So why is target market important? Defining your target market allows you to focus your advertising, marketing efforts, sales and marketing copy on the people who are most likely to want your product or service. Knowing your ideal customer or the customer profile example, allows you to talk deliberately to them, through their values and ideals. By having a target market defined very specifically, you can filter out the people who would either be uninterested in your products or services or who would cause you the most difficulties.
A phrase that jumps to mind is ‘filtering out the tyre kickers!’. This is a phase that I heard on a online marketing course a while ago where adverts were set up on Google Adwords with a price included. Rather than hiding the price until the customer had clicked through the advert, putting the price on the advert was used to ‘filter out the tyre kickers‘. Anyone looking at the price and immediately having an issue with it didn’t click on the advert, therefore saving the cost of the click. Some businesses will avoid showing the price until the very last minute where the customer almost feels obliged to buy, having gone through all the sales ‘brochures’ and inquiries. However, although this tactic works in some situations, with an online business where you are paying to get someone to your website or sales page, you don’t want to pay for those customers who already have an issue with the price.
Targeting your specific market is also useful so you can can write appropriately to their interests and needs in your marketing copy. You can target specifically through demographics, knowing the interests, location, age range and values of your specific ideal customer. Without this knowledge you are effectively targeting everyone randomly through your marketing efforts and this can be a costly exercise. Not only that but your sales copy is not written for any particular ‘type’ of person and so can come across as overly desperate. This in turn can put people off who would otherwise be an ideal customer.
Large corporations always know their target market and they target those particular people with their marketing. Knowing your target audience gives you a huge advantage. Television commercials always use the knowledge of the target audience to target those people who would be most interested in their product/s. They target the values of their target audience through their commercials and they always know their target audience before setting up a huge advertising campaign.
Internet marketing and target market
Knowing your target market is particularly important when you have an internet based business. Your article marketing and paid for advertising should all be focused on finding your ideal customers. If you don’t know what your ideal customer is like, it is much harder to market directly to them. Filtering out those people who would definitely not be suitable for your business is just as important. If you spend all your time trying to convince people of your business you will come across as desperate. Find people who would benefit from your business and target them, don’t sell everybody. As the saying goes “if you try to sell everyone, you sell no-one”!
Hopefully you now know why target marketing is so important. To learn more about building an online business, target marketing, and leveraging your business to the next level, click here for a free video series.