Having a product or service on offer is only part of what makes a business successful, you also need to reach the right people. A direct marketing campaign can help increase awareness of your brand, keep customers up to date with what you’re doing and improve revenue.
Identifying your target market can be a difficult process but you need to reach out to the correct demographic to ensure you have the best return on your investment possible. Depending on your business, your target market could include several different groups and encompass various campaigns to address this. Understanding who your target market includes is vital for success as the answer should affect the campaign itself, from the tone of voice it uses to how it will be distributed.
Follow these steps to identify your target audience and set the foundation for a successful direct marketing campaign.
1. Consider the solutions you supply – Take a look back over your business plan and think carefully about the problem that you are solving with your product or service. Once you’ve identified this you can think about the types of businesses or individuals that would benefit from your offering. You may find that you have more than one target group.
2. Create customer profiles – Draw up several customer profiles of what you think your customers will be like. For businesses include aspects like the industry they operate in and how large they are. If your business is geared towards consumers, you should think about how old they are, their interests and disposable income.
3. Assess the market – Having a look at what your competitors are doing and wider industry trends means you can find a potential gap in the market. The nature of the digital world means that it’s easy to compare products and services and you need to ensure you stand out by positioning yourself to the right people or organisations in the right way.
4. Find out what your target market does – Different groups of people and companies will consume information in different ways. In order to reach your target market you need to understand how best to reach them, for example are they more likely to read an email or check a social media post? Fully understanding the best way to communicate with your market will deliver the best outcomes.
5. Don’t rest once you’ve identified your target market – Once you’ve identified your target market it can be easy to sit back and relax but you need to continue doing research and monitoring your success. Through constantly evolving your marketing strategy and target audience you may find further potential customers and recognise trends and patterns that highlight where you could move forward.