Marketing Minute: Define Your Target Market
The pandemic has not only changed many of our workflows it has also changed the way we market. Companies can market to 1000s if not millions of people per day with the right marketing spend, but this can be a huge mistake. Companies should invest the time to building their perfect client avatar and build a marketing campaign to find the prospects that fit that avatar. Usually, the best way to accomplish this is to look at your current clients and determine who are your most profitable clients and the ones you enjoy working with. This may help you discover different aspects of your customer base you didn’t know existed. You may find that some of your best clients are a member of the same industry, share a particular employee size, or even a particular sex or age. You should try to make the avatar as specific as possible. You may find through your research that your company does well with female lead real estate businesses, nonprofit’s with 10-20 employees, or retail stores that sell a particular type of product. The important thing is to identify a target market and use your marketing dollars to chase those prospects. Instead of marketing to a 1000 people spending $.50/each on the campaign, market to 100 people spending $5/each. Spend more time and money on more quality prospects is better than using the shotgun approach on spending money on clients you may not even want as clients.