Who are you dealing with now?
Who will you be dealing with online?
Who will you deal with in the future?
Prepare a customer profile
Get your message to the people who need and want what you have to offer! This stage takes you through a step-by-step process that helps you identify specific target markets within your industry and provides you with the know-how to create customer profiles to better channel your marketing efforts.
We review with you the types of markets, why a customer would want to buy your product/service, segment your market and research your market.
The process will take you through a step-by-step process that will help you identify specific target markets within your industry and provide you with the know-how to create a customer profile.
In order to market your product or service, it is imperative that you tailor your marketing and sales efforts to specifically reach the segment of population that will most likely buy your product or service. It is critical that we first determine or clearly identify your primary market. Your time and resources then can be spent more efficiently.
If you don’t know who your customers are, how will you be able to assess whether you are meeting their needs? Since success depends on your being able to meet customers’ needs and desires, you must know who your customers are, what they want, where they live and what they can afford.
Targeting your market is simply defining who your primary customer will be. The market should be measurable, sufficiently large and reachable.
Once your target market is defined through your knowledge of product appeals and market analysis, and can be measured, you should determine whether that target market is large enough to sustain your business on an ongoing basis. In addition, your target market needs to be reachable. There must be ways of talking to your target audience.
Answer the following questions regarding your market.
Reason/occasion for purchase?
Number of times they’ll purchase?
Timetable of purchase, every week, month, quarter, etc.?
Amount of product/service purchased?
How long to make a decision to purchase?
Where customer purchases and/or uses product/service?
Take a moment to decide which segmentation criteria will be most helpful to you in segmenting your target market:
Geographic ____ yes ____ no
Demographic ____ yes ____ no
Psychographic ____ yes ____ no
Behavioristic ____ yes ____ no
Next, identify what is important to your customers and rank these on a scale of high, medium, low or not at all.
Are they price sensitive?
Are they looking for the highest quality?
Is great customer service important?
Or, is location a deciding factor?
After identifying and defining the possible segments within your target market, you must face the critical question of whether it would be profitable and feasible for you to pursue each identified segment, or choose one or two.