Marketing is an essential component of any business entity. However, it isn’t like hitting the air. It takes time and planning to bring about positive results for any business. Before one ventures on an advertising campaign in print, on TV, or on the internet, it is important that he lays down the details of his plan. Otherwise, all haphazard marketing plans will likely fall through.
What are some factors to consider in determining your target market? There are quite a number and here are a few.
What are the demographics of your target market?
Before shelling out hefty cash amounts on ads, identify the demographics of your target clientele. Demographics refers to measurable statistics of the market and its subsets. It includes data such as gender, age, race and ethnicity, languages spoken, etc. To which specific section of the population would you like to offer your products and services? Surely, you do not want to create ads that blindly aim at the general public. Such is a senseless waste of precious time and resources.
For example if you are selling lingerie you want to exclude people from other demographics like unmarried males and very young girls. If you are marketing vacation trips to exotic Asian destinations, you might want to exclude people with marginal incomes and people with less mobility.
Fortunately, there are a lot of tools out there that can help you trim down your audience to your ideal market. An example is Adwords on Google which allows you to leverage the return of your investment by allowing business proprietors like you to flexibly adjust their ad settings – how it will appear and to whom it will appear.
What is the location of your market?
Proximity or distance is a vital factor in advertising. Where would you like to sell your product? Will you zero in on a local market or will you try to reach a more global one?
With Google Adwords this is quite easy. You can readily set-up a market to a desired radius from your business establishment. You can even add information like your business address and other pertinent contact details that make you more accessible to your clients. Google has also come up with a tool called Google Map which can help your clients pinpoint your exact location.
What is your market’s psychographics?
Psychographics refers to the opinions, interests, attitudes, and lifestyles that heavily impact or influence the purchasing behaviour of your market. For example, the athletic type people who enjoy regularly going to the gym or joining fun runs or other sports events will most like be interested in buying sports gear or health supplements. People who like to attend social gatherings will most likely be interested in buying sophisticated make-up brands and accessories.
These are just three but there are certainly more aspects to consider before setting up an ad campaign. Bottom-line is, it is essential to have concrete and well thought-out plans before spending resources on a business move like advertising. If tactfully done, advertising can reap astounding rewards.