Let’s say you are on the weight loss market. It is a big market worth $ 60 billion a year and is very profitable for many companies. And that’s the problem. Many companies are involved in this industry.
You can have great products and services, but how do you make your business noticed in a crowded market?
Segment your market
Rather than focusing on a large market, such as weight loss, use a market segmentation system. This where you target your marketing on a smaller and specific segment of this large group. For example, your marketing and tactics initiatives are for single women over 40, or another more specific group.
Your avatar client
To establish your target market, you need a very clear idea of your ideal customer. This potential customer is known as Avatar Customer. How old are they, where do they live, what are their tastes and disgusts? What are all the characteristics that make anyone your dream client.
When you focus on a smaller target market rather than on a general market, it is much easier to connect to a person. Always remember that you are marketing a person at a time, not a group. Target your marketing to a smaller subset of a larger group and marketing efforts have a much better chance of giving you the desired results.
If you ever change your target market?
If your marketing efforts do not provide results, you may need to change the market for your business.
Sometimes, despite the fact that you did a lot of research, you end up marketing at the wrong group of people. Your target market may not want to spend money on your product and service and can simply search for free advice. It is at that time that you have to refine your market and look for a segment of people who have expressed serious interest in spending money.
Analyze your marketing tactics
Another situation could be that your target market is quite good and you just need to change your strategy and marketing techniques. For example, your audience may not respond to messages from your social media, but can be more responsive for email?
At other times, if you do not give up the success you are looking for after a lot of time and effort, it may be your target market you need to change and not your marketing itself.