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Profiling your target market

confidence30842627.jpgA successful marketing campaign means a successful business. But if you want your marketing campaign to work for you, you will first need to get a little information from your target market. This is also called profiling.

Profiling your target market is important because it means you can better target your marketing efforts. When profiling your target market, you will be asking two key questions:

  • Who is your target market?

  • What do they want?

By answering these two questions, you can best serve your customers and get more business for your company.

The following tips will help you to profile your target market:

Know who your target market is
.
The first step is identifying your target market, or ideal customers. By doing this, you can focus your marketing efforts. For example, if you have a catering business, you will need to define who you want to focus your services to. Do you specialize in weddings? Corporate meetings? Birthday parties? If you specialize in corporate parties and meetings, you can then focus your profiling efforts on business owners or executives. Or, if you have a personal training business, you will need to decide if your business will be focused towards athletes in training, weight loss, or getting back in shape after an injury, for example.

Your target market could also be by location. Let's say you want to market your catering business to other businesses. You can narrow that down to a specific neighborhood or business part. Or, your target market might be gender. If you have a day care, your target market will obviously be working moms.

Know what they want.
Once you have identified your target market, you will then need to figure out what it is they want. Getting to know your customers, how they learned about your services, and how they would like to be contacted are all important points to consider.

There are many ways you can do this. You can contact a sampling of your customers that you think is representative in a number of ways. You can create questionnaires, mail postcards, and have customers fill out comment cards, and then act on their answers.

Talk to the customers you spend the most time with. Ask them what they like about your services and products. Use them as your representative sample. Adjust your marketing materials so that you are targeting the things that your customers want.

Because you naturally have competitors, it's a also good idea to try and talk to your competitors' customers. Find out what they want that they are not getting, and offer it to them.

You should also learn more about your customers' habits and hobbies. This will help you to narrow down the best sales channels so you know where to advertise your services. You should also know as much about their financial situations as possible; this will help you to charge prices you know they will pay.

Timing
Profiling your target market is also about timing. You need to be able to provide them with what they want precisely when they want. For example, if your business sells air conditioning units, don't advertise in the middle of winter-time it so you are offering something they will need soon, not 9 months down the road.

Profiling your target market is an important part of marketing your small business.

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Categories: Customers, Market Research, Promotions,

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Posted by DF
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