Taking Aim: How to Identify Your Target Audience

What's your mark?

Your business – and every business – has a singular driving goal: capturing more customers and, ultimately, owning your market. Today, owning your market doesn’t require you to spend more on marketing and promoting your business than your competitors. However, it does require you to have a more efficient marketing and promotion engine in place that yields maximum return for every dollar and every hour you invest. The process of building this engine doesn’t begin with tactics; rather, it begins with identifying your target. No business – yours included – can afford to market to everyone. Of course, it’s tempting to try to reach as broad an audience as possible in the hopes that no potential customer will slip through your fingers. However, in actuality, this approach will cost you much more money and deliver far less satisfactory results because you’ll have greatly diluted your chances of reaching those whose needs you truly serve. It’s important to understand that your target audience does not encompass anyone who might possibly ever buy your products or services. Rather, your target audience is comprised of those who are most likely to buy and, therefore, become the primary focus of your marketing efforts. Identifying the right niche provides the foundation for success in all aspects of marketing and promoting your business:

• It allows you to focus your efforts on those tactics and mediums that are most effective in reaching this particular group.
• It allows you to tailor your sales message to focus on the needs and concerns that are of greatest relevancy and urgency.
• Most importantly in today’s marketplace, it allows you to build a strong community around your brand comprised of people who love what you do and happily serve as your fans and evangelists.
• And in real dollars and cents, it’s the difference between sending thousands and hundreds of thousands of postcards to achieve the same end result.

Here are the steps you should take to ensure that you’re targeting the right audience:

Segment your customer base.

Who are your customers? Of course, there are many different ways to answer this question. Often it’s easiest to begin by examining your sales data and segmenting your customers into groups based on demographic factors, including age, gender, income level, education level, marital and family status, industry and geographic location. In working though this process, you’ll likely find that a particular group or groups emerge as those who buy from you most often. This simple step can also help you identify how best to market the same product or service to different groups. Some market segments may be better reached at trade shows while others can be reached at home with a direct mail campaign.

Dig deeper.

Breaking your customer base down into groups based on basic common characteristics like gender and income is only step one. To reach and engage with these groups effectively, you’ll need to develop a deeper understanding of both their lifestyle and their motivations. Start with one of your products or services and evaluate it through the eyes of the customers that exist within each group you’ve identified. Make a list that includes every possible reason this type of customer might want this particular product or service. Maybe they are trying to solve a problem, maybe they just want to feel good about themselves or to satisfy a basic need. Going through this process will help you drill down to the specific benefits and outcomes that should be the core focus of all your future communication with this group. Secondly, think about the routines of their day-to-day lives and how this communication will be best received. Do they frequently read the paper? Do they spend a lot of time in the car listening to the radio? When searching for news and entertainment, do they turn on the television or pick up their iPad? Are they likely to be active on social media platforms and, if so, which ones? This type of analysis is essential to ensuring that you choose the right vehicles and mediums to capture their attention.

Keep digging.

At this point, you’ve established a solid foundation of knowledge about your target audience. But if you dig a little deeper, you might uncover additional information that will allow you to sharpen your approach even more. Now that you’ve segmented your market and gained an understanding of what drives your customers, see if you can identify which group or groups offer the most marketing bang for your buck. For example, of all those who are most likely to buy your products or services, which groups represent the most profitable? In the B2B world, these are usually the clients with the greatest longevity or those who utilize services with the greatest profit margin. Also, who are the customers or clients that send you the most referrals? These are your very best customers because they do the work of selling for you, so make sure you are not only reaching your existing customers who fall into this category but also others like them because they represent a group whose needs you are particularly good at serving. Finally, it would be a mistake not to examine who your competitors are targeting. This is not so that you can just copy their strategy and run with it. To the contrary, what you’re really looking for is any gaps in the market that they might be overlooking so you can swoop in and grab these underserved segments.

Put your target to the test.

Now that you’ve identified your audience, it’s time for the rubber of your marketing plan to hit the road of execution, right? Not so fast. You need to put your construct of your target audience to the test to ensure that it’s one that can sustain and grow your business. This process is often called a SWOTT (strengths, weaknesses, opportunity, threats and trends) analysis. Ask yourself the following questions:

• Are there enough people within the audience you’ve identified to support your business?
• Can they afford your product?
• Will they see a legitimate need for it?
• Where do your prices fall in regard to their expectations? Too low? Too high?
• Are there opportunities to upsell other related products or services to this group?
• How much competition already exists in the marketplace for this group?
• Are there any trends you can identify of which you should be taking advantage?

While the process of identifying your target audience may seem complex, these steps hold the keys to competing effectively in today’s marketplace. When you clearly understand who buys from you and why, only then can you find the channels they frequent and become one with your tribe. And wouldn’t you rather own your target market than merely shoot arrows into the dark, hoping one will land?

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Cashing In: 5 Ways to Optimize Your Website's Conversion Rate

Got a website? Check. Strong traffic numbers? Check. Think you’ve got this online marketing thing licked? Think again. It doesn’t matter how many people are coming to your site if they aren’t taking action once they get there. If you want to make those traffic numbers count, you must find a way to convert visitors into customers. Some people would have you believe that all it takes is a nice website and a great product, and you’ll have customers beating down your doors. By this mode of thinking, if your sales are lackluster, it’s most likely an indication that something is wrong with your products, so you work day and night tweaking and tinkering your offering to give the people what you think they want. In reality, it’s more likely that you’ve overlooked some key elements in the design of your website, and now it’s costing you. If your website is performing well in traffic numbers but lacking in sales, it’s time to re-evaluate your site. Here are five key elements to examine and improve to ensure that you’re maximizing your opportunities to capture customers online:

1. Tell them where to go and what to do.

It’s a fact as simple as it is true: when you have a product or service to sell, you want to make sure people know exactly how to buy that product or service. There’s no point in saying you offer consulting services unless you provide a straightforward path to contact and hire you. There’s no point in displaying a product when there’s no immediately visible way to purchase it. Make sure you present a call to action that is obvious and direct. Look at your website through the eyes of the most technologically challenged user – one who has no clue how to navigate through a website or purchase something online. At every step of the way, do you provide the easiest and most direct route from Point A to Point B so that they can progress intuitively through your site? If you have a picture of a product, is there a call to action next to it? Remember, too, that a call to action is not a wordy description that says “Hey, this item is on sale like many others, so look at them all blah blah blah.” It’s a concise statement of action – usually in the form of a button or link – that prompts the user to take the next step. Maybe you want them to “buy now” or maybe you want them to “learn more.” Whatever the next logical step might be, it must be clearly stated. Attention spans on the Web are short; if your site is lacking calls to action, chances are good that you’re losing many conversions to the ever-present element of distraction.

2. Put the kibosh on clutter.

The universal rule of the Web is that less is more. Clutter comes in many forms – too many pictures, too much copy, too many buttons and links. Whatever is clogging up your site, get rid of it immediately. In order to determine what should stay and what should go, you must identify the primary goal of your website and make sure everything is geared toward that one singular objective. If your site exists to sell your products, then sell on every page. Even on your “About” page, your customer cares less about where you went to school and more about how your products came to be. You need a clear message – one that’s easy to understand and easy to share. Don’t stuff every last thing you do down someone’s throat and expect them to make a decision. Give them choices, but don’t make them think too much. You’ll only confuse your visitors, and a confused visitor is not going to stick around and figure it out; they’ll just go elsewhere instead.

3. Focus on feelings, not features.

It’s always difficult to fight the temptation to cover every single aspect and feature of your product or service in painstaking detail in order to make sure that visitors have all the information they could possibly need to make a decision. Sometimes this works, but more often than not, it doesn’t. Why? Because people don’t really spend their money on the products that have the most bells and whistles; they spend their money on what makes them feel good on the inside. They buy things they believe will make them a better person or make their lives easier or solve a problem they face every day. People don’t purchase iPods because they like the device itself; they purchase iPods because doing so makes them feel like part of a greater tribe of iPod (and, by extension, Apple) enthusiasts. Features are really only a secondary consideration. In trying to convert potential customers, your most important job is to convey how you can fulfill their deeper needs. Figure out how your products or services connect with people on an emotional level, bottle up that feeling and build your website around it.

4. Don’t ask for too much.

Don’t you hate when you walk into a clothing store and an associate follows you around constantly pestering you with questions? Doesn’t it irk you when you’re ready to check out and they ask you to sign up for their store credit card and their rewards card and to give them your email address so they can put you on their mailing list? Don’t make the same mistakes online. It’s critically important to provide a user experience that makes your visitors feel at ease. Avoid using pop-ups and other disruptive elements that create hassles during the shopping process. And when it’s time to check out, just let them check out. Don’t require them to create an account, don’t make them answer a laundry list of questions about their purchase and don’t make them give you a bunch of personal information. In short, don’t make your customers jump through hoops to spend money with you. If you try to get more information out of your customers than you actually need to process their order, you’ll raise red flags of mistrust. They’ll immediately recognize your game, and they’ll likely jump ship mid-transaction in order to avoid being bombarded with future marketing. In reality, all you need to be able to continue your relationship with that customer is an email address and permission to send them updates from time to time.

5. Be creative within reason.

Of course you want your website to be memorable. You want visitors to be wowed by its design. You want a unique look and feel that sets your company apart from your competitors. All of these are valid goals as long as you keep the level of creativity within reason. Don’t try to reinvent the wheel in an attempt to be remembered for originality and innovation. If your site deviates too far from familiar conventions, you’ll end up alienating a lot of potential customers because they’ll have no idea how to get around and find what they need. Be creative, but don’t overdo it. After all, less is more.

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