The Target Market Approach
The real mark of success in advertising is when you have effectively found your target market. Most people consider this challenging, because of the process in categorizing people, interests and trends.
In order to overcome this challenge, it is best to follow these steps. It may not cover all, but it can help one way or another.
1. Conduct a market research to find specific and quantified results about your target market.
By doing a market research, you will find out who your target market is, and you will know what they really need as consumers.
Now’s the time for you to look back and remember the research methods your English and Science teachers have taught you in school. Specific approaches give definite results, so doing studies will abolish all restrictions in executing plans. Frequently asked questions are usually answered through quantitative and/or qualitative studies. If you want to look for numbers and statistics, use a quantitative approach. If you want to find out about narrative accounts from your target market, use a qualitative method of research.
2. Answer the questions “who”, “what”, “where”, “when”.
Who is your target market?
What do you want to offer them?
Where do you want them to find you?
When can you deliver your products and services?
What is the time span of your offer?
3. Find out what keeps your niche awake at night.
This is where you focus on how to address certain problems and probabilities. Products and services vary, and in today’s time, most people would settle on a panacea for all their problems. People love availing 3-in-1 products, a gadget with many features and services which could solve all their technical problems.
Look out for the things that your niche wants and needs. Someday, you might even find out through a market research what they don’t need, but might need in the long run.
Again, research solves everything.
4. Find out trends and new ideas.
People are innately fast paced and innovative. If you learn how to incorporate new ideas with your products and services, you will never worry about changing your target market. Some advertisers conclude that failure in marketing needs to be worked out by changing their target market. But that’s just putting a band aid. Do not park possibilities; enhance them and end doubts.
5. Make this a never ending quest.
Always put yourself in the shoes of your target market. At the end of the day, contentment is the key. How do you generate contentment then? The answer is through the word content. You have to make sense.
Value your brand, value your target market.
Photo credits to Pix Shark.