Your business signage and other marketing efforts are an extension of your advertising and branding plans. These plans need to be clearly defined and targeted in order to get the most out of your marketing. A major part of having good marketing plans is knowing your target demographic. For example, different cultures and age ranges are captivated by different things. By sending a clear message that captures the interests of your ideal customers, you can expect your business to bring new leads, which hopefully yields more customers and sales. Understanding the importance of knowing your target market will make designing your marketing plans much easier. We'll also go over some simple tips to help you determine who your ideal customers are.
Knowing your customers affects everything from how you design marketing materials and signage to what advertising media you use. Grabbing the attention of teen boys and convincing them to buy something is an entirely different process than with elderly women. Age and gender represent two of the most crucial pieces of information about your demographic. There will probably be some correlation between age and purchasing power as well. The economic status of your ideal client is another important thing to consider. A luxury watch will sell better to late middle age people than college students in most cases. Ethnicity can also affect how you advertise. Some products resonate more with certain races. Be cautious to not fall back on stereotypes when you are targeting advertisements at a specific culture or race. Other important considerations are the hobbies and habits of your desired clientele. If they take public transportation to work, then spend the evening browsing the internet and find two ideas about where to target signage and other marketing efforts. Who you want to sell products or services to affects every facet of how you sell those products. Inefficient marketing costs you money and does not bring back a proper return.
There are some resources available to help you research areas and their demographics to make sure that your market has a strong presence. You should definitely keep track of how people interact with your brand digitally. If you have a website and Facebook Page, consistently check Google Analytics and Facebook Insights to get a better idea of who is interested in you and how they are finding you. The U.S. Government also has a couple powerful resources for you to use: The Census Bureau and The Bureau of Labor Statistics. Census Bureau data is available online. If you have a physical business, this let's you know how many people in your target market are in close geographic proximity. If you sell online, this information can let you know where to target physical advertising and signage. The Bureau of Labor Statistics is an indispensable resource. It has an enormous wealth of information about how people spend their money as well as economic trends in certain regions.
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Knowing your target market may seem like a vast and never-ending process, and it is. You should be monitoring and refining your marketing strategy on a periodic basis. People change, demographics shift; staying on top of these things is a great way to stay ahead of the competition. Identifying your target market and finding out what they need and want is one of the most essential aspects of selling anything. It may be tempting to dive into design, but doing research first will save you time and money in the long run. Below are links to the resources mentioned above.
