Identifying Your Target Market
Everybody talks about target markets and taking aim, but not everybody does it.
Target marketing is the only effective way to optimize marketing resources.
Use these four category areas as you collect information to identify and define your target market:
- Geographics — The location, size of the area, density, and climate zone of your customers.
- Demographics — The age, gender, income, family composition and size, occupation, and education of your customers.
- Psychographics — The general personality, behavior, lifestyle, rate of use, repetition of need, benefits sought and loyalty characteristics of your customers.
- Behaviors — The needs they seek to fulfill, the level of knowledge, information sources, attitude, use or response to a product of your customers.
Focus on benefits. Pay close attention to the needs section of the market behaviors. How will your customer profit or gain from using your products or services? Meeting this need is one of the most convincing points for sales to be made, cash to flow, and profits to result.