OFTEN the best fisherman is not the one with the most rods or the biggest boat – it’s the one who knows what fish to target, and when and where to catch them.
Digital marketing is a lot like fishing.
You must be patient, keep your hook sharp, change your bait to catch different fish, and, most importantly, drop a line where the fish are swimming.
In marketing terms, that means employing a proper audience targeting strategy.
Target Market: “A specific group of consumers at which a company aims its products and services.”
Once upon a time, business owners thought it was enough to market their products or services to “18 to 49 year olds living in Australia.”
Those days are long gone.
Now, you can separate your potential customers based on gender, postcode, lifestyle, technological sophistication, right down to what they follow on social media.
There’s no end to the number of different ways you can define the modern Australian.
For example, age no longer means what it used to.
Thirty-year-olds may still be living with their parents. You can have two men who are 55 years old, and one is retired and towing a caravan around Australia, and the other is just remarried with a toddler in his house.
- Are your target customers male or female?
- How much money do they make?
- How old are they?
- What are their online habits?
- Where do they live? Is geography a limiting factor for any reason?
- What do they do for a living?
- What other aspects of their lives matter? If you’re launching a roof-tiling service, your target customers probably own their homes.
How to identify your target customer
1. What problems do you solve?
The starting point in defining the target market for your proposition is to understand the problems that you solve. Then you can work out who is most likely to suffer from these problems.
2. Paint a picture of the customer
Start to list all the different types of customers that suffer from the problems you solve.
Ask yourself relevant questions about these people. Are they married? Are they home owners? Are they sport lovers? Are they male or female?
3. Who has the most to lose?
If you can show the cost of not acting to fix the problem is greater than the cost of dealing with it, then your pitch becomes convincing.
Remember to take into account aspects like emotional upheaval, stress and the risk to reputation when implementing your solution, as well as a bottom line cost.
4. What is your point of difference?
Do you have particular areas of expertise? Do you have superior knowledge of a specific region? Are you willing to take on customers that other won’t?
All these factors will help you establish a niche market.
Find your target fish – Don’t waste time and money marketing to the wrong audience.
Choose the right bait – Find out what content your target market can’t resist.
Keep your bait fresh -Today’s consumers want new content. So don’t let your message go stale by showing it to do the same audience over and over again.
Know the best times – Study analytics to learn from what time of the month, which days of the week and what times of the day you have the most success.
Be patient – Understand what the goals are that you’re setting out to achieve, and prioritise them accordingly. First comes awareness, then engagement, and finally conversion.
Today’s consumers are more marketing-savvy than ever before and don’t like to be “lumped” with others – so understand your target market. While pinpointing your market so narrowly takes a little extra effort, those who aim at a small target are far more likely to make a direct hit.
To learn how we can help you go after the big fish and land more of them, talk to an ROI.com.au expert today.