Target Market Research

Target Market Research

Market research is your first task. This is true for any type of marketing strategy. You need to find out and get to know a little bit about your target market. You need to find out a few things before you get started:
1. Who is your target market?
2. What does your target market want?
3. How can you deliver to them what they are looking for?

In order for your marketing to be effective, it must offer participants something of value. You can’t just send out a marketing message and expect people to respond to it.

People are becoming immune to sales messages. They hear them all day long, every day. They see them in magazines, newspapers, online, on television, in the mail, billboards and even on busses. Marketing is everywhere and people are growing tired of it.

In order to get through peoples defenses, you must do things differently. You must reach into their psyche and deliver what they want.

Remembering one thing…”What’s in it for me?”

Most people are only interested in the things that directly affect them, whether it is finances, personal hygene, or health. The truth is, people are very self-absorbed. It is only natural since humans are programmed to be that way as a part of their survival instinct.

This actually makes marketing a lot easier, because you can use this simple trait to cut straight to the chase and deliver a marketing message that will get results!

Using “Whats In It For Me”

To fully take advantage of this WIIFM principle, you must figure out what your target marketing is thinking and feeling. You have to understand their needs and deliver something to fill this need.

Forget about the product you are offering. Rather than direct marketing, you should be using the indirect marketing technique. You may be asking, “What is that?”

The direct marketing scheme to sell shoes, for example, might say “Hey! Did you hear that David’s Shoe Emporium is having a sale? All sneakers are 50% off for today only.”

A message like that would be hard to ignore. Yes, some people would respond to this message. But chances are you wouldn’t be able to match such a drastic price reduction. Getting a lot of people to pay attention to your direct marketing message may be difficult.

Using indirect marketing, you would need to come up with something original, useful and exciting to get people to pay attention to your message. For example, you might offer a special service for “free” to get people to visit your website, or come into your store.

“David’s Shoe Emporium now has a new free service! Just visit our website at David’ to try our new shoe locator service and find exactly the shoes you want!”

By offering a free service, you will get people’s attention and get more of them to visit your website, than you would through the direct marketing tactic. Also these people will often feel a need for reciprocity. When you give someone something for free, they typically feel a need to return the favor. This is why free samples work so well. It improves conversions drastically. This is building a relationship between you and the customer.

Examine what your target market is looking for and offer it to them. This will get you a lot more attention than simply sending people off to a sales page.

Providing Value

According to a study in 2007 by the Mobile Marketing Association, only one in four people are receptive to receiving direct marketing messages. That should not be a big surprise, because no one likes the idea of being ” sold ” on something.

However, people are receptive to things that enhance their lives.This does not seem like marketing, even though this could be the ultimate goal. There are many ways to provide value as a marketer. Let me discuss four easy ways that you can use to deliver value to prospects, in order to get them to be receptive to your messages.

1. Knowledge – Knowledge is power, and by providing really valuable information you will “grab” people’s attention. This could be as simple as providing a form of  local information, news updates, tips, tutorials, and other important information that is not readily available.

2. Convenience – By providing a way to make someone’s life more convenient, you magically grab their full attention. In my previous example of David’s Shoe Emporium, by providing a free shoe locating service for people at no charge, you get immediate results.

3. Money – sales, discounts, contests, loyalty programs, coupons, incentives, gifts, and other financial motivators are all a great way of grabbing attention. In a tough economy like today, saving money is even more important than ever. So do use discounts and incentives to lure people into your website, or store. Contests and giveaways are also very attractive, and have the potential of going viral.

4. Entertainment – Everyone likes entertainment. Just look around you. Video games, movies and television are very popular. It is a testament to the fact that people love entertainment. You can use games, trivia, funny or interesting videos, or other forms of entertainment to grab people’s attention and captivate your audience. Using contests and giveaways, these types have a tendency of going viral also.

So in essence, by providing true value in some way, you can reach people in a way you wouldn’t be able to, compared to if your message was just purely marketing in general. With this value, you also have their gratitude and respect, which will translate to bigger profits in the long run.

I hope you find this information useful in creating a marketing campaign that will be successful to your website, or store. Simple yet effective, is also to vary your message just slightly, from time to time, to test which campaign is more productive. Adding a simple “For this week only”, gives urgency to your message which typically make people react sooner than later.

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