How to Pinpoint your Target Market

Hone In and Win

You strike oil by drilling a single hole a mile deep. You do not find oil while digging 100 holes, each one 100 feet deep. Marketing is the same way. Too many business take a scattershot approach to marketing, spreading themselves thin across a wide array of channels. These business hope to get lucky and strike oil, but that’s rarely possible when you aren’t drilling down far enough. Casting a wide net doesn’t work if the net is full of holes. The minimal effort a business is able to put into each one of their huge set of campaigns may be as good as useless if those campaigns aren’t properly focused.

A more effective approach is to determine who and where your target audience is, create a specific strategy to market to that audience, and go all in.

As Entrepreneur Magazine puts it, back in the day, many business owners thought it fine to market to “18- to 49-year olds,” but “those days are a thing of the past.” The marketplace is so saturated and differentiated, it’s become impossible to talk about it in a general way.

Now, every single business on the planet has a specific target market, even if they claim otherwise, or they’re oblivious and trying to target everyone. The trick to successful marketing is to be intimately familiar with your demographic — their hopes, fears, desires, incomes, careers, and hobbies — because everything is relevant when it comes to getting someone to buy your product or service. If you’re able to find your target market, you’ll be able to determine where your marketing efforts will have the greatest impact.

Who Is Your Ideal Customer?

Look at your current clientele. What do they all have in common? Identify patterns, areas where your customers live, as well as platforms they often use. Find what experiences they have in common — there’s a difference between baby boomers growing up in the 50s versus the 60s. The better you know your own customers, the better you can serve, market to, and reach them.

The same applies to your own product or service. Look at what you offer. What are the specific benefits of what you’re selling? What sets it apart from similar items? How would a person use your product or service, and how would it improve their life? This will enable you to make a list of the types of customers who have a need or use for those benefits. This tactic will give you an even clearer picture of who your demographic really is.

If you fire ten bullets in random directions, instead of aiming just one at the bullseye, you’re wasting your time and resources. If you have any questions about how to magnify the impact of your marketing, how to focus in and strike oil, just ask us! We love to help businesses streamline and amplify their marketing tactics.

– Phil Fisk