subject: Advertising: Understanding The Top Fundamentals For Success [print this page] Advertising: Understanding The Top Fundamentals For Success
rule number one:
Identify your target audience. Before you spend one dollar on marketing and advertising, you need to understand your target audience. you want to make sure that you reach the most people in your specific demographic for the least amount of money. by researching the people that are most likely to buy your product or service, the further your marketing budget will go. One of the products that I carry for example are Black Flys Sunglasses. My target markets are most likely coastal cities, major metropolitan areas and las vegas for this product line. My target age group is 15 - 40 men and women. My target income bracket is $24,000.00 - $60,000.00.
Once you have identified your target audience you need to decide on delivery of your marketing. I like to save every marketing scenario that I move forward with for later market analysis and comparision. How much did I spend on this particular campaign? What was the season that I was in? Were there coupons or codes in this promotion? How many sales were generated? What was my gross profit before and after costs? What was my real rate of return? Once you start collecting this data you will learn whether or not to go back to a specific campaign target, if it is cost justifiable to redo the same campaign or slightly modify the campaign for more desirable results. This data can be your best friend and once your desired rate of return is reached it is then time to refine your approach for maximum gain.
