hand, are in the 18 to 34 year old bracket with new careers, young families, and are contemplating future growth. Retired individuals are concerned with fixed income, healthcare problems, and an extended longevity. Many seniors are comfortable with adequate pension programs and enjoy the luxury of travel and leisure time. Income level may be the next easiest distinction to evaluate. Do your customers seem to be in a $30,000 to $50,000, range with a modest lifestyle, but able to pursue their lives with relative ease? Do they buy cars that are in the mid size range and cost under $20,000, live in suburban 3 bedroom homes, and send their children to the public schools? Or, do you sell your products and services to individuals in the above $70,000 range? They probably drive SUVs, live in larger suburban, gated communities, and send their children to private schools. You may find other areas that are more important to your target evaluation than these generalities, and may transcend these groups just identified. You may view your customers as either athletic or non-athletic, computer literate or non-computer users, avid readers or non-readers, environmentalists or non-environmentalists. If these characteristics are important, they may transcend age and income, and your evaluation may be more difficult, but still necessary. Once you’ve evaluated this target audience, the job begins of effectively reaching them. Do they read trade magazines, and which ones? Do they read newspapers, and what sections first? Do they watch cable TV and which networks? Can you mail to a target neighborhood, or do you need to sort your mailing lists to exclude certain streets and zip codes to expand to your maximum reach? It all starts with knowing your target audience. For more information return to GregSchaale.com Home Page
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