Not everyone is a prospect for your business. We often hear businesses say that they want to go after anyone who may be interested in their products or services. Mistake! Every business has people that are most likely to buy their products and services. Those groups of people are your target market.
Think of it like a family doctor versus a specialist…
Which one makes more money?
The specialist of course, but why? The answer lies in the fact that the specialist is just that…a specialist. The family practitioner can handle a lot of general conditions and the specialist can only handle some specific thing. The specialist, on average, makes 3-5 times more money per year than the family doctor however.
If you don’t have a target market yet, click here to see the 6 Steps to Defining Your Target Market.
If you already know who your target market is, the question to ask is “Are they seeing me?” That is one of the most important factors in marketing. A well-defined market can make the entire process of marketing easier and much more profitable.
Ask yourself some questions to help with the targeting, like:
- Location – Where do they live?
- Age – Try for no more than a 20 year span
- Gender – Male or female?
- Influencers – Who do they follow?
- Relationship status – Single/Married/Widowed/Divorced
- Education level – High school, college, etc.
- Job – What do they do?
- Industry – What area do they work in?
- Income – Range
- Children – Parents or not?
This, of course, isn’t an all-inclusive list, but you get the point. What is special about the people that buy from you most often?
Once you know your target, now it's a matter of finding them
Social media today is the community that your company has to build in order to help people keep up to date with you. Social media marketing can take several forms. From strategic posting on the right networks to where to put ads for maximum effectiveness, choosing the right networks and strategies is crucial to success.