A common and costly mistake is to focus on everyone being a potential buyer when planning a marketing campaign. This can lead to spending time and money on advertising and promotion that does not yield the most profitable results.
When creating a plan I always ask clients to tell me who “the lowest hanging fruit” is (easiest to close) for their product or service. From that we put together a detailed customer profile which makes it easier to determine the most efficient and cost effective way to reach them.
Here are three ways to better understand your customer.
- Consumer demographics. Some examples are age, gender, geographic location, household income, children, and if they are married.
- Business demographics. Some examples are job title, what company do they work for, their product or service.
- Psychographics (values, attitudes). An example could be what is their need for status and the role of money in their life?
Target marketing will increase your ROI (Return On Investment) because you understand where to advertise and promote to your key audience.
More information? Contact Karen@NewDestinyMarketing.com.