Beginners Guide:Target Market Assessment
Why do a Target Marketing Assessment
If you ever spent money on social media advertising, whether: Google AdWords, Google AdSense, bing, Twitter. You would know it is expensive. Many business don’t properly research and tend to spend their money on users visiting their website or viewing their ads, and not purchasing a product. The reason for this is most digital advertising platforms charge businesses, either “Cost Per Click(CPC)” or for the size of the “Reach” to an audience. With marketing these days, if you don’t know who your audience is or you are not specific enough, when targeting users/target markets, you will waste your money on users, that have no interest in your product.. The businesses that are successful, with online advertising or even physical advertising, know exactly who their target markets are. They know what drives them. They set their ads to appear in locations with large populations of that segment of target market and use a program like google AdSesne. They set filters to only show ads to a specific demographic and psycho-graphic population. many times they partner with complimentary organizations, to be able to gain viewers attention. Due to so much advertising from companies. research is key to fully detailing Target Markets.
The Mechanisms to Retrieve Information From Customers & Users
To start building a target Market, you need to start creating ways to research information. One good way to start is to have a website, and of course social media to gain user analytics, insights as well as sign-up forms, in order to collect data.
You can always monitor users on:
- What type of device they use,
- What city they live in
- How long they spent on your site
- What pages they clicked on
- What pages they left the website on
- What website referred them to your website
- What product, pages or post they were looking at.
- Psycho-graphic information about your customer. & users.
A few tips on gathering information is
- Asking for peoples emails on Order forms
- Hold events to win prizes on your website
- Make users use an email or social media account to Sign-up. at events,
- Give them a coupon that only allows users to get the benefits of the coupon if they go on your site and put in their email. This allows you to start building a database of user and customers alike.
find out at much as you can about your markets through primary research some methods are
- feedback surveys,
- posting Q & A’s or multiple choice questions online
- Focus groups
you can use StatsCan, case studies and other government websites with statistical population data. These websites can tell you a lot about different locations in cities, and the residents. Find out cultural information, religious information, family, lifestyle. For physical marketing,
Once you start understanding the different markets, highlight specific target markets. develop your marketing strategy around these markets, never stop assessing and understanding your target marker. Never stop trying to find new markets. The more you understand your Target Markets, the more successful your company will be