We’d all love our product or service to appeal to everyone but you’re living in a fool’s paradise if you think that’s possible, or that it’s good marketing. Trust this old copywriter when I say that the right words into the right ears will get your much further than taking a megaphone to a crowd of people.
What are the right words? Well, that’s for another time. Today I’m going to tell you how to find the right ears.
Here are 23 questions you should be answering to find your target market – the group of people who are most likely to buy from you.
That’s a really important distinction by the way. You might attract (and welcome) many types of customers but it’s worth aiming your marketing at the people who will spend their cash with you. That’s when you can start talking about your marketing ROI.
The first step to work out who your target market is.
Your existing customer base is a pretty good place to start to spend some time looking at:
1. Who already spends their cash with you? And what are they like?
Outside of your existing customers, think about:
2. Who gains the most from your product or service? And what do they gain? [this is based on the benefits your product or services offers]
Then it’s time to dig a little deeper to define your target market
3. Where does your target market hang out? [Socially and for networking]
4. What does your target market do in their spare time?
5. Who does your target market look up to? Who do they aspire to be like?
6. What really annoys your target market?
7. What worries your target market, especially about solving this issue?
8. How does your target market approach spending money?
9. What are key traits/ qualities of my most profitable customers and the customers I most enjoy working with?
10. Is age an important factor in buying your product or service? If so, what age?
11. What kind of people does your target market hang out with?
12. Which trade shows and exhibitions does your target market attend? Or present at?
13. Which groups, associations, and clubs do your target market belong to?
14. Does your target market usually know what they are looking for (specifically)?
15. Which training sessions, seminars or events does your target market attend? Why do they attend?
16. Does your target market participate in any forums? Which ones?
17. What does your target market read? [magazines, trade publications, blogs, newspapers]
18. Who does your target marketing follow on social media?
19. What does your target market listen to and watch? [radio, television, youtube]
20. Is geography important to your target market? If so, where do they live?
21. How does your target market evaluate price vs value?
22. What is the most important aspect of their life?
23. What is your target market afraid of?
You might notice that most of these questions are not about the demographics of income, race, sex, location etc. That’s because the psychographics of what motivates your target market are much more useful to you. The WHY is essential for every question.
This kind of market research will not only help you define your target market, they will help you identify target market niches that you might not have considered or who aren’t being looked after yet!
Remember: You may have multiple target markets. You don’t have to put all your marketing eggs in one basket but keep in mind that you should be targeting the groups that will give you a return on your marketing investment.
How do you work out your marketing targets? Can you add to the list?