Target Marketing is a powerful marketing strategy that has been used for years with all types of businesses. It starts with understanding your potential customer base and then breaking it down into segments. By focusing on specific groups of people based on their characteristics, you can better engage with them and create more effective marketing campaigns.
Identifying a target market is essential for any business, big or small. When you find your target audience, you can learn how to communicate with them in an effective and meaningful way. This is the key to establishing relationships and building profits. With the right target market strategy, you can open the door to incredible growth for your business.
When creating your marketing strategy, it is important to consider your target audience. To do this effectively, it’s important to think about the demographics of the area you are trying to reach, as well as your past clients and business associates. Understanding the zip codes, neighborhoods, and communities you are targeting can help you introduce yourself to those you may not know yet.
Your past clients are a great core group to nurture as they can be your main referral source. Additionally, building relationships with your business associates and vendors can be highly beneficial for your business. Think about all the services you could offer to your clients by introducing them to reliable and trustworthy companies in the area. By creating a marketing strategy that speaks to each group, you can build relationships that will be highly rewarding and incredibly profitable.
Target Market and Target Audience are two very different concepts when it comes to marketing.
A Target Market is a broad group of people that you can market to, such as everyone in the Hickory Creek Subdivision. A Target Audience is a smaller, more specific group that meets the criteria you set. For example, you might target homeowners in Hickory Creek who are potential sellers. You can even further narrow a target audience by using micromarketing, which allows you to create a segment of a niche group based on specific criteria. Micromarketing makes it possible to target people with children, empty nesters, business owners, renters, first-time home sellers and more.
When you are considering your target audience here are some key points to consider:
- Demographics – going by just a zip code, a specific neighborhood or community it one way to introduce yourself to those you have never met.
- Past Clients – This is your core group. You have created a relationship with them, you nurture this group heavily as they will be your main referral clients. Break it down into buyers and sellers or even investors.
- Business Associates – who in your community would you like to introduce to your clients? This is your vendors list and this is a major group where doing b2b can be an amazing relationship. Think of Mortgage lenders, insurance agents, plumbers, electricians, landscapers, housekeeping services, carpet cleaning, pet sitters, etc.
Creating a marketing strategy that speaks to each group will build relationships where you can see an amazing future that will be so rewarding and extremely profitable.
Let’s talk about the difference between a Target Market and a Target Audience.
Target Market: This is an overall group of people. For example: Hickory Creek Subdivision – this is going to give you an opportunity to speak to everyone on a broader scale.
Target Audience: This is a group of people who meet the qualifications of your criteria. Meaning, we are looking at possible home owners who might be potential sellers in the Hickory Creek Subdivision and based on the criteria you create this will bring your audience level down in numbers, but you are able to focus on this specific group, talk their language and give them a call of action.
I’ll also mention that you can go even deeper in targeting your audience, Such as choosing a specific niche.
Micromarketing: Micromarketing allows you to create a narrower segment of a niche group. This group is defined by a specific criteria.
For example: Niche in sellers with children, empty nesters, business they are in (think relocation), renters, first-time home sellers, etc.
Once you have your plan laid out by deciding how you want to begin then you create:
- Create your brand. Make sure you have this already in place.
- Create your target audience
- Create your marketing content
- How will you market to them
- Creating an account with online printer or local printer
- Design your marketing pieces
- Create your content – you will want to create an 8-week campaign/funnel
- Schedule the marketing pieces out
These are all great steps to take to ensure success. As you work on each step, remember to remain focused and consistent. Be sure to research your target audience, create engaging and informative content, and take the time to design marketing pieces that will stand out and attract your audience. Additionally, remember to track your progress and adjust your strategy if necessary.
If you need any help with the planning process, please feel free to reach out. I’m more than happy to provide any assistance you may need. Good luck!
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