Having a robust hosting plan and hiring the best designers for your website is only one essential ingredient in a strong small business marketing strategy. Among all the key components of your marketing strategy is the target market analysis.
Your target market is the audience that needs or wants your product or service. Being able to identify your target market and what motivates them is what will ultimately make or break your marketing strategy. Ask these 5 questions about your target market to create a more intentional and well put together marketing strategy.
Who Are They?
Try to paint a picture of who’s purchasing your product. This is straightforward enough with the right analytics software and system in place. Are they millennials or seniors? Students or working professionals? Try to narrow it down as much as possible.
Where Are They?
Do you cater a product specific to those in rural communities, or are most of your customers residing in major metropolitan areas? It will be difficult to target your product to those in specific communities if you don’t know where they are.
How Do They Interact with You?
Different demographics of people tend to interact with companies in different ways. Find out if your target audience is using mobile devices or desktop computers. You can find out as well if they’re interacting on social media, email, or some other avenue.
What Challenges Do They Face?
If you don’t seem to be having success reaching your customers, there may be some obstacle that they need you to provide to make access to your product or service easier. People in rural areas may need to be able to order products and services online or a transportation solution to get to your brick and mortar store.
What Motivates Their Buying Behavior?
Identify why your customers would by your product or service and then turn that into marketing opportunities. Find out whether your product markets to your audience’s wants or needs and pose your product or service as a solution to any issue they’re commonly facing. Finding out what generally motivates them is key to reaching your audience.
How Much Do They Typically Pay?
Running a full target market analysis for your products and services is a vital piece of the puzzle before running any marketing campaign or determining the best strategy for your small business. Once you’ve answered key questions about your target audience, you’re ready to share this information with your webhosting and development team and other key players for the best possible small business marketing strategy.