The first paragraph of this article provides a succinct summary of its content. It emphasizes the importance of identifying your target market for successful marketing efforts. It uses the analogy of selling summer clothing in winter or winter coats in the Bahamas to illustrate the importance of understanding your target market's needs and purchasing power. The article also discusses the challenges and strategies of identifying your target audience on the internet, where detailed demographic information may not be readily available.
Understanding your target market is a fundamental lesson in Marketing 101, regardless of the institution you studied at. Many of us learn this through the "School of Hard Knocks". If you fail to grasp this concept, your marketing efforts are likely to be unsuccessful.
Consider this: would you attempt to sell summer clothing in the heart of winter? Most people wouldn't. Why? Because there's little to no demand for summer clothes during winter. Similarly, opening a store that exclusively sells winter clothing in the Bahamas wouldn't be a wise business decision. While there might be the occasional "snow bird" or a Bahamian traveling north who might purchase a winter coat, the demand would be minimal.
The reason for these examples is simple - they don't align with the target market. Your target market should comprise individuals who not only require your product or service but also possess the financial means to purchase it.
Does the same principle apply to the internet? Absolutely. Despite the internet's global reach, it's arguably more crucial to identify your target market online than anywhere else.
Most platforms where you might advertise lack detailed demographic data on their visitors or readers. While some companies are striving to gather this information, it's a challenging task as many individuals are reluctant to disclose personal information online.
In such cases, common sense is your best ally. Even without detailed demographics, there are strategies you can employ to refine your target audience. For instance, if you're selling a health product aimed at older individuals, you can automatically exclude websites or platforms that cater to a younger demographic, such as sites offering free music downloads.
Websites or newsletters that primarily focus on humor are generally not the best platforms for advertising. The pressure of producing several jokes daily increases the likelihood of offending someone. However, humor can be effective when used tastefully and targeted at a specific group.
By using common sense, you can identify suitable websites for placing ads or newsletters that cater to your potential customer base.
The next step is monitoring your results, a step many budding entrepreneurs overlook. There are several ways to track the source of your inquiries. One of the simplest methods is to use a unique email address for each ad. If you own a domain, you likely have unlimited aliases that all direct to the same email address. Alternatively, you can use multiple email addresses or even free email addresses.
The internet can also assist in tracking your results. Designing a unique form that sends you an email each time someone responds to an ad is not a daunting task. You can incorporate a keyword into the form, invisible to the person filling it out, that indicates where they saw the ad.
Newsletters are a good choice. If a newsletter has been around for a while and has a substantial number of subscribers, they must be doing something right. If your ad isn't generating leads, the problem is likely that you're targeting the wrong market or your ad is ineffective.
One common mistake is equating the number of subscribers with potential customers. A newsletter with 500,000 subscribers might yield minimal results, while another with only a thousand subscribers might generate a lot. The key is to determine whether the newsletter reaches your target market. If it does, and you offer a quality, affordable product or service, you're likely to succeed.
A Live Human Being
A Live Human Being by Bob ... try to call a company for ... or ... and have to fight your way through a ... unending maze of ... from an ... robot. "For t
The Winning Combination
The Winning ... by Bob Osgoodby We could all take a lesson from ... As they are growing up, and learning right from wrong, they are ... testing to see what they can do, and what i
Visions Of Sugarplums
Visions Of ... by Bob ... a day goes by that I don't hear about someone ... about their decision to leave ... America and work at home. Maybe they were laid off, opted for e
