When you are ready to start advertising your business, the first step is to determine who your target market is. You might have an inkling - and that's awesome! - but instead of going with your gut, go get yourself some proof. Once you have a few questions answered about your buyers, you can start budgeting for ads on sure footing.
In this first How to Advertise post in our new series, we'll help you find out who you should be advertising to. Keep in mind, building this foundation is key to marketing your products.
Research Your Buyers
To start your market research, survey your current buyers. This could be a quick questionnaire after Checkout, or a follow-up email you send
You could just survey all of your buyers if you do not have too many, or you can take your biggest sales and contact those buyers. It couldn't hurt to provide those that fill out your survey a discount. Give them 20% off their next order, free shipping or entry into a contest to sweeten the deal.
Your survey should collect the information that matters for your business. Here are a few common bits of information that you'll want to collect to find your buyer's demographic:
- Age
- Gender
- Marital Status
- Income
- Education
- Location
- Occupation
Also ask about the psychographics of your buyers:
- Hobbies
- Values
- Lifestyle
Make sure to also check on your customers' satisfaction at this point, your research should not only be able the people who purchased, but also those that like the product, will buy again and/or suggest friends make purchases.
Like anything, test your survey before sending it out into the world, ask friends and family to read over it to see if it's clear and not too tedious.
Building Your Target Profile
Once you have all your surveys in, you'll want to boil the information down. Draw connections between the questionnaires to build a profile of your most common customer. The most common one or two profiles will be your initial core market, while the following few should work as your initial secondary market.
Example: If 55% of those you surveyed said they were women age 20 to 25 who live in Los Angeles, you can establish that they are your initial target market. If 20% of those you surveyed said they were men 20 to 25 in Los Angeles, you can assume that is your initial secondary market. Start experimenting with advertising that is catered to each of those profiles, and to both at once if applicable.
Another thing to consider when building your target profile is your who your competitors sell to. It may be that your competition sells to one part of your core market. If this is the case, then you may want to try your hands at a niche in the market they are not exploiting. For more information on Niche Marketing, check out this great blog by Inc.com.
All of this may lead you to find that who you thought of as your target market is not really there.
Listen to your findings more than your gut. You'll be more successful if you direct your sales and marketing to fit who is buying.
Good Luck and Good Sales.
Not being a troll on this post but wanted to express myself as a long-time follower. I REALLY miss your artistic and pop culture posts. Are you going to start writing those again? Or are you making this blog now solely about internet retailers like yourselves? Either way is fine, but I would like to know, as I followed you for the art/pop culture pieces. Thanks so much!
What is your opinion about guest blogging ?
Samson Sundar