subject: 3 Big Factors Why You Have To Know Your Target Marketplace [print this page] Rule Number One when writing advertising materials is "Know Your Target Market." There's lots of foundational work to do before you ever put a word on paper (more regarding this in future issues), but this is the place to begin.
What takes place whenever you define your targeted market and turn out to be intimately acquainted with their needs and difficulties?
1. Potential customers will read your materials and know precisely why they need you
There is a large difference between marketing to just anyone who crosses your path and a target market of, say, seniors more than 65 who own their personal homes. A senior more than 65, who owns her personal home, has really particular needs. Whenever you know her requirements, you are able to produce a sharply focused advertising message that makes her feel you are talking directly to her. And guess what? When she feels that you understand her, she will be much more willing to do company with you.
2. It gives direction to your item or service
"The Apprentice" is a hit TV series exactly where two opposing teams are given a business project to accomplish. In the first episode of this season, their assignment was to develop a new toy for Mattel, the largest toy manufacturer in the world. A Mattel executive said: "In this company, you always want the kids to steer you." Within the end, the losing team was told that their idea showed a lack of understanding of what children want and like. Bingo! They had not paid attention to their target market - kids. And they lost.
When you define your targeted market and know their preferences and dislikes, you can direct all your ideas and resources towards this group. Rather than trying to be all things to all individuals, your company will gain focus.
3. It is simpler to plan an efficient advertising strategy
Knowing your targeted market helps you choose how and where to promote your business. If you are targeting doctors, then you are able to decide how and exactly where to find doctors to talk to. On the other hand, if you are targeting corporate executives, it's clear that you won't achieve your objectives by hanging out with small business owners.
The result: less time wasted running down advertising cul-de-sacs, much more time dedicated to finding and talking for your perfect clients.
