Posts Tagged ‘small business success’

The Secret to Small Business Success: Know your Target Market Inside & Out

Thursday, February 14th, 2013

Perhaps the only thing more important than effect branding is Identifying a Target Audience. This is the only way to effectively grow your business. After all, no one, especially small businesses, can afford to target everyone. It is more cost-effective and more beneficial to direct your marketing campaign at a specific target market.

Tips for Identifying a Target Market

  1. Analyze your Current Customer Base: If you are not a new business, chances are that you have a current customer base. Are there any common characteristics, interests, traits, demographic, etc.?
  2. Look at your Competition: What are similar businesses in your industry doing? Who are they targeting?
  3. Who could benefit from your Product/Service: What are the benefits of your product/service? Now, who would benefit from those benefits?
  4. Target a Key Demographic: Based on your findings from the above steps, target in on a specific demographic. Are there enough people in the target audience to make this decision financially beneficial?
  5. The Psychographics of Your Target: What features of your product/service are most appealing to your key demographic? What media outlet would be best suited to reach out to this demographic?
  6. Frequent Evaluation: This is not the end of the marketing road. Be sure to reexamine your decision every few months. How effective has your marketing been?

Trust The Marketing Showcase, a Washington DC Marketing Firm

At The Marketing Showcase, our marketing and branding services concentrate on the strategic elements first. We never operate without a plan and our plans are always designed to target specific goals aligned to your long-term marketing goals.

If you have any questions, please contact The Marketing Showcase by calling 202.329.3199 or visit TheMarketingShowcase.com today!

The branding professionals…we run with your vision!

You can also follow The Marketing Showcase on Facebook, Twitter, LinkedIn, and Google+.

Source:

  1. Make Better Use of Facts About Your Customers Business Week