Recently I had the 'good' fortune to be trapped with just such a person. He proceeded to tell me that targeting was a load of rubbish. His particular approach to marketing is as follows...
- My product is marketed at everybody
- I don't want to risk losing a sale by excluding someone
- If they're alive and have money in their pocket, they're in my target market
What's interesting to me about this person is how his comments about target marketing illustrate why his advertising efforts have failed.
His unwillingness to consider the purpose of a target market is the very thing that makes his advertising ineffective. The plain fact is, ad copy can't be powerful if it isn't written with its intended audience in mind.
The things you need to say to get a 50 year old excited about your product are different to those needed when talking to teens.
Knowing who your target market is makes life much easier. Here's a list of everything it can tell you...
- Where to advertise:
If your target market consists of single parents, you can use Google to find the sites they already visit
- How to write copy:
If your market is young urban teens in the UK, it's useful to write the way they speak
- What to offer:
Once you know where they hang out online, you can observe what they're interested in. This research will help you construct a powerful offer
- How to set the price:
Find out what they're already buying, and price accordingly
- Affiliate opportunities:
In your online travels you'll come across plenty of sites that market complimentary products. Touch base, and discuss joint-marketing opportunities. Twitter can help you find and build these types of relationship
- Social media:
Some target markets are very active in certain social media. This can help put you in touch with your market, and is an excellent way to observe your market and gain a deep understand of what motivates them
- Lead generation:
Lead generation only works when you have powerful copy and a compelling offer. Without a clearly defined target market, lead generation will fail (as will direct sales)