Modern day business is more competitive than ever. Because of this, firms can advertise all around the world for any industry. If you’re going to stand out and compete with the major brands in your space, you have to work smarter, not harder. You can’t outspend a Fortune 500 company, so instead you need to take a closer look at your target audience and then focus your attention on them. Here’s why:
As SEO marketing agency Big Leap puts it, when you identify your target audience it allows you to create “experiences and websites that drive conversion.” This is because you know the deepest needs and fears of your audience. When you know what they want, you can give it to them.
Imagine you are trying to cook for a large crowd. You try to guess what they want, so you grill up a bunch of hamburgers. But after trying to serve it to them and asking for $5 each, you find out that the audience consists totally of vegetarians! This is the same thing you’re doing when you try to guess what your audience wants in any capacity of your business. With the tools available today, it’s easy to find out what your audience wants, so don’t waste time and energy on your ego-based guesses.
Getting the Market View
How do you meet your market’s desires then? There are several ways. Each one has advantages and disadvantages.
Create a survey. There are many services that allow you to plug in emails and send people surveys about what they’re looking for. You can trim the responses to determine who is more likely to buy your products.
Money matters. Are your ideal clients making six figures or are they struggling and in debt? Knowing their income needs and realities will help you speak to your target demographic more compellingly.
Don’t forget geography. There’s a difference to a market in NYC and LA. And there’s even more so between those cities and Hong Kong. Know your locations and go from there.
When it comes to marketing, the biggest mistake you can make is not identifying your audience. Your audience tells you everything you need to know about what products to create and how to brand them. If you start here, with the end in mind, your development won’t just be cheaper — it will be more profitable and more speedy. So don’t throw away time, energy and dollars. Put the marketing tactics above into use so you can identify your target audience and hit the ground running with your next project.
We offer business and marketing consulting to increase revenues, develop a high performance team, and avoid costly mistakes. Book a complimentary 15-minute strategy session with Shannon today!