Defining your target market could help you discover your business in an entire new way. It is important to know who you are selling your product, or your business to. Who will even be interested in finding out more. If you base your marketing towards your target market then you will be more successful with your advertising.

 

In “Six steps to defining your target market”, Leboff says, “Today we live in the world of niche. For example, we are no longer prisoners of television schedules. We can watch what we want at our convenience from almost anywhere in the world; meaning every person can enjoy a unique viewing experience.” This is an important point because it means that our target market can be extremely specific.

 

You can find your target market by demographics. Such as gender, age, income level, marital status, education, race, religion.

 

Make sure you understand your current customer base. Who are your current customers, and why do they buy from you? Look for common characteristics and interests between them. Which ones bring in the most business? It is very likely that other people like them could also benefit from your product/service.

 

Know your competitors. Who are your competitors targeting? Who are their current customers? Don’t go after the same market. You may find need to find a niche market that they are overlooking.

 

Ask your friends and family. Do they have a need for this product? Can they think of anyone who would enjoy your product?

 

Knowing who would best receive your product means you will end with more profit. Marketing to a certain target will mean you have potential to maximize your profits.  Your end goal is to make it easy for your target demographic groups to see connections between their needs and your product.

 

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