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In order to build a solid foundation for your business, you must first define your typical customer. Taking into account the present state of the economy, having a well-defined niche is more essential than ever. Many companies claim that they target “anyone who is interested in their services”; from entrepreneurs to stay-at-home moms. However, all of these targets are far too general.
Targeting a specific market has nothing to do with excluding people who do not fit your criteria. It simply allows you to focus your marketing funds and brand message on a well-defined target group that is more likely to purchase your goods. This is a highly affordable, cost-efficient, and profitable way to reach potential clients and boost sales.
Analyze your current customer base and look for characteristics which your buyers have in common. Figure out not only the demographics, such as income level, education, marital status and occupation, but also psychographics, which refer to the more personal characteristics, like lifestyle, personality and outlook.
Defining your target market is not a piece of cake. However, once you know who you are targeting, it is much easier to work out which media you can use to reach them and what marketing messages will resonate with them. Finally, instead of sending mailshots to everyone in your ZIP code, it is more effective to contact only those who fit your criteria.
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The general idea of targeting is: