Last week, we talked about meeting a consumer's unmet need with your goods or service. You may have been left wondering - who is this "consumer" person, and how do I reach him or her? generally speaking, a consumer is someone who uses goods or services. What your firm is most concerned in is seeing its target consumer - that group of people who is both concerned in your goods or assistance and willing to purchase it.
Defining a target audience can be easier for an existing firm because it has the potential to analyze sales data and eye existing customers about their purchase habits, goods preferences, and demographic information. But what about those new businesses that have only a handful of customers or have yet to make a sale? While you may not have much customer data to go through, you can still define your target market. I will assume that you've already determined that your goods or assistance will meet someone's need. Now you need to additional define the characteristics of the people who would be best served by your firm and use them to originate a target consumer profile.
Consumer
For example, if you ran a daycare center that was open from 6pm to 6am, then parents working late shifts might be a good place to start your consumer profile. You'd want to understand the demographic data of this group - age, gender, revenue level, ethnic background, instruction level, hobbies and interests, household size, marital status and more. Some of this data can be found in local Census data or through a Google search, while other pieces may be gleaned from a poll of businesses colse to the center. Once you know these basic pieces of information, you can take your target consumer profile a bit further. In our daycare example, you may find a target who is a 25-45 year old singular mom manufacture ,000/year or less and working in a hospital or factory setting. If your study shows that there are adequate women who fit this profile within commuting length of the daycare, then you may rule to store your firm exclusively to local factories and hospitals as an incentive they could offer to potential employees who are open to working a later shift but don't because they lack childcare. Remember, this doesn't mean your firm will turn away customers who don't fit your consumer profile. It only means you are being more targeted in your marketing approach.
If you are still not convinced that targeting is important, think these three benefits:
1. Defining your target consumer is prominent because it helps to focus your business. Rather than trying to please everyone, you can target your marketing efforts to the one group that is most concerned in your business.
2. Concentrating on a target consumer can save your club money. Your R&D and Marketing budgets can go additional because you will only be in places where your target will be seeing rather than in any place you can find ad space. Remember, it is better to reach 500 people when 95% of them are very likely to buy your goods or assistance than 5000 when only 1% of them are to your business. Back to our daycare example. It would be better to advertise with a local temp group that specializes in placing employees with manufacturing jobs than to run an ad in the sports section of a newspaper (unless, of course, your study showed these women were sports fanatics who read newspapers regularly).:-)
3. It is easier to build genuine relationships with one or two target groups. Most people want to feel valued, even in business. By partnering with your customers and manufacture products or services that fill their unmet needs, you will originate a group of people who recognize with your brand. They will feel like your firm honestly cares about them. When people feel valued, they will likely tell someone else. When friends ask them for a late night daycare recommendation, for example, your firm will be top of mind. Getting loyal customers who spread the word about the greatness of your firm can be the best marketing dollars you spend.
Defining Your Target buyer Consumer
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