How to identify your target market workshop
After a huge success with our first workshop, small business owners showed significant interest in learning more from us about the crazy world of marketing. Our passion is to serve small businesses with knowledge and tools to help them grow and thrive. We do this through all sorts of marketing approaches – including marketing consultations, video creation, micro influencer campaigns, social media management and campaigns.
Workshops are becoming a welcome addition to our services. This is why we worked – once again – with the team of Edge by Ella to put together another incredible workshop. While on our first workshop, we focused on effective marketing strategies, this time around we looked into using these strategies towards the right target market.
But doing so, requires that you know exactly who your target market is. That starts with understanding what a target market is. As defined by American Marketing Author, Consultant and Professor, Philip Kotler – a target market is a specific group of people with shared characteristics who are most likely to be interested in your products or services.
Knowing who your target market is important because it is your target market that grows your business by buying your services and or products. Knowing your target market will help you develop effective marketing strategies that are relevant to your specific target market. It will also help you save time and costs when you’re implementing your strategies.
Without wasting much of your time, below we’ve listed ways in which you could identify your target market.
Look at your current database
Have a look at who is currently buying from you, and what products are selling the most etc.
Check out your competition
Have a look at your competition to see what they are offering and see where you can be different. Assess their weaknesses and create a plan to target their weaknesses.
Analyse your product/service
Conduct a survey or questionnaire to see what customers are saying. Feedback from customers are golden nuggets that can be used to rectify a product or service.
Choose specific demographics
Use demographics to define your target market. Your target market can be broken down into age, gender, income, education level, location, profession and marital status.
Determine the Psychographics
Psychographics can be determined as the interests and hobbies of your customer. What do they love doing in their spare time? Do they love sports, living an active lifestyle, art, reading, sightseeing, touring, food etc.
If you have any queries marketing related or want to find out when is our next workshop do not hesitate to contact us here.