Money For Lunch – Important Tips for Defining Your Market

Important Tips for Defining Your Market

May 24, 2018 8:30 AM0 commentsViews: 7

Click here to get this post in PDF

Before you start doing any advertising, you need to first get to know who your target audience is. No matter how lovely your TV commercials are or how interested the graphics in your posters are, you won’t attract a lot of people if you are not properly reaching out to them.

The first step is to identify your market and find out exactly what they want. You can create plans once you get to know them. Here are some tips for you to consider.

Check your current customers

Take a look at the people currently patronising what you have to offer. Break them down by age groups, gender or even ethnicity. You will then know which group patronises your business the most. Similar groups could also find your business appealing, so you should include them on that basis. If you are reaching out to an international market, you might target the same demographics as well.

Spy on your competition

Of course, you don’t technically spy on them like an agent. Instead, you have to take a look at the type of people choosing them over you. It is also important to admit that at some point, you can never win those people back. You have to focus on the niche group that is not necessarily interested in them as they could possibly be a part of your market.

List the benefits of choosing your product

You need to list all the benefits people get when they choose your products. From there, you can decide how to craft your brand and target audiences. For instance, if your products are geared towards a healthy lifestyle, your market might include older people, vegetarians and those who choose an active life. If the main benefit is that people will save money, your target audience will be those who belong to the lower bracket of the economic ladder. Richer people are not necessarily concerned with how they can save money when buying things. Take a look at the current group that you have and decide if you are really interested in targeting that group.

Create quality ads

When you have decided who your market is, you need to come up with ads that are suitable for them. For instance, if you want to target local audiences that are older, you can use a pull up banner. This print ad is more appealing to them. It can also be distributed locally. The message should be clear to them the moment they read the banner. They should also feel enticed to buy what you have to offer.

After creating the ads and putting them out, evaluate them and see if they work in attracting your target audience. Modifications can be made depending on how people respond.

 

Image: Pixabay.com

Tags:

Leave a Reply

You must be logged in to post a comment.