The old saying “jack of all trades, master of none” speaks of talented people who are too busy focusing on trying to do everything, and then failing to finish anything with real flair and expertise. Sadly, many companies display this mentality when it comes to marketing. They often become lost fishing in the general pool of potential customers instead of narrowing the focus of advertising campaigns to target real customers. Worrying about competition and missing opportunities to snare a handful of paying customers can divide your attention and cause you to spend mountains of money on campaigns that just don’t cut the mustard. Believe it or not, focusing your efforts on a targeted, smaller demographic can reap a larger return. Here are five ways to master your marketing:
Know Your Product or Service
Begin by knowing the product or service you market intimately. Besides the specifics, you must also be familiar with its benefits. By understanding how your offer will meet the needs of customers, you are more likely to select a demographic willing to buy.
Identify Your Niche Market
Once you understand the benefits your product, service or opportunity will give customers, you can begin to form the profile of the intended customer. Who is it that would greatly benefit from your offer? Previous sales records will also provide information to help narrow down the customer demographic.
Testing your Targeted Customer
When you have identified who you believe would seriously consider buying your offering, you must take the time to explore it. No one ever buys a product or service simply because it sounds like a good offer. They buy it because the benefits it brings will either solve an issue or make life easier for them. Knowing who you want to target your marketing campaign towards is only part of the solution. You must also consider their ability to actually afford what you are selling.
Sources of Information
There are many online sources to help you find the ways to hone your marketing focus. Google Adwords Keywords Tool will show the most popular keyword searches related to your product or service. Online providers of the Standard Rate and Data Service Marketing List Source will also give you lists of hundreds of specifically grouped customers interested in what you are offering. This resource is rather expensive but is readily available in most public libraries.
Targeting Smaller Demographics
Designing a marketing campaign for a specialized section of the public allows you to use the proper language and forms of advertising to reach the customer. There is a higher chance that the customer will respond to the marketing when it addresses their personal situation.
Tailoring an advertising venture to reach out to a small group of carefully selected customers allows a company to use the most suitable types of communication to attract the potential customer. This gives a higher return for your investment because you don’t leave advertising to chance. The company also comes across as being more professional and more knowledgeable about the product or service, and the needs of the customer. Becoming the master of one area of the market can propel a business further ahead than wasting money trying to compete with business rivals.